Convex to write excess and surplus lines in US

Specialty re/insurer Convex Group has been authorised to write excess and surplus (E&S) lines across the US.

This follows the addition of Convex Insurance UK to the National Association of Insurance Commissioners' (NAIC) Quarterly Listing of Alien Insurers with effect from October 2019.

NAIC is the US standard-setting and regulatory support organisation created and governed by the chief insurance regulators from the 50 states, the District of Columbia and five US territories.

Convex was launched in April 2019 by insurance veterans Stephen Catlin and Paul Brand, with an initial capital commitment of $1.8 billion. It is based in the UK and Bermuda.

Convex underwrites insurance and reinsurance for complex specialty risks across a diversified range of business lines, and aims to build a digitally-enabled insurance company that is free from legacy systems and processes.

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