Bermudian-based Convex Group has launched Kinetic Insurance Services, a UK-based managing general agency.

Kinetic, a wholly owned subsidiary of Convex, will be led by Theo Butt, former chief executive officer of Convex Insurance UK.

Convex, an international specialty insurer and reinsurer, described Kinetic as “technology-enabled” and said the MGA would start trading in the fourth quarter of 2026. The MGA has received regulatory approval from the UK’s Financial Conduct Authority.

Anne Middleton has taken over as CEO of Convex UK.

Kinetic will target specialty and niche lines of business complementary to Convex's existing portfolio, Convex said.

“Backed by Convex and third-party capacity, the platform will leverage technology and underwriting excellence to deliver tailored solutions and exceptional customer service to its clients and brokers,” the company added.

Paul Brand, CEO of Convex Group, said: “Convex is always looking for new opportunities to develop its business both in Bermuda, London and elsewhere.

“The MGA structure offers flexibility to capital providers reinsurers and business partners. Using our capability for writing delegated business we believe that this business will become a major part of Convex’s future growth.”

Mr Butt said: “We have strong conviction in Kinetic’s long-term growth potential and the meaningful value it will generate for the organisation.”