Niyam Group has appointed Vishakha R.M. as a non-executive director on its board, the company announced on Friday.
Vishakha brings 37 years of insurance industry experience and most recently served as managing director and CEO of IndiaFirst Life Insurance until her retirement in 2024.
She began her career with New India Assurance in 1987 before moving from general insurance into the life sector. Her experience includes leading IndiaFirst Life through shareholder changes, bank mergers, and the COVID-19 period.
In its announcement, Niyam said, “She brings to our Board considerable depth of judgment and governance experience.”
“As Niyam Group continues to build Syndicate 2047 from GIFT City, Vishakha’s counsel will be invaluable in strengthening our institutional foundations and shaping our long-term vision,” the firm added.
Her appointment follows changes to Niyam Group’s board in June, when private equity firm J.C. Flowers & Co. agreed to acquire a controlling stake and become lead investor in Syndicate 2047. J.C. Flowers executives Thierry Porte and Jonathan Cox joined the board as part of the transaction.
The board changes have come alongside a broader build-out of Niyam’s management team after Syndicate 2047 received Lloyd’s approval earlier this year and began underwriting in April.
Niyam Group started its operations in India in January as a reinsurance venture, led by industry veteran Bobby Swarup.
