Bermudian reinsurance firm Fidelis has appointed a new group chief financial officer.

Hinal Patel will replace Neil McConachie, who resigned earlier this year, at the end of June.

Richard Brindle, group chief executive officer, said: “Hinal brings a deep understanding of Fidelis’s business, reserving and capital management which aligns with the strategic role of the CFO.

“Most importantly he understands underwriting, which is vital as we continue to pursue growth opportunities. The Board and I fully support his promotion into this role.”

Mr McConachie, who remains with Fidelis as a consultant, said: “Hinal has clearly demonstrated his capabilities since joining Fidelis as group chief actuary.

“I look forward to working closely with him over the coming months, and will remain on in a consulting capacity until December 2017, to ensure a smooth transition.”