J.C. Flowers directors join Niyam reinsurance board

Thierry Porté and Jonathan Cox, both managing directors at J.C. Flowers & Co., have joined the board of Niyam Group, an Indian-focused reinsurance platform. Porté is also vice chairman of the private-equity firm.

The appointments deepen the link between Niyam and J.C. Flowers, one of the largest dedicated financial-services investors. Niyam said the two will help build a specialist reinsurer for India and other fast-growing emerging markets.

Porté, who is also a board member at Niyam, said success in India depends on pairing local talent with a global network. "Niyam exemplifies this formula," he said. "We are pleased to operate in GIFT City, an open, effective, and well-managed gateway for foreign capital into India."

Cox, also a Niyam board member, said the firm is the lead investor and backs Niyam Syndicate 2047 at Lloyd's. Niyam is based in Gujarat International Finance Tec-City, a special economic zone. Cox described Niyam as "the first Indian reinsurer offering AA- rated capacity to cedants."

Porté and Cox bring decades of experience building financial-services businesses, the firm said. Their addition is meant to strengthen governance and push the group toward its long-term goals.