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Convex News
Convex news from Insurance Insider
The global insurer is buying access to distribution and underwriting at a carrier with a 27% GWP CAGR.
Onex’s own balance sheet will become a 63% owner and AIG takes a 35% stake.
The ratings agency cited the carrier’s growth and performance.
A positive outcome could significantly curb insurers’ exposure to the loss.
Growth came across all lines, and losses from catastrophe events were within expectations.
Of the 178 passengers and crew on board, no serious injuries have been reported.
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 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
Competitor news
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A memo to staff said the executive will be “pursuing new opportunities outside of our company”. -
The move from Chubb comes at a moment of perceived weakness for AIG.
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Approached for comment, Chubb denies that it submitted “an offer” for AIG.
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Behind the Headlines Podcast
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How do you harmonise distribution strategies in a rapidly evolving marketplace?
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In Partnership with AXISMichael McKenna, Head of North America Specialty Insurance, AXIS, outlines the key trends shaping the industry as 2025 comes to a close and underscores that talent acquisition and rapid technology integration will be critical for specialty insurance in 2026.
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In Partnership with AXISLooking ahead to 2026, Michael Silas, Head of Global Credit, AXIS, sees mildly positive global growth driven by tech and infrastructure, but says credit sentiment remains cautious and reinsurers must still price to long‑term tail risk.
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Nobody likes flying in turbulence, and in recent years aviation insurers have faced their fair share of upheaval.
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In Partnership with ApolloWith real-time data and analytical tools giving underwriters a clear view of pricing adequacy, mix and attachment points, and allowing faster corrective action when rates fall below acceptable thresholds, insurers are shifting into a new paradigm for soft markets, said James Slaughter, Group CUO, Apollo, during an interview at the Insurance Insider’s London Market Conference.
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In Partnership with Fidelis PartnershipInsurers can turn the global energy transition into both a commercial opportunity and a force for societal good, said Charlie Heathcote, Head of Sustainability, the Fidelis Partnership, during an interview at the Insurance Insider’s London Market Conference
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From our other titles
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Brown & Brown appoints Hearn to lead global operations
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