Convex writes $1.9bn in premiums. Created: Aug 14, 2026 05:44 PM AIG has acquired about a 35 per cent equity interest in Convex for approximately $2.1 billion (File photograph) Convex wrote $1.9 billion of gross premiums in the second quarter, up 8.1 per cent year on year, although net income fell 39 per cent to $169 million as its combined ratio rose to 85 per cent. The Bermudian-based speciality re/insurer said its combined ratio - a key measure of underwriting profitability - deteriorated from 80.7 per cent in the same period last year. A ratio below 100 per cent indicates underwriting profit. Net written premiums rose 4.7 per cent to $1.25 billion, while net premiums earned increased 6.5 per cent to $953 million. Over the 12 months to June 30, however, Convex reported net income of $719 million, excluding $41 million in one-off costs tied to the Onex and American International Group acquisition, up from $520 million a year earlier. Its combined ratio improved to 83.7 per cent from 94.2 per cent over the same period. Onex Corporation bought a 63 per cent stake in Convex in February this year for $4.9 billion along with AIG which acquired about a 35 per cent equity interest in Convex for approximately $2.1 billion, making it the second largest shareholder of the company founded in 2019 by industry veterans Stephen Catlin and Paul Brand with $1.7 billion in initial capital.

Greg Bowman heads to Bermuda to lead ceded reinsurance analytics at The Fidelis Partnership. The Fidelis Partnership has announced that Greg Bowman (pictured right) has taken on expanded responsibilities as group head of ceded reinsurance analytics and will relocate from London to Bermuda, reflecting the increasing importance of portfolio optimisation and capital efficiency across TFP's growing network of capacity providers. Bowman will be responsible for the design and placement of ceded reinsurance programmes, helping capacity partners manage volatility, optimise risk-adjusted returns and enhance portfolio profitability. He brings more than 15 years of experience in reinsurance analytics, capital modelling and ceded structure optimisation. In addition, ex-Convex impact analytics manager Alex Rossiter (pictured left) has rejoined TFP from Convex as head of portfolio analytics and risk allocation, based in London. John-Paul O'Hare, group director of underwriting, said: "Alex's return strengthens the portfolio management and risk allocation disciplines that support our platform, while Greg's expanded role enhances our ability to optimise portfolios across multiple capacity providers, helping partners manage risk and deploy capital efficiently while achieving superior risk-adjusted returns. Their combined expertise will help us support underwriters, enhance portfolio performance and deliver strong outcomes for clients and partners. As well as superior reporting and analysis to our multiple capacity partners." Rossiter said: "Having previously worked with TFP for many years, I am delighted to be returning. During my time away, I gained valuable experience in a different underwriting environment, but it also reinforced just how unique TFP's model is. The combination of entrepreneurial underwriting, analytical rigour, and a relentless focus on portfolio performance creates an environment unlike any other in the market. I am excited to be rejoining the team and look forward to helping further enhance TFP's pricing, portfolio analytics and risk allocation capabilities as the business continues to grow." Editor's picks. Re/insurance 12 June 2026 Re/insurance 5 June 2026 Re/insurance 5 June 2026 Re/insurance 4 June 2026 Re/insurance 1 June 2026 Re/insurance 29 May 2026

Convex to launch UK MGA Kinetic in Q4. * * Insurance Age staff * 03 Jun 2026 * Indicative reading time: 2 minutes Specialty insurer Convex Group is planning to launch Kinetic Insurance Services, a wholly owned managing general agency that will start trading in Q4 2026. The MGA, which it described as "technology-enabled", has received Financial Conduct Authority regulatory approval and will be led by Theo Butt, pictured, former CEO of Convex Insurance UK. Anne Middleton has taken over as CEO of Convex UK, having previously acted as deputy CEO for the region. Convex said Kinetic will be UK-based and target specialty and niche lines of business complementary to its existing portfolio. It added that backed by Convex and third-party capacity, the platform will seek You may also like.