Consilium, the international re/insurance arm of Aventum, has appointed Simon Richardson to launch its new cedant driven FAC reinsurance division.
Richardson has been named Managing Partner of the new division and following his notice period, will join Consilium from Besso Re.
During his tenure at Besso Re, Richardson served as Head of North America, and helped create the firms global FAC team.
Before joining Besso Re, Richardson was instrumental in the formation of JLT Fac, the facultative reinsurance division of broker JLT Re (North America) Inc.
Prior to that, he also served in senior positions at brokers WTW and Lockton.
Consilium’s new FAC division will complement the firms existing worldwide broking operations, and will draw on its broad network and knowledge base to develop new opportunities across the globe.
Commenting on the platform, Richardson said: “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. It is exciting to be joining such a dynamic organisation that’s never satisfied to accept the status quo.”
David Bearman, Founder and CEO of Consilium’s parent group Aventum, said: “Simon has immense expertise and knowledge and a strong track record of establishing successful cedant driven FAC Reinsurance operations. Our group MGA Rokstone has worked closely with Simon in his previous roles – he was one of the hungriest and most creative brokers in the market, so we’re delighted to welcome him to Consilium.
“We now have international reinsurance broking capabilities across the globe. This new cedant led division will complement those operations and be a platform that we can expand both in class and territory.
