Patel succeeds Adrian Scott, whose appointment to managing director of international and financial lines was revealed in February as part of the wider suite of internal promotions at executive-level.
Patel is currently head of insight and reserving, part of Pen’s core capabilities as a virtual insurer which underpin each of its specialist trading divisions. He joined the company four years ago having worked for ‘Big Four’ accountancy form Deloitte, Allianz and AIG.
He will also report into Scott in his new role.
Scott said: “During his time with Pen, Hamir has shown himself to be a strong leader, excellent communicator and first-class manager of people. These qualities, alongside his technical insurance expertise and commercial acumen, stand him in great stead for taking the reins in what remains a key growth area for Pen.”
Patel added: “When it comes to innovation in underwriting, it’s hard to think of an area more dynamic than cyber risk, with so much opportunity and challenge.
“I’m really looking forward to building on the fantastic foundations laid by Adrian with our team of cyber specialists, who are firmly focused on finding solutions and ways to transfer risk for our broker partners on behalf of their clients, whilst ensuring a strong underwriting result for our capacity partners.”