Aventum World - Winter 2023 l ISSUE 6

WORLD

WORLD SIXTH EDITION l WINTER 2023 FIRST EDITION l JULY 2021

AVENTUM WORLD | WINTER 2023

1

CONTENTS 2

AVENTUM WORLD | WINTER 2023

10 OLLIE’S WINNING WAYS: RECORDS AND RACING INTO F1 In the exhilarating world of Formula 2, where speed is king and precision is paramount.

03 04 06 08 10 12 21 26

MESSAGE FROM OUR CHIEF EXECUTIVE OFFICER NEW RECRUITS TO THE BUSINESS

WINTER WELLBEING

BYTE BY BYTE: A CYBER UPDATE WITH TOM ABBOTTS OLLIE’S WINNING WAYS: RECORDS AND RACING INTO F1 GROUP NEWS

CORE TEAM NEWS

EVENTUM

A UNIFIED

FUTURE Let’s celebrate the power of unity this festive season.

Just as every gear in an engine contributes to speed, our collective efforts pave the path to greatness.

Wishing everyone a joyous holiday period and a new year brimming with possibilities.

In recent months, we have seen a number of initiatives and developments across the Group, but there is one which is significant and close to my heart. The recent launch of our Share Options Plan signposts a new future - one where we all have shared ownership in Aventum and can benefit from our collective efforts.

Having spent some time in the Formula 1 garages this year, one thing that really stood out to me is that it takes hard work, commitment, communication and the precision of every single person in a high performing team - regardless of their rank - to achieve greatness.

I continue to be proud of you all and I’m certain that 2024 will be another fantastic year for the Group. I wish you all an enjoyable break with your friends and family over Christmas and into the New Year.

David Bearman CEO - Aventum Group

NEW RECRUITS TO THE BUSINESS Aventum Visionaries: Meet Some of the Newest Family Members.

We always want people who bring not only their skills and experience to the table but also individuals who align with our core values, embodying the essence of our shared journey.

Hasani wants Aventum to be recognised not only for insurance excellence but also for a technology first approach that differentiates the broker, underwriter and client experience. We love the sound of that!

Meet some of our newest family members and stay tuned to see the positive impact they will have on the Group, our clients and our industry as a whole as we continue to push the boundaries of what is possible.

ROBERT MOOREHEAD-LANE As Chief Risk Officer, Robert Moorehead-Lane works to underscore our commitment to managing risk effectively and ensuring that we deliver value at every turn.

AVENTUM

ROSS BEEDEN

ROBERT MOORHEAD-LANE

HASANI JESS

Joining the Group as the first ever Chief Technology Officer, Hasani brings 25 years of experience and expertise to the Group, making him the ideal choice to lead the charge in building a sophisticated technology ecosystem that will drive our sustainable growth.

SIMON RICHARDSON

Robert brings with him 25 years of experience and with it a profound understanding of risk and an impressive track record of strategic risk management.

His appointment highlights our proactive approach to addressing challenges and seizing opportunities in an ever evolving business landscape.

HASANI JESS

MICHAEL NUKK

CONSILIUM

ROSS BEEDEN AND SIMON RICHARDSON

Based in New York, Michael Nukk is poised to navigate our marine division, joining Rokstone from AIG where he served as Head of Marine for North America. With more than two decades of experience in the Marine space, Mike spent almost 20 years at Liberty, as its SVP Global Marine Practice Leader and Marine Chief Underwriting Officer.

In exciting recent developments for Consilium, Ross Beeden and Simon Richardson have been appointed as Managing Partners of the new Cedant Facultative Risk Solutions division.

Previously holding pivotal roles in setting up global FAC teams at major firms, Ross works alongside Simon, whose sector experience lies in International Property.

Setting sights on growing the Marine portfolio in North America significantly in the next five years, Mike’s focus will be on the middle-market North American business, where he sees vast potential and untapped opportunities.

Both Managing Partners are poised to make an impact in the global FAC reinsurance landscape.

They previously collaborated to establish FAC teams at JLT and Besso Re, cementing their status as an all-star team in the industry.

ALEX BERISHA After clocking up an impressive 17 years at Liberty, where he was Vice President US Marine Cargo Manager, Alex is here to captain our marine ship as Head of Cargo - North America.

ROKSTONE

JORDAN LANFORD

Incredibly experienced and well known across the market, Alex joins Mike Nukk who also previously spent 20 years at Liberty and was himself appointed as Head of Marine at Rokstone earlier in November 2023.

With a career spanning over 20 years, Jordan Lanford joins the Rokstone family as Global Head of Aviation, based in Atlanta. What makes Jordan’s journey extraordinary is his start as a commercial pilot and flight instructor - paving the way for a unique understanding of aviation’s intricacies.

DEREK VANDERMYDE

DEREK VANDERMYDE

In an additional appointment to the fast growing North America Marine team, Derek joins Rokstone as Underwriting Manager, North America Marine.

Derek was previously at Starr Insurance and, before that, spent five years at Lexington Insurance as a Senior Underwriter. He is a specialist in both retail and wholesale transportation.

ALEX BERISHA

MICHAEL NUKK

JORDAN LANFORD

His remarkable 17 year stint at AIG, culminating in his role as Head of Aerospace for North America, speaks volumes about his passion and commitment to the industry. With Jordan as Captain, we hope to elevate our Global Aviation Team to new heights in the aviation sector, with a focus on North America and the Middle East.

WINTER

Wellbeing As the days grow shorter and temperatures drop, it is essential to prioritise your wellbeing, especially in the workplace.

At Aventum, we understand the significance of employee mental health, which is why we offer a range of support systems, from Mental Health First Aiders and mind coaching to personal training sessions and in-office massages.

