Standard Life continues ‘rapid growth’ in retirement solutions business with new hire

Standard Life, part of Phoenix Group, has today announced Jeetesh Patel as its new head of Reinsurance and Structuring.

Related topics:  New Hire
Protection Reporter
31st January 2023
New Hire 5
"Jeetesh [Patel] 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."
- Tom Ground, Standard Life managing director Retirement Solutions

Prior to this appointment, Jeetesh Patel had been senior structurer within the company. In his new role, Patel will have responsibility for growing the Group’s reinsurance partnerships, expanding reinsurance capabilities, and delivering the reinsurance strategy to support Standard Life’s Bulk Purchase Annuity (BPA) business. Reporting to Kunal Sood, who has recently been promoted to managing director of DB Solutions and Reinsurance, Patel will also be responsible for developments in robust risk management practices to support sustainable reinsurance activities.

Commenting on the appointment, Tom Ground, Standard Life managing director Retirement Solutions, has said:

“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.”

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