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Convex Group said Thursday that its United Kingdom-based insurer, Convex Insurance UK Ltd., has been added to the National Association of Insurance Commissioners’ quarterly listing of alien insurers as of Tuesday.
This means Convex will be able to write U.S. excess and surplus lines across the United States, the company said in its statement.
Stephen Catlin, founder of Catlin Group Ltd., and Paul Brand, previously Catlin’s chief underwriting officer, announced they had set up London- and Bermuda-based insurer and reinsurer Convex in April with $1.8 billion of capital, backed by Canadian private equity firm Onex Corp.
(Reuters) — Two former senior executives of Lloyd’s of London insurer Catlin Group Ltd. have launched a new insurance firm with $1.8 billion of capital, backed by Canadian private equity firm Onex Corp.