Liberty Mutual Re (LM Re), part of Liberty Mutual Insurance Group, has announced the appointment of Hetul Patel as the new chief actuary for reinsurance. Patel, initially based in Singapore, will move to Cologne, Germany later this year.
Patel (pictured above) will initially work alongside current chief actuary Brian MacMahon, who will retire at the end of the year. Patel reports to Dieter Winkel, President of LM Re, and Chris Short, Chief Actuary for Liberty Specialty Markets.
Patel has over 15 years of industry experience. He joins LM Re from ActuariesOnTap (AoT), where he was Director of Non-Life Consulting. Prior to joining AoT, he was a senior actuary at Asia Capital Re.
In his new role, Patel will lead the actuarial reinsurance team that provides LM Re with pricing, reservations and capital support.
Next read: Liberty Mutual in mega-deal for $ 2.29 billion
“I am delighted to welcome Hetul to LM Re and look forward to working with him and his team to achieve our strategic goals,” said Winkel. “He is a seasoned global leader with a track record of generating profitable growth and leading international teams. He brings extensive data and analytics experience, exactly the skills we need for this role.
“I would like to thank Brian MacMahon for his dedication and service to LM Re,” said Winkel. “Everyone at LM Re wishes him a long, happy and healthy retirement when he leaves at the end of the year.”