Winter doesn’t have to be gloomy and there are some ways that might help to stay upbeat and focused this winter.

KEEP THINGS BRIGHT Reduced daylight in winter can impact mood and productivity. Combat darkness by keeping your workspace softly lit. Take regular screen breaks to step outside, even if it’s chilly. A brisk walk can invigorate the mind and body.

TAKE A WALKING MEETING Ditch meeting rooms and try walking around a local park or heading to your favourite coffee shop.

Research has shown that walking meetings can encourage more creative thinking and reduce the pressure of formal settings.

CHANGE OF SCENERY Sometimes, a simple change of surroundings can work wonders for your motivation. Consider changing your workspace for the day. Altering your environment can be a refreshing change of pace and perspective.

6

AVENTUM WORLD | WINTER 2023

REFRESH YOUR OFFICE The state of your working environment can affect your mood. Add a plant, rearrange your desk, declutter, invest in a new office chair, hang new pictures. These small changes can make a big difference and contribute to our overall sense of self-care.

PRACTICE MINDFULNESS Think you haven’t got time to clear your mind? Think again. Embrace your inner zen when taking a deep breath just doesn’t cut it. Try the simple ‘5-4-3-2-1 Countdown’ to clear your head. It’s a quick and effective way to stay grounded.

IT WORKS LIKE: 5 things you can see 4 things you can feel 3 things you can hear 2 things you can smell 1 thing you can taste Remember, your wellbeing matters and we are here to support you every step of the way. This winter, let’s be beacons of resilience and positivity.

These small steps can help keep spirits high and minds clear.

1

2

3

MENTAL HEALTH NAVIGATORS 1. CIARA MASLEN ciara.maslen@aventumgroup.com 2. NOURIN CHOUDHURY nourin.choudhury@aventumgroup.com 3. LEAH WALKER

4

5

6

leah.walker@aventumgroup.com 4. ELLA PETERS ella.peters@aventumgroup.com 5. REECE RANSON reece.ranson@rokstoneuw.com 6. MICHAEL ADAMS

7

8

9

michael.adams@consiliumbroking.com 7. LEE ROGALSKI lee.rogalski@consiliumbroking.com 8. AYLAM KHAN aylam.khan@aventumgroup.com 9. TILLIE COOPER tillie.cooper@consiliumbroking.com

10

11

12

10. SOPHIA BARBER sophia.barber@consiliumbroking.com 11. KELLY WILLIAMS kelly.williams@ifarmunderwriting.co.uk 12. KAREN CANT karen.cant@aventumgroup.com

13

14

15

13. AISLING BROWNLOW aisling.brownlow@isureunderwriting.ie 14. JUNE FURNER june.furner@aventumgroup.com 15. CHARLOTTE JACKSON charlotte.jackson@rokstoneuw.com

16

17

WELLBEING AT AVENTUM 16. STEVE DESBOROUGH MIND COACHING steve.desborough@aventumgroup.com 17. JAMES FEWTRELL PERSONAL TRAINING james.fewtrell@aventumgroup.com

AVENTUM WORLD | WINTER 2023

7

BYTE BY BYTE:

A CYBER UPDATE WITH TOM ABBOTTS

In the realm of Cyber, Technology and Fintech insurance, Tom Abbotts, an Associate Partner at Consilium, brings a unique perspective shaped by a journey that started at the age of just 16.

In a quickfire Q&A, we delve into Tom’s experience, his insights into the evolving Cyber insurance space and the impact of technology on this dynamic industry.

Q: Let’s kick things off with an interesting fact about yourself.

T: An interesting fact about me could be that my middle name is ‘Tiger’ - inspired by none other than Tiger Woods.

Q: Tell us about your background. How did you get into the Cyber, Tech and Fintech space?

T: I got into the Cyber, Tech and Fintech insurance space by spearheading a focus on these sectors at my previous firm which we started when I was 16, fresh out of school. We initially solely focused on Cyber, however we were probably a bit too early to the game back in 2015.

We made 150 cold calls every day and the person on the other end of the phone had usually never heard of Cyber insurance before. Some people even thought we were trying to hack them! The market was very soft for Cyber when we started the business so we diversified into financial lines and that transitioned naturally into Fintech.

8

AVENTUM WORLD | WINTER 2023

Q: How has the Cyber Insurance space evolved during your career?

T: Almost a decade into my insurance career, Cyber has changed a lot. With the rise of ransomware losses in 2020, the market began to harden significantly. We are now softening again and perhaps finding a good middle ground. That said, the market is cyclical and the New Year reinsurance renewal may mean a rate increase.

Q: What does the ‘average’ day look like for you?

T: On an average day, I’m usually in the office by 8:30am. I’ll start by reading the City AM news paper and scanning LinkedIn for topical news.

Meetings and calls tend to start from 9am and will often continue through the day with the occasional break for emails.

I have lunch with an underwriter I work closely with and an afternoon coffee with another to discuss any deals we are working on. I leave the office around 6pm and sometimes will head to a networking event.

Q: How has technology impacted Cyber Insurance?

T: Technology has impacted it for the better, in my opinion. It has made insurance more accessible to small firms since insurers tend not to have the resources to handle high volume, low premium business.

Cyber insurance is slowly moving away from traditional PDF and Word proposal forms to complete the standard underwriting assessment, to cyber security risk assessments. This typically means an insurer or broker will, in-house or using a partner, conduct a non-intrusive virtual scan of a firm’s digital footprint using publicly available information to identify vulnerabilities insurers need to be aware of.

Q: How does your role support the Consilium team and wider Aventum Group?

