Yahoo Finance Aventum Group: Insurance giant founded by future F1 star Oliver Bearman’s dad sticks to the slow lane to become ‘the best’
Aventum Group, the insurance giant founded by the father of future F1 star Oliver Bearman, has almost doubled its revenue and profits, it has been revealed.
According to newly-published accounts with Companies House the London-based group achieved a net revenue of £112.2m in the year to June 30, 2023, up from the £61.7m it achieved in the prior 12 months.
The group also posted a pre-tax profit of £19.6m for the year, up from £10.1m.
Aventum Group’s companies include Consilium, Rokstone and Mulberry Risk and is run by chief executive and founder David Bearman, the father of Oliver Bearman who is set to enter F1 next season.
Aventum Group ‘ready for the next exiting phase’
A statement signed off by the board said: “The results are even more impressive when you factor in that this has been achieved without any M&A and raising of debt and unlike most of our peer group is purely organic.
“This strategy, whist not the fastest way of achieving revenue growth, has ensured we have built a robust organisation that is now ready for the next exciting phase of our journey.”
Aventum Group added: “When we brought together the constituent parts of Aventum Group in 2021, the aim was to create the best specialty (re)insurance platform, a forever home to the industry’s best talent and a place where they could come and express themselves undistracted by the constant mergers and acquisition strategy and the pursuit of revenue over culture that is being played out amongst our competitors.
“A place there they are the strategy and not simply another employee number.
“We are pleased to say that as a private, debt free and owner managed business, our vision of being the best is now a reality and we are the destination of choice for employees and customers alike”.
