Convex Group Ltd

Convex Group is a specialty insurer and reinsurer focused on complex risks with operations in London and Bermuda. It was launched in April 2019.

In October 2019 Convex announced its UK subsidiary, Convex Insurance UK, had been added to the National Association of Insurance Commissioners Quarterly Listing of Alien Insurers, meaning that Convex will be able to write Excess and Surplus lines across the US.

Convex has receive $1.8bn initial capital which comes from the Convex management team, Onex Partners V, Onex Corporation’s (TSX: ONEX) large-cap private equity fund, PSP Investments and a consortium of co-investors.

In January 2021 Convex Group raised $500m in preferred equity capital from global investment firm Sixth Street, bringing Convex's total committed capital to more than $3.2bn.

In February 2021 it was revealed that Convex had licensed products from data analytics insurtech Praedicat to help Convex identify, underwrite and manage complex emerging liability risks.

The company established a fully regulated European subsidiary in September 2021

Convex exceeded $2 billion of consolidated gross written premium in 2021

The company named Co-Founder Paul Brand as Group CEO in July 2022.

In August 2022 Quotech raised $1.2M from angel investors and Convex Group - the latter of which acquiring 7.7%. Quotech says it will use the funds to hire more staff and boost the development of the technology platforms it custom-creates for underwriters and distributors, supporting pricing, administration, claims and trading.

Convex is co-founded and led by Stephen Catlin, the former Founder and CEO of Catlin and Executive Deputy Chairman of XL Catlin, and Paul Brand, the former Chief Underwriting Officer for Catlin and of XL Group.