Consilium, the London-based speciality re/insurance broking business of the Aventum Group, announced the launch of a new cedent driven facultative (FAC) reinsurance division.

Simon Richardson has been appointed managing partner of the new division and following his notice period will join Consilium from Besso Re. At Besso Re, Richardson was head of North America and helped create its global FAC team. Prior to that, he was instrumental in the formation of JLT Fac, and before that, held senior positions with Willis and Lockton.

The new FAC division will complement Consilium’s existing worldwide broking operations and will draw on its broad network and knowledge base to develop new opportunities across the globe.

“There is a real thirst in the current market for an independent viewpoint on FAC in a highly consolidated environment, and Consilium is uniquely placed to offer that. We see huge potential to use this platform to unlock opportunities and provide solutions for our clients,” Richardson commented. “It is exciting to be joining such a dynamic organisation that’s never satisfied to accept the status quo.”

“We now have international reinsurance broking capabilities across the globe. This new cedent led division will complement those operations and be a platform that we can expand both in class and territory,” said David Bearman, founder and CEO of Consilium’s parent group Aventum.

Consilium is the international broking re/insurance arm of Aventum, the independent specialty insurance groups, trading more than US$1.25 billion GWP annually, with 14 offices globally. Through its broking arm Consilium, and its global MGA operation, Rokstone, Aventum offers clients a range of specialist and niche solutions in all lines of property/casualty re/insurance globally.

Source: Consilium

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Reinsurance

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