Convex ‘looking forward’ to bringing new business to Lloyd’s with Syndicate 1984

Convex Group, the international specialty insurance and reinsurance company, has announced its entry into the Lloyd’s marketplace after the receipt of in principle approval to launch Syndicate 1984, expected to begin underwriting in April 2025.

The new Lloyd’s Syndicate, which will underwrite some reinsurance of Convex as well as selected lines of international business, has an initial target to underwrite gross written premium of £150 million in 2025.

Syndicate 1984 will be led by Jacqueline Wiffen, UK Chief Underwriting Officer for insurance at Convex, as active underwriter.

The selected lines of international business the syndicate will look to write includes accident & health, casualty, crisis management, ELA (equine, livestock & aquaculture), energy, marine, political risk, and property.

Convex confirms that it worked closely with advisors, reinsurance broker Gallagher Re and Asta, the new syndicate’s Managing Agent.

“Convex is always looking for new opportunities to develop its business both in Bermuda, London and elsewhere. Lloyd’s is a core insurance market and part of Convex management’s DNA,” said Paul Brand, Chief Executive Officer (CEO), Convex Group. “Entering Lloyd’s has always been a distinct possibility, and we feel that now is the right time to enter this fantastic marketplace. I thank our partners for their support during this launch. We look forward to bringing new business to Lloyds’ unique and innovative marketplace and building a leading syndicate together.”

Wiffen added: “I am excited to have been named active underwriter of the new syndicate. Convex has an amazing track record and I look forward to leading the new syndicate for the benefit of our clients and the wider market.”

Patrick Tiernan, Chief of Markets at the specialist Lloyd’s insurance and reinsurance marketplace, said: “We are very pleased that the Convex team have chosen to bring their underwriting talent and leadership to the Lloyd’s market. We want the best underwriters in the world to be operating deliberately in our market and enjoying the strategic benefits that can be uniquely deployed from Lloyd’s. The Convex executive team have extensive Lloyd’s experience, with long term vision and interests that align well with ours. Syndicate 1984 will be a welcome addition to our underwriting platform.”

“Convex has been one of the biggest insurance success stories in recent years and we are delighted to support Stephen, Paul and his team in securing in-principle approval for Syndicate 1984. By combining Asta’s strengths as a managing agent with our collective commitment to innovation and best practice, our partnership aims to extend Convex’s proven underwriting track record to the Lloyd’s market,” added Lorraine Harfitt, CEO at Asta.

This website states: The content on this site is sourced from the internet. If there is any infringement, please contact us and we will handle it promptly.