Global specialty (re)insurance broker Consilium has secured a broking licence from the Monetary Authority of Singapore (MAS), strengthening its ability to serve clients across the Asia-Pacific region. The company has also appointed Ben Compton as Associate Partner in its Cedent Facultative Risk Solutions team in Singapore. (Insurance Asia News)
The MAS approval provides Consilium with a formal regulated platform for its Singapore operations and supports the broker’s broader expansion strategy in Asia-Pacific. The company had announced its Singapore presence earlier, and the licence now enables the business to develop its facultative reinsurance capabilities from one of the region’s major insurance hubs. (Insurance Business)
Compton joins Consilium from Marsh, where he most recently served as Vice President for property, political violence and terrorism placement. He has more than a decade of insurance market experience and has also worked in carrier management and insurer relationship roles at JLT Group. (Insurance Asia News)
In his new role, Compton will work alongside Robert Drysdale, who leads Consilium’s Singapore office. The appointment is expected to strengthen the firm’s expertise in facultative reinsurance and support the development of solutions across property and other specialist risks in the region. (Insurance Asia News)
Consilium said Singapore will play an important role in its growth strategy across Asia-Pacific. The combination of regulatory approval and additional senior broking expertise is intended to help the company broaden its regional client base and increase access to specialist facultative reinsurance capacity. (LinkedIn)
The development also reflects increasing competition among international brokers seeking to strengthen their presence in Singapore, which continues to serve as a key centre for specialty insurance and reinsurance business across Asia-Pacific.