T: My role supports the wider Consilium team by cross selling Cyber to other teams within the business to ensure our clients are protected from Cyber risks. Cyber insurance applies to almost all firms - as long as you have a website and use an operating system/PC, you will need Cyber insurance.

LLIE EARMAN:

Records and Racing into F1 In the exhilarating world of Formula 2, where speed is king and precision is paramount, Aventum sponsored driver Ollie Bearman is writing a thrilling chapter in his racing career. With a lengthy 12 week gap between the penultimate race of the season and the grand finale in Abu Dhabi at the end of November, Ollie isn’t one to sit around twiddling his thumbs.

WHAT DID HE DO IN THE BREAK? In a record breaking moment, Ollie only went and made his Formula 1 debut with the Haas Formula 1 team in Mexico City. Becoming the youngest driver to ever test in Formula 1 Free Practice, a record previously held by Lando Norris, the Haas team was impressed by Ollie’s preparation, engagement with engineers and seemingly unshakable composure.

Ayao Komatsu, the Director of Engineering at Haas, praised Ollie, saying,

He did not put a foot wrong!

F2 SEASON SUMMARY Ollie’s inaugural season in Formula 2 has been nothing short of sensational. A true star in the making, he left an indelible mark on the grid by securing victories in both the Sprint and Feature races on the heart-pounding streets of Baku, Azerbaijan.

He continued his winning streak with triumphs in the Feature races of Barcelona, Spain and Monza, Italy. Securing four pole positions, a fastest lap, five podium finishes and four victories, it is not surprising Ollie caught the eye of North Carolina-based Formula 1 racing team Haas.

Back in the Haas for Free Practice 1 in Abu Dhabi, Ollie jumped into the VF-23 Haas of Nico Hulkenberg before taking to the Yas Marina circuit for the last Formula 2 race of the season. Despite being the youngest driver in action at the Yas Marina circuit, he exhibited the racing prowess that has come to be associated with him throughout the season. Ollie finished sixth in the Driver Championship in 2023.

AVENTUM WORLD | WINTER 2023

11

GROUP NEWS

01 Mulberry Risk

In 2023, Mulberry Risk got a brand new look. The epitome of sophistication and powered by cutting edge technology, the Mulberry makeover went hand in hand with the relaunch of ADA - our Artificial Digital Actuary.

But the excitement did not stop there. This summer, Mulberry Risk was nominated at the Tech and Innovation Awards - going on to achieve bronze recognition at the prestigious ceremony in September. Designed to recognise outstanding initiatives and teams that embrace emerging opportunities in the rapidly evolving insurance world, the awards celebrated the best in the UK general insurance technology and innovation landscape.

12

AVENTUM WORLD | WINTER 2023

Consilium Boasting 35% growth in revenue for the year ending June 2023, Consilium has had an impressive year, with a compounded growth rate of 39% since 2019.

Under the guidance of our joint CEOs, we have executed a strategic plan focused on diversifying our product portfolio. We proudly introduced new offerings, including Cyber, Tech and Fintech, a Cedant Facultative Risks Solutions division, a Specialty Reinsurance Treaty offering and a Specialist Professional and Executive Risk Solutions division.

Our global footprint has expanded with the opening of an office in Guernsey and the acquisition of licences in Jersey and the Cayman Islands. We have strengthened our international reach, forming key relationships in the US, Canada and Australia.

Currently exceeding Q1 23/34 budget expectations, we anticipate a robust 42% growth in 2024, propelling us toward our ambitious goal of reaching $1.4 billion GWP by 2026. Both Paul and James are excited about the road ahead, emphasising the importance of speciality products, global distribution and a retail approach to wholesale service.

The past 12 months have laid a strong foundation for our future ambitions and we are eager to see the fruitful results of our efforts and investments in the years ahead.

Consilium: Risk Solutions With the recruitment of Richard Ellis as Property Placement Broker, the historically challenging class has achieved notable success. In addition, Tom Gibbins as Non Motor New Business Executive enriches the talent pool, alongside the promotion of Sol to Non Motor New Business Manager. A strategic agreement with BRIT brings SME business in house, promising improved service and client relationships.

02

Motor continued its success, securing some substantial six figure accounts, with many committed to Long Term Agreements.

The team joined forces with the Professional & Executive Risk Solutions team visiting Toronto in Canada to meet with both Casualty and Financial Lines Brokers and MGAs in October. It was a jam-packed trip with 14 positive meetings taking place over two and half days!

The division’s commitment to collaboration and fun was evident at a karting event at Buckmore Park. 30 of our top supporting brokers tested their racing abilities against the Consilium team - with Liam Keaveney securing the highest finishing Consilium position in third place.

AVENTUM WORLD | WINTER 2023

13

GROUP NEWS

03 Consilium: Cedant Facultative Risk Solutions The team is happy to announce that CV Starr US, Allianz US and IGI London have given the green light to start using Consilium Brokers. In addition to this, Swiss Re US has recognised our excellence and agreed to include Consilium Brokers on their Preferred Broker list.

Our winning streak continues with impressive deals secured, including sizable wins from our London, South African and US Clients.

Looking forward, our team is delighted with a pipeline of business opportunities, a direct result of recent approvals. Into 2024, we look to explore new revenue streams through Captive Reinsurance.

Consilium: International Property Risk Solutions We have received exclusive Lat Am capacity for a CPE Lineslip from a Lloyd’s syndicate, opening doors for business from lots of key players in the CPE space.

Eugenio Leon Martinez joined our Broker Support Team, bringing language skills and a deep understanding of how to do business in our biggest producing territory, after spending several years working for a retail broker in Mexico.

Jorge and Christian attended the Fides Conference 2023 in Rio de Janeiro, meeting current and new clients and markets from across Lat Am. A hectic conference, where meetings are in the style of speed dating, we have since seen an increase in enquiries following the conference.

