Convex Group Ltd., the international specialty insurer and reinsurer, announced it has received in-principle approval to launch Lloyd’s Syndicate 1987, which is planned to commence underwriting on July 1, 2026, subject to appropriate regulatory approvals.
With capacity to support the approved business plan provided by Convex, Syndicate 1987 will focus exclusively on long-tail specialty lines, deploying capacity across a targeted portfolio of casualty insurance and reinsurance, and political risk and trade credit.
Asta will be the managing agent of the new syndicate and Allison Hollern, head of financial institutions at Convex, will become active underwriter, subject to regulatory approval.
“The introduction of Syndicate 1987 strategically complements Convex’s inaugural vehicle, Syndicate 1984, which will remain dedicated to the whole account reinsurance of Convex, whilst streamlining to provide International capacity for direct short-tail risks,” commented Paul Brand, CEO, Convex Group, in a statement.
“This dual syndicate structure will provide a comprehensive footprint for International business, ensuring Convex is well positioned to meet the growing demands of its clients and brokers by delivering sustainable, accretive capacity across the entire spectrum of specialty lines,” Brand added.
Lorraine Harfitt, CEO at Asta, said: “We are delighted to manage Syndicate 1987 and support Convex with this new venture. We look forward to assisting in expanding Convex’s market offering and to strengthen the relationship Asta and Convex share, working closely with Allison and her team.”
Source: Convex
Topics
Excess Surplus
New Markets
Lloyd’s
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