AM Specialty Insurance Group has announced the appointment of Kevin Stephenson as chief financial officer (CFO) of AM Specialty Insurance Company (UK) and Viren Patel as chief risk officer (CRO).
Stephenson is an FCA/ACA qualified accountant with over twenty years of financial leadership experience at Lloyds and the wider general insurance market, having developed deep expertise in financial operations, governance and regulatory frameworks throughout his career.
In his new role, he will oversee ASIC UK’s financial operations, including financial planning, reporting and regulatory compliance, supporting the company’s financial strength and alignment with group strategy.
Prior to joining ASIC UK, Stephenson held senior roles at property and casualty insurer AXA XL, including finance director of Lloyd’s & UK and chief financial officer of AXA Africa Specialty Risks, most recently finance director of insurance operations at Marco Capital.
At Marco, the executive was responsible for leading financial strategy, planning and regulatory reporting for the group’s insurance entities.
As CRO, Patel will be responsible for leading the company’s enterprise risk management (ERM) framework, overseeing capital and managing risk governance activities to ensure compliance with UK regulatory expectations.
The executive is an experienced professional in the London market, most recently serving as Head of Risk at AEGIS London.
Prior to that, he held similar senior roles at Starr Corporation, where his responsibilities included core ERM, internal model validation and ESG (environmental, social and governance).
Earlier in his career, Patel spent several years at Lloyd’s and also held various senior risk and actuarial roles in the London market, specializing in capital modeling and validation.
Darren Powell, CEO of ASIC UK, commented: “The appointments of Kevin and Viren mark an important step in the continued growth of ASIC UK. Kevin’s financial leadership and market experience, combined with Viren’s deep expertise in risk management and regulatory governance, will significantly strengthen our UK leadership team and help us continue to build a strong and well-governed insurance platform.”
