Brit Insurance, the international general insurance group, announces the appointment of Baldeep Johal to the newly-created position of group chief risk officer. Mr Johal will join the executive management committee and report directly to group CEO Dane Douetil.
Mr Johal joined Brit in 2001 and was subsequently promoted to group chief actuary where he has created an actuarial and modelling team. He has led the group in implementing a new approach to reserving, introducing new pricing models, and building the group's capital models and exposure monitoring capabilities.
Commenting on the new appointment, chief executive officer, Dane Douetil, said: “With the advent of Solvency II we have taken the opportunity to move all our risk management activities within the responsibility of this newly-created role. Baldeep will lead the group in assessing the entire risk landscape whilst ensuring the appropriate business balance between risk and reward.”
Shane Kingston will be promoted to replace Mr Baldeep as the group chief actuary. Mr Kingston joined Brit in 2004 as pricing actuary and his recent responsibilities include actuary for the group’s global markets and reinsurance businesses.
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