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Convex news from Insurance Insider US

Convex promotes Simons to Bermuda CEO, Chandler to group deputy reinsurance CUO

Paul Simons joined the company last year from Axa XL as deputy CEO of Convex Re.

Samuel Casey, September 05, 2023

Convex hires Hamilton terrorism duo for US MGU platform

Dover and Nersessian-Hristova’s appointments mark the first expansion of Convex US since its launch earlier this year.

Aisling Finn, November 14, 2022

Business People Meeting Discussion Communication Concept

Convex Re Bermuda appoints Quinn as US property underwriter

Richard Quinn becomes the latest to depart from a property cat-related role at Axis Capital.

Liz Bury, September 02, 2022

Convex launches North American MGA

The unit led by Dan Kumpf will offer miscellaneous professional liability cover.

Rachel Dalton, July 21, 2022

Convex obtains reciprocal jurisdiction insurer status in US

The status will allow the Stephen Catlin-led business to write US reinsurance without posting reinsurance collateral.

Samuel Casey, November 30, 2021

AM Best revises outlook for Convex to positive

The ratings agency has also affirmed the A- FSR of Convex’s UK and Bermudian entities.

John Hewitt Jones, April 22, 2021

Convex entry eases pressure in hard US D&O market: Gallagher

The carrier will be actively targeting excess lines on US-listed placements, where capacity has been shrinking.

Samuel Casey, September 01, 2020

First direct cargo flight links Chongqing, Africa

Munich Re, Convex, AIG also on Ethiopian Airlines loss

The airline has said that it does not expect a total loss to the $200mn policy with the aircraft repairable.

Adam McNestrie, August 10, 2020

Convex sets wheels in motion on major capital raise

Sources suggest the raise could take the (re)insurer's equity base up to the $3bn it initially targeted.

Adam McNestrie, July 28, 2020

Competitor news

Asbestos reserve development: The next shoe to drop or a Travelers issue?

Asbestos claims for exposed insurers could place more pressure on workers’ comp reserves.

Amit Kumar, October 18, 2024

Axa XL Re makes Swiss Re’s Schiffer CEO for North America

Axa XL Re has hired former Swiss Re executive Greg Schiffer as its North America CEO, effective from 11 November.

Rachel Dalton, October 18, 2024

Travelers BI $151mn ex-asbestos Q3 reserve releases fueled by WC: CFO Frey

Umbrella and commercial auto led Q3 rate hikes with double-digit increases.

Jairo Ibarra, October 17, 2024

Travelers Q3 CoR improves 7.8 pts to 93.2% despite Helene losses

The firm reported $547mn from Hurricane Helene losses.

Jairo Ibarra, October 17, 2024

QBE to launch US inland marine offering with AIG’s Primerano

The carrier has appointed AIG’s Sharon Primerano as vice president and US inland marine manager.

Abbie Day, October 15, 2024

Cyber threats again top business concern in 2024: Travelers’ Risk Index

Top concerns also included medical cost inflation and employee benefit costs.

Clark Mindock, September 24, 2024

AIG appoints Marsh’s Walsh as CFO as Purtill steps down

Based in New York, he joins the firm after seven years as Marsh CFO.

Kyoung-son Song, September 18, 2024

Axa XL names Caponigro head of re capital management

Chris Caponigro will be responsible for expanding Axa XL’s product offering and investor base.

Jai Singh, September 16, 2024

business background of businessman having handshake

AGCS hires AIG’s Lillelund as CEO to replace Papanikolaou

The executive has resigned from AIG to fill the vacant CEO role at the large corporate unit of the German carrier.

Adam McNestrie, September 16, 2024

Fidelis Insurance Group adds Kittinger as COO

The executive spent 18 years in various finance roles at Arch.

Rachel Dalton, September 12, 2024

AIG hits back against Dellwood’s latest attempt to kill trade secrets suit

The insurer said Dellwood’s "spin" isn’t enough to dismiss the litigation.

Clark Mindock, September 11, 2024

AIG eliminates ~280 US roles after international streamlining

Last week, the insurer placed ~450 staff at risk of redundancy in its international business.

Adam McNestrie, September 09, 2024

Streamlined Axa XL has ‘tremendous’ US runway: Pilko

Expansion of the middle-market book is an ongoing focus.

Shelby Rosenberg, September 09, 2024

AIG ‘largely done’ following the divestiture of travel business: Zaffino

Zaffino said the divested crop and travel businesses needed scale to be more profitable.