Christian also attended the Mexican Grand Prix in support of Ollie Bearman, who became the youngest driver to test in F1 over the race weekend. Christian spent some of the weekend with current clients and prospects.

Consilium: Delegated Risk Solutions

04 Consilium: Professional & Executive Risk Solutions

The team renewed challenging business contracts in 2023, including Caribbean Assurance Brokers Domestic and International Private Medical. We also brought across Energy line slip AMIR, from Ed Broking, for Asia Mideast Insurance. The team is actively working on launching Rokstone Transportation and securing new capacity for Rokstone CRU. In terms of new opportunities, DRS boasts a strong pipeline with 18 third-party targets and 8 new capacity placements for Rokstone. The team’s growth is evident through the addition of several new hires. Promotions within the team include Jamie Baker’s elevation from Associate to Senior Associate and the advancements of Eshani Reddy and Tillie Cooper to Associate Partners.

Recent business events like the MGAA Conference and MGAA Capacity Exchange demonstrated the team’s active participation and engagement in the industry. We also have exciting social events on the horizon, including Christmas and beyond.

The team is on a winning streak, exceeding goals and showing impressive growth. Show -casing excellent performance, in recent months the team celebrated significant victories and welcomed new clients into the fold.

The team has grown stronger with two valuable additions in October 2023; James Read and Roxy Zeb. A Financial Lines Broker is joining in February and the team is actively trying to fill three more positions. Always keen to nurture internal talent, Lee Rogalski was promoted to Partner, while Katherine Jardine was promoted to Senior Associate.

We are actively investing in tools to enhance our capabilities, such as the adoption of KYND - a robust Cyber reporting tool which will help market and develop new Cyber opportunities.

GROUP NEWS

05

iSure UK 2023 has been a year of stabilisation for iSure UK. In the past 12 months, our Sports and Leisure product faced the challenge of a rate increase in Q1, which impacted sales.

However, we are pleased to report positive signs with a notable increase in new business conversion as we get further into Q4. We have worked closely with the iFarm team to enhance the distribution of our respective products.

New team resources provide a positive outlook for S&L sales, with expectations of an upward trend.

Victoria Faithful and Kate Ball joined our Medical Malpractice team, elevating service levels. Our Medical Malpractice and Allied Health book has continued to grow, complemented by an excellent loss ratio, showcasing the team’s dedication and expertise.

Aura In early 2023, Aura displayed unwavering determination to retain its dominant position in the specialised Caribbean niche it serves.

Despite capacity shortages and ultra-hardening of the property CAT Market, Aura closed the first six months of the year having written $13 million GWP while maintaining a total loss ratio of 0%, encompassing both CAT and non-CAT losses.

Aura has continued its commitment to collaborative work within the Aventum family, writing $290k of premium placed by our broking partners at Consilium and placing an additional $300k of premium under Rokstone capacity as a fellow market of Aura.

Into 2024, Aura now focuses its attention on the renewal of its binder in 2024 and through a close relationship with Delegated Risk Solutions, we hope our combined efforts can yield results in the form of additional capacity.

16

AVENTUM WORLD | WINTER 2023

Exciting times are on the horizon as we have established additional key broker relationships, not only opening opportunities in the hair and barber space but also extending our reach into Ireland.

The team is poised for a promising future - thank you all for your support. Here’s to a prosperous 2024.

iSure Ireland

06

Novus

Novus achieved a remarkable milestone in its 2023 performance, marking our best-ever financial year. Our achievements include substantial growth in our consumer product portfolio and a notable increase in profitability to our valued capacity providers.

As we look ahead to 2024, iSure aims to reach a GWP of €25 million by year-end. Achieving this goal has resulted in some strategic changes within the team.

Sabrina Brennan now leads the New Business Package team, with a focus on growth and underwriting controls. Aisling Brady moves to bespoke iSure Commercial Combined Renewal business, now our largest product in Ireland. Lewis Philips moves to Technical Portfolio underwriting to help us stay ahead of underwriting trends.

Orlaith Murray moves to Team Leader of the IBA team, which also sees the addition of Charley Louise Hoare and Martin Tejerina, Denise Leddy joins the Existing Business team and Lee Atkins joins as Development Underwriter.

We are delighted to have launched Professional Indemnity into the Irish market, headed by Josh Smith and Avril Cox. We also attended Meet the Market in Dublin, further establishing our presence in the Irish market.

With determination and support, our team is poised for a successful 2024.

We proudly welcomed new members to our team: Claire Carpenter as Head of Consumer Outcomes, Steven Taylor-Sales as Complaints Manager and Sebastian Johns-Powell and Olivia Davey, who joined the team under the leadership of Charlie Ward.

In the spirit of fostering international relationships, in 2023, David, Phil, John and Grant had the privilege of visiting Luzern, Switzerland, at the invitation of Swiss Re. The visit was a key step in strengthening our collaborative ties with the Swiss Re team.

The team’s participation at the Singapore Reinsurance Conference was a resounding success. Our delegates received a warm reception and were in high demand, engaging with existing and potential new clients.

During Summer 2023, the Novus team embarked on a memorable yachting adventure on the Solent. This experience allowed everyone to acquire new skills, from helming a yacht to mastering the art of swimming against the tide.

Rokstone Agriculture

07 iFarm

The iFarm team has had a transformative year filled with notable achievements.

Our team successfully executed an underwriting remediation plan, resulting in double digit rate strength for two consecutive years. This has significantly improved our loss ratios over the past 12 months, reflecting the dedication of our team in what has proved the most challenging year since the business launched.

