Direct Rebrands As Aventum

Lloyds of London Image Portfolio Feb2011

Direct Insurance, the fast growing independent International (Re)Insurance Group, has announced a global restructure and rebrand to Aventum, to position the Group for the next stage in its journey to become one of the biggest and the best global (re)insurance specialty wholesale businesses in the world.

The combined operations of Aventum now control over $600m GWP with a forecasted, adjusted EBITDA of $31m.

The restructure brings together the Group’s 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, bringing together the Group’s global broking operations, and Rokstone is now Aventum’s International Speciality (Re)Insurance MGA, bringing together its global underwriting operations.  Consilium and Rokstone together 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.  Rokstone is already one of the world’s largest MGAs, with offices in the UK, Europe, USA, Asia, Africa and the Middle East, with plans to explore further territories.

The Group also has robust plans for M&A across the Group with a multi-million-pound war chest and an existing pipeline of acquisitions already in progress.

Aventum is independently owned by Group CEO David Bearman, who comments: “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 (re)insurance 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.”

About alastair walker 9024 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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