Convex enters Lloyd’s with Syndicate 1984

Expected to start writing business from April 2025

HAMILTON, BERMUDA, 14 February 2025.

Convex Group Limited (“Convex”), the international specialty insurer and reinsurer, today announces that it has received in principle approval to launch Lloyd’s Syndicate 1984, which will commence underwriting in April 2025.

Convex has worked closely with its advisors Gallagher Re and Asta, which has been appointed as the Managing Agent.

Syndicate 1984 will be led by active underwriter, Jacqueline Wiffen, UK CUO for insurance at Convex, and has an initial target to underwrite £150m of gross written premium in 2025. It will underwrite some reinsurance of Convex and selected lines of international business including accident & health, casualty, crisis management, ELA (equine, livestock & aquaculture), energy, marine, political risk and property.

Paul Brand, CEO, Convex Group, said: “Convex is always looking for new opportunities to develop its business both in Bermuda, London and elsewhere. Lloyd’s is a core insurance market and part of Convex management’s DNA. Entering Lloyd’s has always been a distinct possibility, and we feel that now is the right time to enter this fantastic marketplace. I thank our partners for their support during this launch. We look forward to bringing new business to Lloyds’ unique and innovative marketplace and building a leading syndicate together.”

Jacqueline Wiffen, active underwriter, Convex Syndicate 1984, said: “I am excited to have been named active underwriter of the new syndicate. Convex has an amazing track record and I look forward to leading the new syndicate for the benefit of our clients and the wider market.”

Patrick Tiernan, Lloyd’s Chief of Markets, said: “We are very pleased that the Convex team have chosen to bring their underwriting talent and leadership to the Lloyd’s market. We want the best underwriters in the world to be operating deliberately in our market and enjoying the strategic benefits that can be uniquely deployed from Lloyd’s. The Convex executive team have extensive Lloyd’s experience, with long term vision and interests that align well with ours. Syndicate 1984 will be a welcome addition to our underwriting platform.”

Lorraine Harfitt, CEO at Asta, said: “Convex has been one of the biggest insurance success stories in recent years and we are delighted to support Stephen, Paul and his team in securing in-principle approval for Syndicate 1984. By combining Asta’s strengths as a managing agent with our collective commitment to innovation and best practice, our partnership aims to extend Convex’s proven underwriting track record to the Lloyd’s market.”

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About Convex Group

Convex Group is an international specialty insurer and reinsurer focused on complex specialty risks across a diverse range of business lines. The company brings together best in class talent, a diversity of thought and the freedom and independence of a strong balance sheet to create a fresh approach to business.
The Group’s ambition is to offer something different to its clients and to engage with them in a true partnership based on fairness, dignity and respect.
Convex was founded by Stephen Catlin and Paul Brand and operates out of London, Bermuda, Luxembourg and New Jersey. The company has an “A“ (Excellent) A.M. Best rating and an “A-“ with positive outlook S&P rating.

www.convexin.com

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