Sciemus, the satellites-to-cyber risk modelling and MGA firm, has taken its inspiration from the fourteenth century English philosopher William of Occam as it rebrands to Occam Underwriting.

The London-headquartered firm said today it was “undertaking a series of changes” starting with the rebrand.

It also confirmed that co-CEO Rick Welsh - who joined the firm in 2015 - will step down to “pursue other activities”.

Lance Gibbins, chairman and acting co-CEO of Sciemus, will now become chairman and CEO of the company with immediate effect.

Occam said that Dan Carr will continue to lead its cyber division with Phil Duffin continuing as head of space - Occam’s oldest business line - and Ian Green as head of the recently relaunched power business.

Initially set up in 2006 with support from the UK Ministry of Defence research arm QinetiQ, Sciemus has undergone a number of changes in the past decade including the departure of co-founding CEO Andre Finn in 2016 and the evolution of business lines into new classes such as cyber.

William of Occam - or Ockham - devised the principle known as Occam’s razor which rules that the most obvious and straightforward solution is normally the best one.

According to the rebranded firm, it shows its commitment to bringing “clear thinking, innovation and data and analytics to complex insurance problems in cyber, space, energy and other lines”.