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Convex news from Insurance Insider US
Paul Simons joined the company last year from Axa XL as deputy CEO of Convex Re.
Dover and Nersessian-Hristova’s appointments mark the first expansion of Convex US since its launch earlier this year.
Richard Quinn becomes the latest to depart from a property cat-related role at Axis Capital.
The unit led by Dan Kumpf will offer miscellaneous professional liability cover.
The status will allow the Stephen Catlin-led business to write US reinsurance without posting reinsurance collateral.
The ratings agency has also affirmed the A- FSR of Convex’s UK and Bermudian entities.
The carrier will be actively targeting excess lines on US-listed placements, where capacity has been shrinking.
The airline has said that it does not expect a total loss to the $200mn policy with the aircraft repairable.
Sources suggest the raise could take the (re)insurer's equity base up to the $3bn it initially targeted.
Competitor news

Competitor news

A quick round-up of today’s need-to-know news, including the Microsoft outage and Travelers' results.
A roundup of today’s need-to-know news, including leadership changes at Chubb.
It made several new appointments in its large commercial business unit, as well as its client and distribution team.
Gittler joined Axa XL in 2012 and had led the cyber underwriting team since 2021.
The company will now focus on its better-positioned businesses.
Lee and Barker were promoted to underwriting and distribution leadership.
The appointment is part of a reorganization of the Americas business.
The realignment will bring together more product lines for Axa’s mid-size clients.
The shares are being sold by select shareholders in the group.
Michael Yeats will now lead the automatic reinsurance facilities division in the US.
Along with D&F, Fidelis is looking to grow in marine construction and aviation.
On May 9:
The appointment is part of Axa XL's plans for a more client-centric approach.
The new suite of coverages is designed to meet the unique needs of healthcare organizations.
This is the second recent deal in the US crop sector after the $240mn AIG-AFG transaction.
The syndicate will be Asta managed and have capacity from Hampden Names.
The MGU is exploring additional third-party capital relationships.
He will also step down as ABIC chairman.
The underwriter will report to Kristina Maffit.
Coppola was also a member of the NA exec management board.
The firm’s growth focus for 2024 will be in property D&F.
The (re)insurer’s Q4 CoR rose 15.2 points to 81.4% on satellite failure, D&F losses.
The Insurance Insider US news team runs you through the earnings results for the day.
The upgrade noted consistent underwriting gains and investment returns, and a CoR below peers.
SEC filings show that Travelers’ equity ownership was valued at over $107mn in Q4.
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