Log In

Reset Password

Convex opens new European insurer

Bermuda-based Convex Group Limited has received authorisation for its newly established Luxembourg-based European insurance entity, Convex Europe SA.

The commercial re/insurer said it has worked closely with the Luxembourg regulator, the Commissariat aux Assurances, and received regulatory approval on September 15.

Following the authorisation, S&P Global Ratings issued CES an A- rating.

The company said this development provides Convex with a fully regulated insurance subsidiary within the European Economic Area, ensuring clients across Europe will be able to receive the best possible service and insurance solutions directly from Convex.

It said CES will write European business via a United Kingdom branch that will be located in London.

This branch remains subject to regulatory approval from the Prudential Regulation Authority and Financial Conduct Authority.

Convex said it will notify the market as soon as it commences trading.

In addition, the company said S&P has issued an A- rating for Convex Guernsey Ltd, the new home of Convex’s Security Risk team.

Paul Brand, Deputy CEO, 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.”

Convex Group is an international specialty insurer and reinsurer focused on complex specialty risks across a diverse range of business lines.

Convex was founded by Stephen Catlin and Mr Brand in 2019 and operates out of London and Bermuda. The company has an “A-“ (Excellent) A.M. Best rating and an “A-“ with stable outlook S&P rating.

Convex founders Stephen Catlin, left, and Paul Brand (File photograph)

You must be Registered or to post comment or to vote.

Published September 21, 2021 at 7:44 am (Updated September 21, 2021 at 7:44 am)

Convex opens new European insurer

What you
Need to
1. For a smooth experience with our commenting system we recommend that you use Internet Explorer 10 or higher, Firefox or Chrome Browsers. Additionally please clear both your browser's cache and cookies - How do I clear my cache and cookies?
2. Please respect the use of this community forum and its users.
3. Any poster that insults, threatens or verbally abuses another member, uses defamatory language, or deliberately disrupts discussions will be banned.
4. Users who violate the Terms of Service or any commenting rules will be banned.
5. Please stay on topic. "Trolling" to incite emotional responses and disrupt conversations will be deleted.
6. To understand further what is and isn't allowed and the actions we may take, please read our Terms of Service
7. To report breaches of the Terms of Service use the flag icon