Stephen Catlin and Paul Brand Unveil Convex Group

Stephen Catlin and Paul Brand recently unveiled their international specialty insurer and reinsurer, Convex Group Limited (Convex). Launched with $1.8 billion of initial committed capital, Convex will draw down $1.6 billion to commence business, with access to further capital as the business expands. The company has received an A.M. Best rating of A- (Excellent) and regulatory approval to operate in London and Bermuda.

Headquartered in Bermuda with an office in London, the company will write insurance and reinsurance with a focus on underwriting complex specialty risks across a diversified range of business lines.

The management team is comprised as follows.

• Stephen Catlin—Chairman and CEO
• Paul Brand—Deputy CEO
• Benjamin Meuli—Chief Financial Officer
• Robina Malik—General Counsel
• Adrian Spieler—Chief Operating Officer
• Doug Howat—Chief Underwriting Officer Insurance
• Matt Paskin—Chief Underwriting Officer Reinsurance
• Mark van Zanden—Head of Portfolio Optimization

Stephen Catlin said, "The launch of Convex distills vast industry experience and client focus to create the insurance company of the future. We begin unencumbered by legacy but rich with expertise and the strength of independence. There is evidence of pricing momentum in many classes, and we are well equipped to prosper in a challenging market."

The business will focus on underwriting areas where they have a competitive advantage and aim to deliver top-quartile, risk-adjusted returns.

Furthermore, Convex will adopt a conservative investment strategy with a predominantly high-grade fixed income portfolio and a duration matched to the profile of the liabilities.

Paul Brand commented, "There is demand for an insurer to bring a refreshed and enhanced offering to market, one that puts fairness and honesty at the center of its singularly client-focused proposition. Convex will challenge the status quo to create value across the chain and provide a differentiated service in a personal way."