Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

Consilium sees 35% revenue surge, aims for $1.4 billion by 2026

EditorRachael Rajan
Published 11/27/2023, 10:52 AM
© Reuters.
0P0000JYZK
-
0P0000JYZN
-

Aventum Group's Consilium has reported a significant revenue increase of 35%, reaching a Gross Written Premium (GWP) of $600 million for the fiscal year ending June 2023. The company has set ambitious targets, aiming to boost their GWP to $800 million by June 2024 and further to $1.4 billion by the end of 2026.

The firm has outperformed its first-quarter budget expectations for the fiscal year 2023/24, continuing a steady annual growth rate of approximately 39% since 2019. This growth is supported by a substantial increase in employee numbers, with an 85% rise post-June 2022, and plans for further recruitment are in place.

Consilium's expansion strategy includes the introduction of new divisions focused on Cybersecurity and Fintech services, targeting the UK and offshore markets. These efforts are complemented by the opening of a new office in Guernsey, as well as the acquisition of additional licenses in Jersey and the Cayman Islands, marking their commitment to territorial expansion.

The company's global footprint has been bolstered through strategic alliances in key regions, including the UK and the USA, and the strengthening of their executive team with senior hires in Chief Claims Officer and Chief Operations Officer roles.

In line with their service improvement strategy, Consilium has launched ADA (Artificial Digital Actuary), a proprietary machine learning tool developed to provide advanced data analysis tools for brokers. This tech transformation initiative is part of Project Inspire, which also includes the deployment of an advanced policy administration system to enhance client interactions.

Significant industry partnerships, such as those with CAMGA and UAC, support Consilium's global distribution strategy, offering their delegated authority brokers actionable insights into portfolio performance and competitive advantages in securing capacity and boosting underwriting profits.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.