2 February 2023
Standard Life, part of Phoenix Group, today announces a senior promotion within its Retirement Solutions business. Jeetesh Patel, previously Senior Structurer, has been appointed Head of Reinsurance & Structuring.
Jeetesh’s appointment follows the recent promotion of Kunal Sood to Managing Director of DB Solutions & Reinsurance. Reporting into Kunal, Jeetesh will have responsibility for growing the Group’s reinsurance partnerships, expanding reinsurance capabilities and delivering the reinsurance strategy to support Standard Life’s thriving Bulk Purchase Annuity (BPA) business. He will also focus on development of robust risk management practises to support sustainable reinsurance activities.
Tom Ground, Managing Director Retirement Solutions, commented:
“Our Retirement Solutions business has undergone huge development over the last few years and Jeetesh’s appointment reflects the rapid growth of this key area for Standard Life. We have continued to invest heavily in our Defined Benefit Solutions business, which resulted in completing £4.8bn of BPA premiums in 2022 and secured the benefits for c. 40,000 defined benefit scheme members. Jeetesh’s well-deserved promotion forms part of the business’ wider, long-term strategy to position Retirement Solutions as a market leader in the long-term savings space, ensuring good consumer outcomes in their journey to and through retirement.”
“Jeetesh has been an instrumental part of our reinsurance efforts and his expertise and knowledge make him well placed to build on the successes seen by his predecessor, Kunal, as we continue to grow our reinsurer partnerships and support Standard Life’s BPA business.”Source: Phoenix
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