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.
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