Catlin Group founder launches global specialty reinsurer Convex Group
Convex Group will be led by a number of senior insurance professionals formerly of Catlin Group.
Two major players in the insurance world, Stephen Catlin and Paul Brand, have launched their new project, global specialty reinsurance provider Convex Group.
With $1.8 billion of initial committed capital, Convex Group will underwrite insurance and reinsurance for complex specialty risks from hubs in Bermuda and London. Convex Group representatives said the group will adopt a “conservative investment strategy with a predominantly high-grade fixed income portfolio, and duration matched to the profile of the liabilities.”
As co-founders, Catlin will serve as Convex’s chairman and chief executive officer and Brand will serve as deputy chief executive officer.
“The launch of Convex distills vast industry experience and client focus to create the insurance company of the future,” Catlin said in a statement. “We begin unencumbered by legacy but rich with expertise and the strength of independence. There is evidence of pricing momentum in many classes and we are well equipped to prosper in a challenging market.”
Convex’s senior management team is comprised of all former Catlin Group and XL Catlin leaders who each have at least 30 years of experience in the field. They are:
- Benjamin Meuli, chief financial officer;
- Robina Malik, general counsel;
- Adrian Spieler, chief operating officer;
- Doug Howat, chief underwriting officer;
- Matt Paskin, chief underwriting officer for reinsurance;
- and Mark van Zanden, head of portfolio optimization.