Convex Group Ltd. Set to Launch Lloyd’s Syndicate 1984 in 2025: A New Era in Specialty Insurance
Convex Group Ltd., a prominent player in the international specialty insurance and reinsurance landscape, has recently announced the in-principle approval to establish Lloyd’s Syndicate 1984. This new venture is set to commence underwriting operations in April 2025, marking a significant milestone for the company and its stakeholders.
Strategic Partnerships and Management
To facilitate this launch, Convex has collaborated with renowned advisers Gallagher Re and appointed Asta as the managing agent for Syndicate 1984. This strategic partnership is expected to leverage the expertise and resources of these established firms, ensuring a robust foundation for the new syndicate’s operations.
Leadership and Underwriting Goals
Syndicate 1984 will be spearheaded by Jacqueline Wiffen, who serves as the active underwriter and UK Chief Underwriting Officer for insurance at Convex. The syndicate has set an ambitious initial target to underwrite £150 million in gross written premiums during its first year of operations in 2025. The scope of underwriting will encompass a diverse range of international business lines, including:
- Accident & Health
- Casualty
- Crisis Management
- ELA (Equine, Livestock & Aquaculture)
- Energy
- Marine
- Political Risk
- Property
This broad spectrum of coverage underscores Convex’s commitment to addressing the diverse needs of its clients in an evolving market.
Vision for Growth and Market Presence
Paul Brand, CEO of Convex Group, emphasized the company’s ongoing pursuit of new opportunities for growth, particularly in key markets such as Bermuda and London. He stated, “Lloyd’s is a core insurance market and part of Convex management’s DNA. Entering Lloyd’s has always been a distinct possibility, and we feel that now is the right time to enter this fantastic marketplace.”
Jacqueline Wiffen expressed her enthusiasm for leading the new syndicate, highlighting Convex’s impressive track record and her commitment to delivering value to clients and the broader market.
Support from Lloyd’s Leadership
Patrick Tiernan, Lloyd’s Chief of Markets, welcomed Convex’s entry into the Lloyd’s market, stating, “We want the best underwriters in the world to be operating deliberately in our market and enjoying the strategic benefits that can be uniquely deployed from Lloyd’s.” Tiernan’s remarks reflect the high expectations surrounding Syndicate 1984 and the potential it holds for innovation within the Lloyd’s framework.
Acknowledgment of Success
Lorraine Harfitt, CEO at Asta, praised Convex as one of the most significant success stories in the insurance industry in recent years. She expressed her delight in supporting the team as they secure in-principle approval for Syndicate 1984, indicating strong confidence in the syndicate’s potential.
About Convex Group Ltd.
Founded by industry veterans Stephen Catlin and Paul Brand, Convex operates from multiple locations, including London, Bermuda, Luxembourg, and New Jersey. The company boasts an “A” (Excellent) rating from A.M. Best and an “A-” rating with a stable outlook from S&P, reflecting its strong financial standing and commitment to excellence in the insurance sector.
Looking Ahead
As Convex Group Ltd. prepares to launch Lloyd’s Syndicate 1984, the insurance industry watches closely. The combination of experienced leadership, strategic partnerships, and a diversified underwriting approach positions the syndicate for success in a competitive marketplace.
For more information about Convex Group and its offerings, visit Convex Group.
In summary, the establishment of Lloyd’s Syndicate 1984 represents a significant advancement for Convex Group, aligning with its vision of growth and innovation in the specialty insurance sector. With a strong leadership team and a clear strategy, Syndicate 1984 is poised to make a meaningful impact in the Lloyd’s market starting in April 2025.