Direct Insurance has announced it has restructured and rebranded to Aventum, in a move that it said will position it for the next stage in its journey.
The restructuring brings together the group’s UK and international teams into one combined global insurance group with two distinct businesses – underwriting and broking.
In the UK, Direct Insurance London Market (DILM) will change its name to Consilium, and will be the international broker’s UK operation.
Consilium will now be Aventum’s international speciality wholesale (Re)insurance broker, bringing together the group’s global broking operations. Additionally, Rokstone will now act as the group’s international speciality (Re)Insurance MGA, bringing together its global underwriting operations.
Consilium and Rokstone together are centred under one homogeneous brand, Aventum, which is currently placing over $600m (£432m) GWP worldwide.
David Bearman, group CEO, Aventum, said: “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. 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.”
He added: “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.”