Convex Financial Condition Report 2019

This Financial Condition Report (“FCR”) is based on the Insurance (Public Disclosure) Rules 2015 which came into effect on January 1, 2016. These rules specify the requirement for commercial insurers to prepare an FCR and requires that it be made publicly available on the insurer’s website. This report provides a discussion on the Company’s business and performance (section A), governance structure (section B), risk profile (section C), solvency valuation (section D), capital management (section E) and subsequent events (section F). 

This report is primarily based on the Company’s Economic Balance Sheet (“EBS”) as at December 31, 2019. In addition, certain sections include information based on the Company’s consolidated financial statements for the period since the Company’s incorporation on October 24, 2018 to December 31, 2019 which have been prepared in accordance with the accounting principles generally accepted in the United States (U.S. GAAP) and include the accounts of the Company and its subsidiaries.