Global speciality insurance business Direct Insurance Group has restructured and rebranded to Aventum, bringing together its UK and international teams into one combined global insurance group with two distinct businesses, underwriting and broking.
Consilium is now Aventum’s International speciality wholesale re/insurance broker, combining the group’s global broking operations, and Rokstone is now its international speciality re/insurance MGA, bringing together its global underwriting operations.
Consilium and Rokstone are centred under one homogonous brand, Aventum, currently placing over $600m GWP worldwide.
In the UK, Direct Insurance London Market (DILM) will change its name to Consilium, and will be the international broker’s UK operation.
Consilium has further offices in Asia and will be broadening its international footprint in all the major insurance hubs of the world.
Aura Underwriting, iSure, iFarm, Rokstone Construction Risk Underwriters and Novus Underwriting, will all become part of Rokstone, an MGA with offices in the UK, Europe, USA, Asia, Africa and the Middle East.
The combined operations of Aventum now control over $600m GWP with a forecasted, adjusted EBITDA of $31m.
David Bearman, CEO and owner of Aventum commented: “We want Aventum to be a global insurance brand that endures – a lasting landmark in the market. The restructure and rebrand puts us in a strong position – we are fit, agile, focussed and ready for the next stage in our journey to become the best global reinsurance speciality wholesale business in the world.
“These are not baseless statements of intent – we are determined and we’re well on our way. We’ve spent 25 years busily and quietly building a number of individual specialty businesses successfully.
“Now we’re over half a billion dollars we’ve got serious scale, the expertise and the infrastructure to tackle the next leg of our journey. Now the time is right to unveil who we are. We might be at more than half a billion dollars but we’re on an epic journey and the exciting thing is that we’ve only just begun.
“Aventum is hugely entrepreneurial and not afraid to push boundaries. At the same time, we remain fiercely independent, committed to our culture and our people. The Aventum Family is on this journey together. I’m hugely excited about the future – confidently we will explore new horizons and achieve great things for the group and its clients.”