Reinsurance News
Convex Group
Convex partners with Praedicat on emerging liability risks
3rd February 2021
International specialty re/insurer Convex Group Limited has partnered with Praedicat, a risk analytics company specialising in emerging liability risks, to help identify, underwriting and manage complex casualty risks. Praedicat’s AI technology mines global peer-reviewed scientific literature to identify hazards with the potential to develop into drivers of mass tort litigation before ... Read the full article
Convex secures further $500mn, bringing total raised to $3.2bn
14th January 2021
International speciality re/insurer Convex has secured $500 million in committed preferred equity capital from affiliates of global investment firm Sixth Street. The company wrapped up 2020 with the raising of $1 billion, a move which brought the total amount raised in the 18 months since its launch to $2.7 billion. It was ... Read the full article
It’s on the market to fix coverage & contract interpretation issues: Kitson, Convex Re
27th November 2020
The pandemic has shone a light on the broadening of terms and conditions (T&Cs) and increased ambiguity of policy wordings that occurred throughout the soft market, and with litigation expected to persist, it's on the re/insurance market to fix the issue, said Heather Kitson, Deputy Chief Executive Officer (CEO) at ... Read the full article
Singaporean wealth fund GIC among latest Convex investors
18th November 2020
Singaporean sovereign wealth fund GIC has joined existing investor Onex Corporation in helping specialty re/insurer Convex Group raise an additional $1 billion in funding. Convex’s initial invested capital of $1.7 billion was raised from the Convex management team, Onex Partners V, PSP Investments and other co-investors. The latest funding drive ... Read the full article
Convex secures additional $1bn of committed capital
17th November 2020
International speciality insurer and reinsurer Convex has secured commitments for an additional $1 billion of equity capital. Convex has now raised $2.7 billion in the 18 months since its launch. Initial capital was raised from the Convex management team, Onex Partners V, Onex Corporation’s large-cap private equity fund, and a consortium of ... Read the full article
AccuRisk partners with Convex to offer Employers Liability insurance
26th October 2020
AccuRisk Solutions LLC, has announced a partnership with Convex Group Limited (Convex) to offer Occupational Accident and Employer’s Liability insurance to Texas employers that have opted out of Workers’ Compensation. The product, named AccuRisk254, will be available in all Texas counties, as this partnership will allow AccuRisk to increase their market ... Read the full article
Convex names Paskin & Butt as CEO’s of core underwriting subsidiaries
18th September 2020
International speciality insurer and reinsurer, Convex Group Limited, has announced the appointment of Matt Paskin as Chief Executive Officer (CEO) of Convex Re Limited (Bermuda) and Theo Butt as CEO of Convex Insurance UK Limited (London). Both of these roles were previously held by Convex Co-Founder and Group Deputy CEO, Paul ... Read the full article
Convex will take time to reach profitability, says S&P
12th December 2019
Analysts at S&P expect Bermuda-based insurer and reinsurer Convex Group to build up scale over the next 24 months and feel that the "greenfield" insurer is unlikely to be profitable until it has expanded its premium base. Launched by Stephen Catlin and Paul Brand earlier in 2019, Convex Group is ... Read the full article
Advanced tech, no legacy puts Convex in solid position: Catlin, Brand
1st November 2019
Convex, the specialty insurer and reinsurer launched earlier this year by Stephen Catlin and Paul Brand, feels that the rise of technology, combined with the fact it doesn’t have legacy issues puts it in a great position moving forward. Reinsurance News recently met with co-founders of Convex, Catlin and Brand, to ... Read the full article
2019 is the year of building the toolkit: Catlin, Brand, Convex
11th October 2019
Specialty insurer and reinsurer Convex continues to build its toolkit and lay strong foundations in a changing reinsurance market landscape, explains Stephen Catlin and Paul Brand. In an interview with Reinsurance News, Convex co-founders Catlin and Brand, discussed the thinking behind the launch of the international specialty re/insurer, the story so ... Read the full article
Convex authorised to write excess and surplus lines in US
3rd October 2019
Convex Group, the international specialty re/insurer set up by Stephan Catlin, is set to begin writing US excess and surplus lines across the United States. This follows the addition of Convex’s UK insurance company to the National Association of Insurance Commissioners’ (NAIC) Quarterly Listing of Alien Insurers, with effect from October ... Read the full article
Convex signs up Clearwater for investment accounting & reporting
3rd September 2019
Convex Group, the international specialty insurance and reinsurance firm established by Stephan Catlin and Paul Brand, has signed up Clearwater as a provider of investment accounting, reporting and related data services. Convex, which launched with $1.8 billion of initial committed capital of which $1.6 billion is currently drawn, has chosen ... Read the full article
Convex and WNS look to redefine the re/insurance market
22nd July 2019
The previously announced strategic partnership between Convex Group Limited and WNS Holdings Ltd. sees the pair collaborate in an effort to "redefine the insurance market" and move away from legacy systems and processes. A long-term strategic partnership between Convex and WNS was announced at the start of July. Under the ... Read the full article
Convex a “tremendous endorsement” for Bermuda: BDA CEO Burrows
19th July 2019
The successful launch of Stephen Catlin's international specialty re/insurer Convex is a great example of the opportunities on offer in Bermuda, says Andy Burrows, Chief Executive Officer of the Bermuda Business Development Agency (BDA). In a recent conversation with Reinsurance News, Burrows described Convex’s launch as a “great testament to the ... Read the full article
Convex partners with Cytora on AI-powered commercial underwriting
15th July 2019
Convex Group Limited, the international specialty re/insurer set up by Stephan Catlin, has partnered with insurtech firm Cytora to develop artificial intelligence (AI) powered solutions for commercial insurance. Using Cytora’s AI-driven platform, Convex hopes to enhance its commercial underwriting process, using data to achieve a more accurate view of risk ... Read the full article
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