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Convex News
Convex news from Insurance Insider
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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Last week, the insurer placed ~450 staff at risk of redundancy in its international business. -
Expansion of the middle-market book is an ongoing focus.
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Zaffino said the divested crop and travel businesses needed scale to be more profitable.
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