One to Watch: Convex Group
When it comes to big fish in a big pond, Stephen Catlin is a killer whale making waves with his new insurance venture.
Catlin, former founder of the insurance and reinsurance firm, Catlin Group, is making his big comeback with the launch of his latest insurance startup, the Convex Group. The new company launches with an initial capital commitment of $1.8bn from a consortium of investors.
Having founded the Catlin Group, before selling to XL and becoming their Executive Deputy Chairman, Catlin has a wealth of experience that he will call upon to direct his new venture. Catlin is joined by several former Executive underwriting colleagues too: Paul Brand, Benjamin Meuli and Adrian Spieler are all attached to the new firm already. The operations established in Bermuda (Convex Group Limited and Convex Re Limited) and London (Convex UK Limited) will be the firm’s initial market-focus, but it is likely that expansion will be fast and ambitious. Both of the Group’s subsidiaries, Convex Re and Convex UK, have now received A-financial strength ratings and long-term issuer credit ratings from A.M. Best, and it is likely that Catlin will capitalise on this to spur on his growth plans.
The firm’s UK branch, based on St. Katharines Way, London, will be headed up by Paul Brand in his role as Director, Deputy Chief Executive, and Co-Founder. Previously, Brand had been at Caitlin (XL) for over 30 years where he was Chief Underwriting Officer. His London-based team is made up of a number of experienced Underwriters with across a range of speciality insurance and reinsurance lines.
With Convex Group now officially launched, we are expecting to see a dramatic increase in the firm’s hiring activity, both in Bermuda and here in the UK. Be the first to get news on Convex, and their insurance industry competition, by signing up to Talent Ticker today. Put yourself on the frontfoot by adding Insurance as a saved search to receive email updates and make sure you don’t miss a move.
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