Consilium Soars in 2023: A Year of Strategic Triumphs and Ambitious Targets

The year ending June 2023 has been nothing short of extraordinary for Consilium.

With an impressive 35% growth in revenue, Consilium boasts a Gross Written Premium (GWP) of USD 600m. But this is just the beginning of our ascent.

Fueling Success Through Innovation

At the heart of Consilium’s success lies a commitment to innovation and nurturing top-tier talent. The strategic investment made in market leading talent and technology has positioned us to seize unparalleled opportunities across various sectors, from Property and Construction to Cybersecurity and Financial Liability lines.

With a remarkable compound growth rate of 39% since 2020 and an 85% increase in our workforce since June 2022, Consilium is not just expanding; we are thriving. The addition of new minds to our team is only the start, with plans for further recruitment in the pipeline.

The Vision Unfolds

Following the appointment of new joint CEOs in November 2022 and January 2023, Consilium’s vision sharpened toward expanding our product portfolio, extending our international reach and inspiring our clients through focus on service standards.

This strategic focus enabled the launch of Cyber, Technology and Fintech, a Cedant Facultative Risk Solutions division, a Specialty Reinsurance Treaty offering and a Specialist Professional and Executive Risk Solutions division.

Opening new offices in strategic locations such as Guernsey and securing licences in Jersey and the Cayman Islands signify our unwavering commitment to global expansion. In addition, consolidating our presence in the UK, USA, Canada, Australia and South Africa through enhanced partnerships illustrates the robustness of our global footprint.

Co-CEO James Baird commented,

Technology as a Driving Force

The essence of our strategy hinges on technology, Co-CEO Paul Richards explains,

The launch of ADA, our Artificial Digital Actuary, serves as a testament to our commitment to cutting edge technology. The machine learning tool ingests and validates data fast, providing MGAs with interactive reports and useful insights, identifying ULR drivers and forecasting future performance. This innovative platform has been welcomed globally, fostering new connections with CAMGA members in Canada and UAC members in Australia, thereby enriching our relationships on an international scale.

A Glimpse into the Future

With a focus on specialty products, global distribution and outstanding service, Consilium stands on the precipice of even greater accomplishments. With a forecasted 42% growth in 2024 and the target of reaching USD 1.4bn GWP by 2026, the path ahead is exciting.

A reflective Paul Richards said, “To say it has been a busy year would be an understatement! We have achieved so much in a short space of time. The last year has been about getting the strategy in place and executing the plan. We have invested heavily in people and operations and we will see those efforts and investments bearing rich fruit in the year ahead."

In just 12 months, Consilium has not just met but exceeded our ambitious targets. James Baird said, “We have exceeded our targets and are well on the way to reaching USD 1.4bn GWP by 2026.”

The trajectory is set. A year marked by strategic triumphs and exponential growth paves the way for an even brighter future.