Niyam Group has appointed Prathemesh Apte as director, risk and compliance, as the reinsurer works to build its governance framework for Syndicate 2047 at GIFT City.
In a LinkedIn post on July 22, Niyam Group said Apte brings the experience, judgement and professionalism needed to strengthen its institutional capabilities.
Based in Pune, Apte joins Niyam Group from Bajaj General Insurance, where he led compliance and risk management operations for several years. He previously served as assistant manager at Element42 Management Solutions and co-founded Versio, a start-up that automated data backup software for chartered accountants and lawyers in India.
The appointment comes as Niyam Group works to establish the foundations of a regulated reinsurance platform in the country.
“Prathemesh joins us at an important stage in our journey,” the firm said. “Building a regulated reinsurance business requires more than strong underwriting. It demands disciplined risk management, sound governance and a culture where compliance is embedded in every decision.”
Niyam Group launched in January to tap into India’s expanding (re)insurance market. The company received Lloyd’s approval for Syndicate 2047 earlier this year, and commenced underwriting operations in April.
The reinsurer recently appointed Ritesh Shah as director of engineering and construction.
