Consilium launches cedant fac reinsurance division

Consilium, the reinsurance broking business of the Aventum Group, has launched a new cedant-driven facultative reinsurance division. It will be led by Simon Richardson (pictured above) as managing partner.

Richardson will join Consilium from Besso Re after completing his notice period. 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.

According to Consilium, the new facultative division will complement its existing international broking operations and will draw on its broad network and knowledge base to develop new opportunities worldwide.

“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,” Richardson said. “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.”

“Simon has immense expertise and knowledge and a strong track record of establishing successful cedant-driven fac reinsurance operations,” said David Bearman, founder and CEO of Aventum, Consilium’s parent group. “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.”