4 October 2019Insurance

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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More on this story

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9 September 2019   Convex, Stephen Catlin’s new venture has now recruited 90 people including 20 product leaders and is opportunistically writing business—but it plans to really hit the ground running from the start of 2020, Catlin told Monte Carlo Today.
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3 September 2019   Stephen Catlin and Paul Brand's newly launched specialty re/insurer Convex Group has partnered with Clearwater as a provider of cloud-based solution and services for investment accounting, reporting and other data services.