2023 witnessed substantial developments, marked by change, the integration of new team members, an organisational restructure and numerous process enhancements. As a result, our service levels have rebounded, supported by positive feedback from our broker partners.

The restructure brought about refined team dynamics, enhancing workflow efficiency.

This realignment has positively impacted our operations, with the trajectory of our KPIs now favourable, confirming the effectiveness of the improvements.

In anticipation of the holiday season, the iFarm team is planning their Christmas get together, promising to be a well deserved celebration after a challenging year.

18

AVENTUM WORLD | WINTER 2023

Closing the 22/23 financial year with a remarkable $26 million GWP is an achievement that not only signifies financial success but also represents a significant milestone in our journey at Rokstone.

We reached our Year 4 target income only 23 months after joining the company.

One of the most exciting developments is the launch of Verus Claims Services, dedicated to handling RARU’s Livestock claims. This service marks a pivotal step in our commitment to efficient claims management and customer service. We welcome Payton Burdine as a Claims Specialist for Verus Claims.

Recent months have seen RARU participating in industry events, including the Texas Cattle Feeders Annual Convention and Target Markets Annual Conference. We are preparing to exhibit at the National Cattlemen’s Beef Association Annual Convention in February 2024.

While we have celebrated successes, we also acknowledge the challenges we have faced, notably our Livestock Mortality product. In 2023, we experienced losses exceeding historic frequency and severity. However, we remain committed to addressing and overcoming these challenges as we move into a promising future.

At Dare to Discover 2023, we won the Aventum Group prize draw for International Groups. We won 1,000 GBP and used it to book a fishing/site-seeing charter boat while at our meeting in Cabo. (pictured below).

Rokstone CRU In 2023, Rokstone CRU made strides in enhancing our carrier partnerships. Expanding ties with Builders, an Atlanta based, A-rated insurance carrier, marked a pivotal move.

Builders now supports both Wood Frame Builders Risk and Lead Excess products, amplifying our reach in Workers’ Compensations and Construction insurance. Their expertise aligns with our focus, empowering us to offer comprehensive solutions and compete effectively.

Rokstone UW Rokstone Group has undergone remarkable growth and transformation in the last five years, positioning itself as a dynamic player in the underwriting world.

As of February 2023, James and Ian proudly declared that we were a USD 1bn MGA and we are now targeting a minimum of USD 1.2bn in GWP for the current financial year while maintaining top quartile loss ratios.

In November, Rokstone welcomed Munich Re to our capacity panel, underscoring our commitment to delivering excellence in the dynamic landscape of property risks.

Rokstone has recently launched Aviation with Jordan Lanford as Rokstone’s Global Head of Aviation. Allianz is supporting this portfolio and we have secured USD 10m Hull and USD 25m Liabs. Jordan is one of the most experienced and knowledgeable aviation underwriters in the world and will be growing and developing a global market leading aviation portfolio. We are thrilled to have him on board.

In addition to Aviation, Rokstone has also welcomed Mike Nukk, Alex Berisha and Derek Vandermyde to the group as our new North American Marine team. They all bring extensive experience and knowledge to Rokstone and are incredibly well known in the market. This team plans to grow the marine portfolio in North America aggressively from a startup to USD 100m in five years, focussed on middle market North American business.

Rokstone has recently restructured into three distinct verticals, each headed by accomplished industry leaders.

SPECIALTY

Led by Nadine Kearney, Specialty encompasses Property and Aura, Power Generation, Engineering

This partnership strengthens our foothold in the market, reflecting our commitment to excellence.

As we embark on this new chapter, we anticipate growth opportunities, aiming to deliver innovative and reliable insurance solutions to clients and brokers alike.

In November, we also attended the IRMI Construction Conference 2023 in Orlando, Florida, rubbing shoulders with the biggest names, visionaries and trailblazers in our industry.

MIKE PILLA CEO - Construction Risk Underwriters

and Construction, US Wood Frame Builders Risk, US General Liability, Aviation, Marine Specialty and Cargo, Property Risk Excess and Surety Treaty.

Rokstone aims to expand this vertical’s GWP to $1.6 billion by 2028, targeting growth in the London market wholesale and US E&S market.

COMMERCIAL Under the leadership of Gavin Dollings, Commercial focuses on digitally distributed SME portfolios and innovative technology driven products. These include iFarm, iSure, Waste and Recycling, US Livestock, US Farm and Ranch, PI, UK D&O and Sports and Prize Indemnity.

The goal with Commercial is to grow this vertical to over $500 million GWP by 2028.

CONSUMER Spearheaded by John McGonigle, Consumer aims to excel in controlled, risk-managed platforms for underwriters in areas including Novus Affinity and Warranty, Accident and Health, Pet, Travel, Legal Expenses and Rokstone Special Risks.

Rokstone aspires to grow this vertical above $600 million in GWP by 2028. Any new business with a significant element of consumer exposure will fall under this vertical.

GROUP NEWS

08

Launch Control: Rokstone’s Newest Products In an impressive year for Rokstone, 2023 witnessed a series of strategic launches that reshaped the landscape of the insurance industry. From PI to Global Aviation, Rokstone’s commitment to innovation and growth took centre stage.

PROFESSIONAL INDEMNITY - IRELAND iSure launched an exclusive PI facility in Ireland with A+rated capacity. Led by Avril Cox, the strategic expansion began with a select group of trusted brokers before a wider distribution.

DIRECTORS & OFFICERS Rokstone strengthened its financial lines presence by expanding into D&O, targeting underserved SME and Mid-Market risks in the UK and EEA, with Jimmy Heaton at the helm.

SPORTS AND PRIZE Tailored to sports-related companies, with sports analytics and underwriting expertise, S&P provides unique solutions that address market challenges such as high premiums, limited capacity and low risk appetite.

