Standard Life has promoted Jeetesh Patel to be its new head of reinsurance and structuring within its retirement solutions business.
This appointed follows follows the recent promotion of Kunal Sood to managing director of DB solutions & reinsurance.
In his new role Patel will have responsibility for growing the group’s reinsurance partnerships, expanding its reinsurance capabilities and delivering the reinsurance strategy to support Standard Life’s bulk purchase annuity (BPA) business.
Standard Life’s managing director, retirement solutions Tom Ground says: “Our Retirement Solutions business has undergone huge development over the last few years and this appointment reflects the rapid growth of this key area for Standard Life.
“We have continued to invest heavily in our defined benefit solutions business, which resulted in completing £4.8bn of BPA premiums in 2022 and secured the benefits for around 40,000 defined benefit scheme members.”
He added that these promotions form part of the business’s long-term strategy to position retirement solutions as a market leader in the long-term savings space.
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