Convex Group Limited, the international specialty insurer and reinsurer, has announced that Stephen Catlin will step down from his role as Chairman of the Board, but will remain a director.
Catlin has been given the honorary title of Founder and Life President, where he will continue to provide strategic counsel to the Board and mentor the executive leadership team, as well as serve as an ambassador for the company’s global initiatives and steward its long-term mission and values.
He will also remain actively involved in philanthropic and industry partnerships that reflect Convex’s values.
In April 2019, Catlin co-founded Convex Group Limited and served as CEO until June 2022, when he became Executive Chairman.
Bobby Le Blanc, a Director of the Board of Convex since its formation in 2019 and CEO of majority shareholder Onex, has been appointed Chairman.
Paul Brand, CEO of Convex, said, “Stephen’s contribution to the success of Convex and to the insurance industry is immeasurable. He has been a colleague, mentor and friend for nearly 40 years. He has built two globally renowned insurance businesses and has been integral to securing Convex’s long-term independent future following our re-capitalisation by Onex and AIG. I could say we will miss him, but he will stay very involved with our business. He will also continue to lead our involvement with the Convex Seascape Survey and several other sustainability initiatives.”
Catlin added, “I am immensely proud of our achievements at Convex over the past seven years. To have built another global carrier in a quarter of the time it took to build the first is no small feat. However, Convex would not exist without the incredible team around me or our market partners. I look forward to continuing to help grow the business whilst providing support to the next generation of leadership as we continue to redefine what insurance can become in an ever-changing world.”
Le Blanc said, “I am incredibly honoured to be asked to become the Chairman of Convex. I look forward to Stephen’s continued wise counsel, mentorship and friendship; he is a leading voice in the industry and has helped lead Convex on an exceptional journey since its creation. He is an insurance legend, and I am delighted that he has agreed to remain on the board. He has helped create significant value for both Convex and Onex and shareholders and will continue to help develop our market leadership position.