FARM AND RANCH Designed to meet the unique needs of the Agriculture market, Farm and Ranch bundles Property, Auto and Excess coverage to deliver much needed capacity.

US TRANSPORTATION Driven by Transport specialist Joe Philips, Rokstone Transportation features three initial product lines, including Motor Physical Damage, Cargo Insurance and Truckers General Liability.

ACCIDENT AND HEALTH Incorporating Accident, Health and Travel, Rokstone A&H is backed by a panel of A-rated carriers and has a broad range of international appetite, catering both to Commercial and Retail Markets.

From niche markets to complex risks, the scope of new products in 2023 demonstrates Rokstone’s pioneering spirit in addressing diverse and underserved sectors.

MARINE - NORTH AMERICA Mike Nukk, Alex Berisha and Derek Vandermyde will grow the Marine portfolio in North America from a startup to $100m in five years, focusing on middle market, North American business.

CONTINGENCY

GLOBAL AVIATION

Focusing on niche and complex business in the Events landscape, Contingency empowers you to face the unpredictable with unprecedented confidence.

Delivering on a plan to expand our global aviation footprint, the initial focus in the US will be on the Aviation SME segment.

20

AVENTUM WORLD | WINTER 2023

CORE TEAM NEWS Operations and IT As we reflect on 2023, IT is proud of our commitment to empowering change and enhancing services, which has resulted in remarkable achievements and exciting developments in the past 12 months.

In 2023, we embarked on an ambitious mission to migrate our infrastructure and services. With lots of moving parts, the migration took months, but upon successful completion, we gained more control and boosted our security. With this migration came a host of other benefits, including: Infrastructure upgrades The launch of the IT Base page Upgraded hardware in several offices.

We are still actively working on many exciting projects, including implementing Windows 365 virtual desktops for our development team.

While we bid farewell to Yasir, we are excited to welcome a new team leader. Additionally, we are recruiting two IT Services Executives, one in the UK and one in the US. We are excited about the future. Here is to a successful and innovative next 12 months.

09 Technology & Innovation 2024 is set to be a transformative year for Aventum following the appointment of Hasani Jess as our first Chief Technology Officer.

Aventum has long been an organisation with innovation rooted in its DNA, but next year is all about accelerating the implementation of technology solutions to set us apart from our peers.

We plan to significantly invest in people and partnerships to deliver unique platforms. We will harness opportunities brought about by developments in Artificial Intelligence and Machine Learning to provide a world class technology infrastructure and support our mission to be the ‘most inspirational specialty insurance group in the world’. Watch this space over the coming weeks for a big announcement from the team for 2024 and beyond.

AVENTUM WORLD | WINTER 2023

21

CORE TEAM NEWS

Marketing The Marketing team has grown in 2023 with the addition of ‘The Three Marketeers’. Molly Cockburn, Louisa Dewey and Kay Stevenson now spearhead the marketing efforts for Consilium, Rokstone and Aventum respectively, as Senior Marketing Executives. Joining them is the talented Debbie Freire, our new Senior Designer, who recently became an integral part of our creative force.

The summer season was a whirlwind of exciting events, from the inaugural Rokstone Altitude party to the grand spectacle of our flagship staff event, Amplify.

Rokstone had a series of captivating launches, unveiling multiple portfolios to a global audience.

Consilium is amid a compelling brand refresh, set to be unveiled in early 2024. Meanwhile, the Mulberry rebranding project proved a resounding success, shining a spotlight on ADA. Looking ahead to 2024, our focus turns inward, with a dedicated emphasis on internal communications. The groundwork for Dare to Discover 2024 is already underway and promises to be a spectacle to behold. Stay tuned for more updates as we continue to chart new territories and push the boundaries of what is possible.

Compliance The wheels of change have been turning in Compliance and it’s an exciting time.

Firstly, Grant Peters, our dedicated Head of Compliance, departs at the end of 2023 to pursue new opportunities. We are grateful for his hard work and commitment and wish him all the best for the future.

We have had some fresh faces joining the team, too. On 5 November, Alex Crammell became part of the risk team as an Operational Risk Analyst. Seema Patel recently became Head of Insurance Risk and Rokstone Risk Business Partner. With her extensive experience in the London Market, Seema will undoubtedly enrich our team.

Compliance secured a new Group General Counsel who will oversee our legal and governance function. In addition, we have a new company secretary in the works with details coming soon.

22

AVENTUM WORLD | WINTER 2023

HR In 2023, HR played a pivotal role in supporting Aventum Group through a dynamic and transformative period.

Since January, we have welcomed approximately 80 new employees into the business. We have also successfully implemented the 2023 Remuneration processes, including bonuses and salary increases, ensuring our compensation packages remain competitive and rewarding for all employees.

2023 also brought:

10

The launch of Compass for more streamlined HR processes.

The launch of the UK BASE in January, followed by the US BASE in October, boosting local support for team members.

The introduction of our new learning platform, Ascend, expanding professional development opportunities businesswide.

In 2024, we look forward to the launch of a benefits platform designed to enhance the overall well-being of our workforce, as well as the establishment of HR operations in the US, led by Ester Gramegna.

We wrap up 2023 with heartfelt gratitude to our team and colleagues. Your invaluable contributions have been instrumental in our achievements. Thank you for being an essential part of our journey.

Finance In a year of transformative change, the Finance Team has risen to the challenge and continues on our journey to become the best finance team in the world.

We started the year with a groundbreaking collaboration with HR, launching an all new expenses system and credit card system.

Our thanks go out to those involved in the successful completion of the 2022 financial year audit. Special acknowledgements to Mark Gibson and Argee Santillan, whose exceptional contributions made it all possible.

