Reinsurance News
Convex Re
S&P upgrades Convex Group entities credit ratings, assigns stable outlook
26th June 2025
S&P Global Ratings has raised the financial strength ratings on re/insurer Convex group's operating companies to 'A' from 'A-', and assigned a stable outlook. The companies include: Convex Re Ltd., Convex Insurance UK Ltd., Convex Guernsey Ltd., and Convex Europe S.A. Convex has shown significant growth since launching in late 2019, ... Read the full article
Convex ‘looking forward’ to bringing new business to Lloyd’s with Syndicate 1984
14th February 2025
Convex Group, the international specialty insurance and reinsurance company, has announced its entry into the Lloyd's marketplace after the receipt of in principle approval to launch Syndicate 1984, expected to begin underwriting in April 2025. The new Lloyd's Syndicate, which will underwrite some reinsurance of Convex as well as selected lines ... Read the full article
S&P revises Convex Re outlook to positive
19th June 2024
S&P Global Ratings revised Convex Re’s outlook to positive from stable, anticipating continued broad expansion aligned with its business plans, maintaining a combined ratio of approximately 90% over the next two years, and remaining well capitalised with capital exceeding S&P’s 99.99% benchmark. This revised outlook extends to Convex group’s operating subsidiaries: ... Read the full article
Convex achieves net profit as FY’23 combined ratio strengthens to 89.6%
18th April 2024
Convex Group, the international specialty insurer and reinsurer, has reported its first annual net profit since inception, announcing 2023 net income of $503.2 million, a significant improvement on the $142.2 million loss seen in 2022. The 2023 net income figure includes the establishment of a deferred tax asset of $67.7 million ... Read the full article
Convex reports loss for 2022 as negative investment return offsets underwriting profit
16th May 2023
Global specialty insurer and reinsurer, Convex Group Limited, has reported an underwriting profit for the full-year 2022 with a significantly improved combined ratio, although a negative investment return pushed the firm to a net loss of $142 million for the year. While still a loss, at $142 million, it has come ... Read the full article
Convex Re Bermuda appoints Simons as deputy CEO, promotes Slater to CUO
1st December 2022
Specialty insurer and reinsurer Convex has appointed Paul Simons as deputy chief executive officer and has promoted Richard Slater to chief underwriting officer, subject to regulatory approval, at Convex Re. The firm said in a statement that both men will begin their roles this month and will be based in Bermuda. ... Read the full article
Convex appoints Richard P. Quinn US Property Reinsurance Underwriter
1st September 2022
Specialty insurance and reinsurance company, Convex Insurance has appointed Richard P. Quinn as US Property Reinsurance Underwriter, a Bermuda-based role. Prior to joining Convex, he spent over four years at Axis Capital. During his tenure at the Bermuda-based company, he held the Catastrophe Modelling Analyst position for over two years before ... Read the full article
Paul Brand takes over as CEO of Convex
30th June 2022
Paul Brand, who founded specialty insurer and reinsurer Convex Group Limited in 2019 with Stephen Catlin, has been named Group Chief Executive Officer (CEO) of the company, effective July 1st, 2022. Since the firm was created Brand has served as Deputy CEO, with Catlin serving as both Group CEO and Executive ... Read the full article
Convex reports 93% rise in GWP as net loss narrows in 2021
19th May 2022
Specialty insurer and reinsurer Convex has reported a rise in gross written premium (GWP) for the full-year 2021 to more than $2.1 billion, as the Group announces a reduced net loss of $158 million for the period. For 2021, the re/insurer's net loss shrank by almost 12% from the $179 million ... Read the full article
Convex able to write reinsurance business in the US from January 1
30th November 2021
The operating subsidiaries of insurer and reinsurer Convex Group Limited have received approval from the National Association of Insurance Commissioners (NAIC) and the California Department of Insurance to operate as a reciprocal jurisdiction reinsurer. By obtaining reciprocal jurisdiction status, both Convex Insurance UK Limited (CIL) and Convex Reinsurance Limited (CRL) are ... Read the full article
Convex establishes European subsidiary, A- rating secured from S&P
20th September 2021
Convex Group has authorised its new Luxembourg-based European insurance entity Convex Europe SA (CES), securing an A- rating from S&P Global. Convex is described as having worked closely with the Luxembourg regulator the Commissariat aux Assurances (CAA) in order to secure regulatory approval on 15 September. This development leaves Convex with a ... Read the full article
Insurtech Artificial joins Convex on data-driven marine liability product
22nd March 2021
Insurtech firm Artificial Labs is collaborating with Convex to digitise and distribute the speciality re/insurer’s data-driven marine liability product. The partnership sees US-based marine liability brokers provided with a rate/quote/bind/issue tool designed to improve client experience and give access to new, specific classes of business. The product is reported to give brokers ... 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
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
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