Aventum has bought consultancy firm Mulberry Risk.
The acquisition, said Aventum, is a ‘seminal development’ in its stated aims and ambitions.
Mulberry risk provides actuarial, analytical, exposure and capacity management services to MGAs. The services will be available to Aventum and externally marketed to the wider industry.
David Bearman, CEO of Aventum Group, said: “Joining the Aventum Group and their investment in us is hugely exciting – not only for us as a business, but in terms of what this means for the wider market. I cannot overstate the potential significance of what we are now able to offer MGAs to help them better compete and indeed outperform incumbent insurers.”
He added: “From securing the capacity, to helping them retain it for the long term, we’re now a powerful one stop shop for MGAs to help them grow their business exponentially.”
Aventum is not a new player in the market, having rebranded from Direct Insurance last May, when it brought together its UK and international teams. Details of the transaction between it and Mulberry Risk were not disclosed.