We have achieved significant reductions in unallocated cash, a tribute to the relentless efforts of the IBA team. The department has also delivered a sleek and robust budgeting process, vastly improved on previous years. Kudos to the team for their dedication and hard work.

As we continue to grow, we are delighted to welcome Max Fewtrell, Sandy Panesar, Claudia Kan and Emily Perrin to our team, with Naomi Louget promoted to Business Partner for Central Services in the FP&A team.

AVENTUM WORLD | WINTER 2023

23

CORE TEAM NEWS

12

Guernsey Gateway: Consilium’s New Office On the picturesque island of Guernsey, Nick Bachmann, Managing Partner of the Professional and Executive Risks Solutions team at Consilium, took a moment to reflect on the first year of business in the new Guernsey office.

Born and raised in Guernsey, Nick’s connection with the island runs deep. In 2010, he began his career in insurance, joining Paul Richards and James Baird at Willis. The Channel Islands have long been a productive jurisdiction to do business and Nick quickly understood that in order to be successful, it was going to take more than simply trying to find the cheapest premium.

“It is all about being part of the local community and building relationships, and trust, from within, rather than being a foreign broker carrying out ‘bombing raids’ eager to fly out with as many proposal forms as possible”. - Nick Bachmann.

Consilium believes this model ensures the best possible proposition for our clients and is why Guernsey was chosen as a new home. It is a model that we are going to replicate elsewhere. We’re doing this in Cayman, having just been granted our license there and it is the intention to do the same in Jersey and Ireland.

When it comes to the types of business nurtured from the new hub, Nick explains the range of financial lines insurances covered from the Guernsey office. He said, “There is a focus on PI, D&O, Crime and Cyber insurances for the wealth management space, including Offshore Law Firms, Trust and Fund Administrator Service Providers, Fund Managers, Asset/Wealth Managers, Accountants and everything in between.”

As the conversation drifts to the future, Nick is delighted with the recent addition of James Read to the team in October 2023. James will focus on sales in the Channel Islands, a testament to Consilium’s commitment to local engagement.

With the team experiencing rapid growth and currently servicing business from all the international finance centres, there are immediate plans to recruit three London-based individuals to keep pace, so we can ensure our clients continue to receive the best levels of service. So, the future is looking very exciting for the Professional and Executive Risk Solutions team.

In a small location like Guernsey, where community has perhaps a more intense meaning, Consilium has found a home for their values - a testament to the power of being a local broker in a global business landscape.

Overview of 2023 Awards We are honoured to showcase such an array of logos symbolising our achievements in 2023 from prominent organisations and awarding bodies.

CONSILIUM

WOMEN IN INSURANCE AWARDS AVENTUM AVENTUM

GREAT PLACES TO WORK - BEST WORKPLACE IN FINANCE AND INSURANCE Aventum Group achieved Great Place to Work certification in 2023 based on positive employee survey responses. This signifies a workplace where all individuals matter as we strive to create an environment where everyone can contribute new ideas and access the resources required to thrive within the Group.

SUNDAY TIMES BEST PLACES TO WORK The list assessed employee engagement and well-being using a comprehensive survey, highlighting our dedication to creating a workplace that nurtures your happiness and personal growth.

ROKSTONE

MGA OF THE YEAR BROKER INNOVATION AWARDS The awards ceremony celebrates innovations of insurance brokers, MGAs and Insurtechs. The win is a terrific achievement at a time when MGAs are under increasing pressure from capacity providers to prove value, and is a worthy accolade for the team.

AVENTUM

FT 1000

Aventum Group proudly secured our position as the 354th fastest growing company on the esteemed FT1000 list in 2023 - highlighting organic growth without acquisitions between 2018 and 2021.

ROKSTONE

Senior Partner and Chief Claims Officer at Consilium, Nicola Chapman was awarded Highly Commended in the category of Claims Professional of the Year at the Women in Insurance Awards 2023.

April Faint, Aventum Group’s brilliant Brand and Marketing Director, was also nominated for Marketer of the Year at the Awards.

We are so proud! Congrats ladies!

2023 NATIONAL INSURANCE AWARDS WINNERS Winning the prestigious MGA of the Year award at the National Insurance Awards 2023, the accolade celebrates excellence in the industry. With 29 competitive categories for companies and teams, the win is a true testament to the hard work and dedication of the Rokstone team.

AVENTUM WORLD | WINTER 2023

25

EVENTUM Amplify: A Night to Remember Picture this: Aventum-branded buses parading through the bustling streets of east London, the promise of an unforgettable night hanging in the early evening air of a late summer night.

Our incredible Aventum family all dressed up in vibrant festival attire - our Amplify extravaganza was nothing short of a sensation.

A FESTIVAL FRENZY We journeyed from the office. Destination?

Hackney, where the Night Tales bar had undergone a hypnotic transformation into a festival-themed beach club. The trendy, usually

26

AVENTUM WORLD | WINTER 2023

industrial-style hangout, had been completely Aventumised.

TAKING TO THE STAGE David’s speech kicked off the night with a bang, celebrating not just the growth of our company but also a warm welcome to new additions to our ever-expanding family. It was a true testament to how far we have come and the exciting future that lies ahead.

GETTING THE PARTY STARTED The night was a feast for the senses and that included our taste buds too. Outside, we indulged

in delicious treats from food trucks that added another layer of fun and flavour to the evening.

Karaoke booth antics, UV tattoo artistry and racing car simulator games had us entertained throughout the night. Of course, no event is complete without capturing the moment and the photo booth served as a perfect backdrop for snaps of joy and memory-making. Did you try the flashing glasses?

