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Convex Group Ltd. on Friday named Matt Paskin CEO of Bermuda-based Convex Re Ltd. and Theo Butt CEO of London-based Convex Insurance UK Ltd.
Both positions were previously held by co-founder and group deputy CEO Paul Brand.
Mr. Brand remains on the board of directors of Convex, as well as its Bermuda and U.K.-based operations, Convex said.
Mr. Paskin has served as group chief underwriting officer reinsurance since Convex launched in May 2019 and will retain this role in addition to his new responsibilities, Convex said.
Mr. Butt joined Convex in April 2020 as a consultant and prior to that was CEO of Neon Underwriting Ltd.
Convex was set up by Stephen Catlin, founder of Catlin Group Ltd., and Mr. Brand, previously Catlin’s chief underwriting officer in 2019 with $1.8 billion of capital, backed by Canadian private equity firm Onex Corp.
Operating entities of the Convex Group, which was formed by former Catlin Group Ltd. executives, have received “A-’’ financial strength ratings from Standard & Poor’s Global Ratings Inc., the rating agency said Wednesday.