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Capital Raise Timeline
Capital Raise Timeline
Explore the key moments in our history
From significant investments and company milestones to the growth of our team over the years.
Examine pivotal moments in our history
Highlights
2019
April
Convex Group (Convex) launches in April 2019 with $1.6bn of initial committed capital.
May
AM Best gives Convex Group entities financial strength rating of A- (Excellent), outlook Stable
August
Convex raised an additional $96m in capital.
Nov
AM Best gives Convex Group entities financial strength rating of A- (Excellent).
Dec
S&P gives Convex Group entities financial strength rating of A-, outlook stable.
96 employees.
Highlights
2020
May 2020
Convex reports 2019 GWP of $0.1bn
Nov 2020
Convex secures commitments for an additional $1bn of equity capital.
Dec 2020
Convex secures a $500m structured equity facility constituting Tier 1 capital in Bermuda.
Dec 2020
247 employees
Highlights
2021
Jan 2021
Convex now has more than 300 employees across Bermuda, London and worldwide.
April 2021
AM Best gives Convex Group entities financial strength rating of A- (Excellent), outlook Positive
May 2021
Convex reports 2020 GWP of $1.1bn
Sep 2021
S&P give Convex Europe S.A. & Convex Guernsey financial strength rating of A-, outlook Stable
Sep 2021
Convex Group Limited announces the authorisation of its newly established Luxembourg based European insurance entity, Convex Europe SA (CES).
Oct 2021
AM Best gived Convex Europe S.A. & Convex Guernsey financial strength rating of A- (Excellent), outlook Positive
Dec 2021
363 employees
Highlights
2022
May 2022
Convex reports 2021 GWP of $2.1bn
Jul 2022
Convex US launches as a managing general underwriter (MGU) focusing on the US Excess & Surplus market
Dec 2022
450 employees
Highlights
2023
May 2023
Convex reports 2022 GWP of $3.0bn
May 2023
AM Best upgrades Convex Group entities to A (Excellent), outlook Stable
Dec 2023
504 employees
Highlights
2024
May 2024
Convex reports 2023 GWP of $4.2bn
Jun 2024
Convex Group S&P outlook revised to Positive
Dec 2024
532 employees
Highlights
2025
Apr 2025
Convex enters Lloyd’s and begins underwriting with Syndicate 1984Apr 2025 Convex enters Lloyd’s and begins underwriting with Syndicate 1984
May 2025
Convex reports 2024 GWP of $5.2bn
Jun 2025
S&P upgrades Convex Group entitiesto A, outlook Stable AM Best affirms Convex Group entities rating’s as A (Excellent), outlook Stable
Oct 2025
Convex announces new long term ownership structure, Onex Corporation reinvests as majority shareholder, AIG welcomed as a new strategic investor. The new investment values Convex at $7.0bn.
Transactions subject to customary regulatory approvals. Closing expected first half of 2026
Highlights
2026
Feb 2026
Convex’s new ownership structure receives regulatory approval, with Onex taking a 63% equity stake and AIG a 35% equity stake.
Mar 2026
Stephen Catlin steps down as Convex Group Chairman. Onex CEO, Bobby Le Blanc, becomes the new Chairman. Stephen takes honorary title of Founder and Life President.