Niyam Group has appointed Ruchi Sheth as director for marine and energy, the company announced on Thursday.
Sheth moves to Niyam after over eight years at TATA AIG, where she most recently served as vice president for Marine Insurance. She has more than 23 years’ experience in the general insurance sector, with underwriting expertise in marine and energy. Earlier in her career, she also held roles with ICICI Lombard and Bajaj Allianz.
In her new position, Sheth will lead the group’s marine and energy portfolio for Niyam Syndicate 2047, with a focus on supporting the placement of specialty marine and complex risks within India.
The role will also involve working through Niyam’s Insurance Intermediary Office in GIFT City, which the company said will allow clients to access Lloyd’s security, underwriting expertise and global capacity closer to the Indian market.
“Trade, shipping, and energy are the growth propellers that move nations forward, and today, the tides of transformation have never looked more promising. To be part of Niyam Group amidst this evolving horizon fills me with renewed purpose, energy exuberance, and fervorous for what lies ahead,” Sheth said, commenting on her appointment.
Niyam launched in January as a new reinsurance venture in India led by industry veteran Bobby Swarup. In March, the group received approval from Lloyd’s for Syndicate 2047. It has also secured authorisation to operate as a Tier 2 IIO in GIFT City, becoming the first IIO to offer Lloyd’s of London capacity from the financial center.