Jairo Ibarra, September 05, 2024

AIG launches redundancy consultation for ~450 international roles

The move is the latest phase of the operational transformation program, AIG Next.

Adam McNestrie, September 03, 2024

Business executives standing on stage facing spotlight, rear view

Talbot AIG’s US war and terrorism head Walsh resigns

The PVT market has seen a recent spike in staff movements, as new capacity enters the space.

Samuel Casey, August 29, 2024

OxFOt-civil-cases-filed-terminated-and-pending-since-2014-thousands- copy.png

Social inflation in 2024: At the H1 mark, trends have only worsened

Civil case, nuclear verdict and claims count data show worrying trends.

Amit Kumar, August 27, 2024

Global Cyber Warfare Ransomware IIUS.jpg

Ransomware demands averaged nearly $1.6mn in Q2: Corvus

The figure represents a quarterly increase of 102%.

Danielle Ling, August 22, 2024

Fidelis ceases IP writing following higher-than-expected defaults

The carrier also reported more difficulty than anticipated in realizing the value of collateral following the defaults.

Shelby Rosenberg, August 15, 2024

Q2 earnings roundup August 14: Fidelis, Aspen

The Insurance Insider US news team runs you through the earnings results for the day.

Insurance Insider US news team, August 14, 2024

Travelers offloads 1.2 million Fidelis shares worth roughly $47mn

Travelers now holds around 6.2% of Fidelis, down from over 7.2%.

Jairo Ibarra, August 12, 2024

Axa XL has expanded its Americas specialty insurance team

The carrier has made several recent high-level promotions.

Shelby Rosenberg, August 12, 2024

RiverStone confirms it took $1.2bn of QBE $1.6bn legacy deal

The legacy firm said the deal would strengthen its Bermuda operations.

Fiona Robertson, August 09, 2024

Where do insurance companies stand if a US recession hits?

The industry could weather a recession, unless loss costs and reserving pressures worsen.

Amit Kumar, August 07, 2024

Overexertion, slips and falls still driving majority of workers’ comp claims: Travelers

The report also noted that 35% of injuries occurred during an employee’s first year.

Danielle Ling, August 05, 2024

Insider On Air: Our Webinars & Podcast Channel

Webinars

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Insurers Evolving to Risk Mitigation to Reduce Costs

Join Insurance Insider, in partnership with Guidewire, for a free webinar, 10:30 ET/15:30 GMT Dec. 3

October 02, 2024

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How Insurers Are Harnessing Gen AI to Improve Risk Selection

Join Insurance Insider, in partnership with Moody’s, for a free webinar, 10:30 ET/15:30 GMT on December 4

July 04, 2024

Podcasts

Behind the Headlines Podcast

Behind the Headlines: Ian Gormley on the key takeaways from RIMS, and BMS expansion plans in 2024

Listen in as BMS UK CEO Ian Gormley shares key takeaways from RIMS, changing dynamics in the property E&S market, and BMS expansion plans in 2024.

May 23, 2024

Behind the Headlines: Rating conditions gear-shift and Inigo's Watson & Kaye on its next phase of growth

Listen in as Inigo CEO Richard Watson and head of reinsurance Alice Kaye discuss the use of data and AI in underwriting, the possibilities of entering the casualty treaty market, and all options being on the table for future capital events.

May 09, 2024

Behind the Headlines Socials_episode5.png

Behind the Headlines: Israel escalation and Convex's Paul Brand on building and running a $4bn (re)insurer

Listen in as Convex CEO Paul Brand discusses building and running a $4bn (re)insurer. Also in this episode, Insurance Insider's Rachel Dalton provides an update on Dubai flooding and reinsurance coverage in the Middle East.

April 25, 2024

Behind the Headlines: 1.4 recap and Howden Re's Sandy Warne on political violence in a 'world on fire'

In this episode Insurance Insider lead reporter Rachel Dalton runs down the key highlights of the 1.4 reinsurance renewals as capacity returned to the market.

April 11, 2024

From our other titles

Enstar to be taken private by shareholder Sixth Street in $5.1bn deal

The deal values the business just under its closing price on Friday, at 0.97x book value.

Adam McNestrie, July 29, 2024

Aspen promotes Dunleavy to president and Pickering to group CFO

The new leadership structure is designed to create more accountable executive roles responsive to Aspen’s strategy.

Samuel Casey, July 29, 2024

Chubb adds $1.7bn US cat top layer to treaty

The insurer also pushed up its retention by $650mn.

Fiona Robertson, July 29, 2024

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