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Colsell, 40, formerly at Zurich Financial Services, where he held a number of senior executive positions, including finance director of its UK and International Life division, will also join the board of Kensington.
His other previous roles include stints at Allied Dunbar and Eagle Star.
Commenting on his appointment, Peter Birch, chairman of Kensington, said: ‘We are delighted that Steve is joining the board as group FD. His extensive experience of working within regulated, specialist financial markets and dealing with multiple distribution channels will prove particularly valuable to Kensington as it continues to grow.’
Steve Colsell added: ‘I am very excited about joining Kensington. The business is a leader in its attractive specialist market and is expanding rapidly. I very much look forward to contributing to its future development.’
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