Consilium launches marine division

Consilium launches marine division | Insurance Business New Zealand

Reinsurance

Consilium launches marine division

The new division will deliver unrestricted access to A-rated Lloyd’s and London market carriers

Reinsurance

By
Halee Andrea Alcaraz

Consilium, Aventum Group’s global specialty reinsurance broking business, has launched its new marine division and appointed Thomas Noakes as senior partner.

Starting in June, Noakes will work at Consilium after serving his notice period at Price Forbes & Partners, where he was an associate director.

He has been in in the industry of understanding the challenges faced by marine businesses and cargo owners, bring to the role 13 years’ worth of experience in placing specialty international marine risks such as hull and machinery, protection and indemnity, charterer liabilities, and marine cargo insurance.

The new marine division of Consilium is expected to deliver unrestricted access to A-rated Lloyd’s and London market carriers, as well as specialist marine markets in Asia, Latin America, Europe, and the Middle East.

Consilium said the division is “highly nimble by design” to provide differentiated solutions tailored to the needs of individual clients and the nuances of the regions they operate in.

The reinsurance broking business said it will act “quickly” to create and deploy solutions, providing the necessary clarity during times of heightened uncertainty like increased geopolitical tensions and disruptions in supply chain.

Consilium is also providing solutions to tackle the fallout from the Baltimore Bridge collapse, which it said is expected to be the “most expensive maritime incident” for reinsurers in modern history.

Consilium co-CEO and managing partner Paul Richards commented on the division’s launch and Noakes’ appointment, saying that broadening the company’s range of expertise in the marine market was a “natural step” to being the “most inspiring independent specialty broker” globally.

“Thomas will be a key player as we build out our division, thanks to his expertise, dynamism, and strong commitment to client service,” Richards said in a statement.

He added that consolidation had eroded the remaining options for clients while service has suffered, noting that “these are incredibly exciting times” as the company delivers outcomes for marine customers.

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