Consilium launches new unit to target ‘hotbed’ of opportunities
Consilium, the global speciality re/insurance broking business of the Aventum Group, has launched a new cyber, tech and fintech division as it looks to tap new opportunities in these markets.
Tom Abbotts has been appointed associate partner to lead the new division.
A specialist cyber, tech and fintech insurance broker with particular expertise serving the financial lines markets, Abbotts joins Consilium from Elmore Insurance Brokers where he was one of the founding members and led the cyber, technology and fintech team.
The new division will work closely with Consilium’s financial lines broking team, ProEx, servicing its client base initially across all major international finance centres including UK, Channel Islands, Cayman Islands and Europe. It will further draw on its broad network and knowledge base to develop new opportunities across the globe.
Abbotts said: “I’m delighted to be joining Consilium to lead its new Cyber, Tech and Fintech division. The market has matured massively in the last few years. There’s now much greater awareness of the products and the risks and policies are increasingly more sophisticated. Financial Lines is a particular hot bed for Cyber. There’s strong demand driven by client needs and increasing regulatory demands. In the future, we could well see Cyber being made compulsory in the same way as Employer’s Liability in the UK. Brokers and clients will be looking to work with those who have proven expertise across both Cyber and within their specialist markets and territories.”
Paul Richards, co-CEO of Consilium (pictured), commented: “We’re delighted to welcome Tom on board. He has immense expertise and knowledge of Cyber, Tech and Fintech and we are incredibly fortunate that we continue to attract leading talent to our ranks. Driven by our entrepreneurial winning culture, ambitious professionals like Tom can clearly see the opportunity and want to play a part in creating one of the best global specialty (re)insurance broking businesses in the world. We will be investing further in growing the new division both in class and territory, and in time see it as an important complementary offering across all core lines of the business, allowing us to offer clients a complete packaged offering under one roof.”
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