Industry veterans Catlin and Brand launch Convex Europe
Stephen Catlin (pictured left) and Paul Brand's (pictured right) specialty re/insurer Convex Group has established a new European insurance entity in Luxembourg.
Convex Europe SA (CES) has received approval from Luxembourg regulator, the Commissariat aux Assurances (CAA) on September 15, 2021. Following the authorisation, S&P Global Ratings has issued CES an A- rating.
The move provides Convex with a fully regulated insurance subsidiary within the European Economic Area (EEA), enabling its clients across Europe to receive service and insurance solutions directly from Convex.
CES will write European business via a UK branch that will be located in London. This branch remains subject to regulatory approval from the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA).
Additionally, S&P has issued an A- rating for Convex Guernsey, the new home of Convex’s Security Risk team.
Brand, deputy CEO of Convex, said: “This is an important step in our ability to provide our partners, colleagues and ultimately our clients in the EEA with certainty and become the insurer of choice for complex risks. Through CES, Convex will establish a long-term presence in Europe, and via its UK Branch, CES will have the ability to provide European and multinational clients with full service, high-quality insurance risk solutions.”
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