WORK HARD, PLAY HARDER As the night went on, the venue itself seemed to absorb the essence of Aventum, our energy oozing from every corner. The atmosphere was electric and our UK based team embodied the spirit of our vibrant and diverse company culture.

Amplify was, without a doubt, a brilliant night that will be high on the list of ‘Work Events’ for years to come. It wasn’t a work party as usual; it was a true celebration of our achievements, our unity and our commitment to making a positive impact.

AVENTUM WORLD | WINTER 2023

27

EVENTUM

Music, Magic and Memories: A Rokstone Party With a terrace boasting amazing views of London’s rooftops, it was a night filled with excitement, music and unforgettable moments that celebrated the Rokstone journey and the amazing community that supports us.

THE PERFECT VENUE On a warm July afternoon, the doors to Aqua Kyoto swung open and welcomed a steady stream of guests into a Rokstone branded setting. The venue’s modern elegance and superb views of the city provided the perfect backdrop for a night of celebration.

A ROKSTAR LINEUP We promised a Rokstar lineup and the gaggle of guests did not disappoint. The evening kicked off with the mesmerising melodies of The Roaming Nines, an acoustic band whose soulful tunes set the tone for the night. Following their performance, the Stereo Twins took to the stage, captivating everyone with their harmonic violin performance.

28

AVENTUM WORLD | WINTER 2023

Next up, Tony Perry stepped behind the DJ booth, spinning tunes to keep the dance floor alive. Duke, the incredible beatboxers, impressed everyone with their mind-blowing vocal percussion skills. As if that wasn’t enough, Okiem created a symphony of sounds that resonated throughout the venue by combining classical piano with orchestral instruments and synthesisers.

With games including air hockey, a dance machine and a magician, the highlight of the evening was undoubtedly the appearance of the ever-charming Gok Wan as he took over the DJ duties.

GETTING A WORD IN Midway through the evening, David Bearman and James Potter took to the stage - not to perform as a duo but to express their gratitude to the 350 people who attended the event. They shared their heartfelt appreciation for the incredible journey Rokstone has been on and how none of it would have been possible without the continuous support of our cherished community.

AVENTUM WORLD | WINTER 2023

29

EVENTUM

Vibrant Pride Month at Aventum We are proud to celebrate and support the LGBTQIA+ community across Aventum Group and Pride Month 2023 was no exception.

PRIDE PAINT PARTY Kicking off celebrations, our Pride Paint Party was a fun-filled success. Colleagues gathered in the London and Northallerton offices, stepping away from their desks to indulge in an afternoon of artistic expression as Pride-themed masterpieces quickly took shape.

PRIDE QUIZ On 21st June, it was time for the Aventum Pride Quiz, which brought an element of friendly competition and educational exploration. It was great to see everyone’s enthusiasm, as the quiz challenged not only our knowledge but also encouraged conversations and the sharing of personal stories.

AVENTUM PRIDE The 28th of June marked the pinnacle of our Pride Month celebrations at Aventum.

Colleagues congregated in the London and Northallerton offices, dressed in their most vibrant clothing. The joyful atmosphere was heightened by the addition of pizzas, cupcakes and drinks. The best-dressed participant even received a prize!

MENTAL HEALTH NAVIGATORS We recognise the importance of providing support and understanding to individuals who may face challenges related to their identity. At Aventum, we pride ourselves in our inclusive approach and understand that the journey towards self-acceptance can be intricate and unique for everyone. Our Mental Health Navigators serve as beacons of empathy and understanding, ensuring everybody feels heard and supported.

BEYOND PRIDE MONTH Our commitment to providing support and resources for the LGBTQIA+ community extends beyond Pride Month. Pride 2023 served as a reminder that fostering an inclusive workplace means continuous learning and commitment to celebrating diversity.

Thank you to everyone who participated in our Pride Month events. Let’s continue to build a future where diversity is celebrated!

30

AVENTUM WORLD | WINTER 2023

Racing for a Cause In 2023, Aventum Group proudly partnered with the Motor Neurone Disease Association (MNDA), supporting their noble cause through the accomplishments of our Formula 2 driver, Ollie Bearman.

At the beginning of the year, Aventum pledged to donate to MNDA based on Ollie’s racing achievements. For every podium he secured in Sprint and Feature races across race weekends, Aventum committed to giving back: £400 for third place, £1,000 for second place and £2,000 for a first place victory.

As of the end of October, following Ollie’s most recent Feature race win in Monza, Aventum has pledged over £8,000 to MNDA. These contributions aid MNDA’s mission of improving access to care, research and advocacy for those affected by motor neurone disease.

Pretty Muddy Mayhem Back in June, some of the team took part in the Pretty Muddy event, in support of Cancer Research UK - one of our chosen charity partners in 2023.

Pretty Muddy is a 5k obstacle course (muddy, obviously) and truly caters to everyone regardless of their fitness level. The course challenges participants to climb, crawl and slide their way through obstacles, embracing adventure, getting muddy and most importantly contributing to a cause that affects so many lives.

We are proud of the ten team members who took part in the muddy madness in summer 2023. It’s inspiring to see our colleagues come together to make a difference in such a fun way.

We would like to recognise Nourin and Ciara who raised over £2,000 on their Just Giving pages. The rest of the team are highly commended, raising over £50 each and proudly showcasing their commitment to a brilliant cause. Aventum donated an additional £500 in support of a brilliant team.

Once again, we are so proud of all who participated, donated and supported the event.

Together, we are making a difference in the lives of those affected by cancer.

CANCER RESEARCH UK

AVENTUM WORLD | WINTER 2023

31

4th Floor, 34 Lime Street, London, EC3M 7AT T +44 (0) 203 818 8060 E talktous@aventumgroup.com

#AventumFamily