Niyam Group has appointed Ritesh Shah as director of engineering and construction, the company announced on Monday.
In the role, Shah will lead the development of Niyam’s engineering and construction portfolio, backed by Niyam Syndicate 2047 and Lloyd’s AA-rated capacity.
He joins after more than 14 years with Swiss Re in Mumbai, where he most recently served as vice president.
Shah has also worked as a risk consultant with CorSo India Private Limited, where he was assigned to provide services to Swiss Re in Mumbai. Earlier in his career, he held roles with Sunsky Mobile Communications and the Cane and Bamboo Technology Centre.
“Ritesh joins us with deep underwriting expertise, sharp technical judgment, and the kind of builder’s mindset this stage of our journey calls for,” Niyam said in its announcement.
Commenting on his appointment, Shah said: “There is something rare about being given the chance to build a business from the ground up, with conviction, with patience, and with the right partners. Engineering & Construction sits at the heart of India’s growth story, and I am honoured to be shaping this portfolio at Niyam.”
The appointment follows several senior additions at Niyam, including J.C. Flowers executives Thierry Porte and Jonathan Cox joining the board, Ash Bathia being named non-executive director, and Ruchi Sheth being appointed director for marine and energy.
The Niyam Group launched back in January as a reinsurance venture in India’s GIFT City led by founder and CEO Bobby Swarup. In March, J.C. Flowers & Co. agreed to acquire a controlling stake, joining as lead investor in Niyam Syndicate 2047 at Lloyd’s.
