Aventum now 100% owned by all employees as GWP hits $1.9bn

International insurance and reinsurance group Aventum has revealed that during this year its gross written premium (GWP) has reached a significant $1.86 billion, as the company confirms that it is now entirely owned by all of its employees as it works to “create a unique winning culture.”

The $1.86bn GWP milestone represents a three-fold increase from $600 million in 2020, as the firm highlights “extraordinary, exponential, growth over the last decade.”

Today, Aventum has also announced a new global employee ownership scheme, with the independent, owner-managed re/insurance Group now 100% owned by all of its employees.

“We are a business that values purpose over profit, and well-being alongside performance. After all, a strong culture where each person is not simply a cog in a wheel but an essential component of success will ultimately guarantee our position as a leading international insurance group. Talent and hard graft should be rewarded. We believe in ownership for all, not just the privileged few, so when we say we are staff owned, we mean ALL staff,” said David Bearman, CEO of Aventum.

Aventum states that its new employee ownership scheme is a signal that the carrier’s future is more than just as an independent firm, but as a team “that values every voice, and ensures every member is an essential collaborator on a shared mission to do things better”.

Under the scheme, explains the firm, all employees have been rewarded with the equivalent of double their annual salary in share value, which will also be awarded to new starters as they join Aventum.

“I’ve always said that in building Aventum we are creating a lasting legacy; this announcement today takes us another step towards that goal. Our independence, employee ownership and inimitable culture are key differentiators for us in attracting the best, entrepreneurial talent in the market, and therefore also key differentiators for clients and partners seeking superior results.

“We’ve experienced tremendous growth over the past decade. We owe this remarkable achievement to the incredible efforts of our team. Under employee ownership we are committed to building on this momentum and allowing everyone at Aventum to share in the fruits of our collective success rather than lining the pockets of third parties,” said Bearman.

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