Consilium obtains license in Cayman Islands

Consilium obtains license in Cayman Islands | Insurance Business America

Insurance News

Consilium obtains license in Cayman Islands

It will focus on various sectors in the region

Insurance News

By
Mika Pangilinan

Consilium, an international (re)insurance broker under the Aventum Group, has secured a license from the Cayman Islands Monetary Authority (CIMA).

This development will see Consilium extend its focus to serve the Cayman regions in the financial and professional lines, in addition to the construction and commercial property sectors.

“We’re delighted to add the Cayman Islands to our growing list of licensed jurisdictions,” said James Baird, joint CEO of Consilium. “We look forward to reconnecting with clients in the region and developing new relationships. Thanks must go to CIMA for their support throughout the smooth application process.”

Consilium’s expansion in the Cayman Islands comes on the heels of other licensing achievements. Earlier this year, the Aventum company was licensed to operate in Jersey earlier this year. It also received a license for Guernsey in 2022.

A Top 50 broker in the UK, Consilium has a network of 15 offices globally supporting its brokers and direct clients in several specialty lines including financial and professional liability, commercial property, construction and cedant FAC reinsurance.

In May, it announced the launch of a new cyber, tech, and fintech division led by associate partner Tom Abbotts. The division is initially focused on serving clients across major international finance centres such as the UK, Channel Islands, Cayman Islands, and Europe, but there are plans for further expansion.

Consilium also recently formed a specialty treaty reinsurance division that offers both proportional and non-proportional solutions.