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Convex News
Convex news from Insurance Insider
The deal confers a high multiple on Convex and gives AIG re/specialty exposure.
Plus, the latest people moves and all the top news of the week.
CEO Brand said he expected to deliver double-digit growth, if “marginally” lower in 2026.
The fundraising structure for the deal includes a $600mn Convex debt raise.
Onex’s own balance sheet will become a 63% owner and AIG takes a 35% stake.
The number of syndicates traded at auction was the highest for a decade.
The veteran underwriter said market conditions are still ‘robust’.
The LPPC will offer limits of $127.5mn EAR and DSU coverage in the US and Canada.
AIG leads the all-risks cover and Axa XL is the hull war lead.
The claim could add pressure to the hull war market after a recent High Court ruling.
The ratings agency cited the carrier’s growth and performance.
Air India has a multi-year insurance arrangement in place.
The London market is not expected to shoulder the bulk of the eventual loss.
Jim Meakins is the latest in a slew of talent to exit from the syndicate.
A positive outcome could significantly curb insurers’ exposure to the loss.
The specialty MGA has been pursuing an M&A strategy in recent months.
Growth came across all lines, and losses from catastrophe events were within expectations.
Syndicate 1984 is set to begin underwriting next month.
Syndicate 1984 will be backed by Names under a modified freehold arrangement.
Of the 178 passengers and crew on board, no serious injuries have been reported.
Lloyd’s entry is a modest start for the London heavyweight but could be the beginning of something bigger.
Syndicate 1984 will have Names capacity and be managed by Asta.
The upstream market has undergone a period of high personnel movement.
Behind Axa XL, Convex wrote a 9.5% line on the all-risks reinsurance programme.
Competitor news
Competitor news
Competitor news
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APAC now represents roughly 15% of all Lloyd’s premium. -
The business has not initiated a sale process, with the wheels not yet actively turning on an exit for Apiary.
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Prices were 37.4p per £1 of capacity, according to Argenta.
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The syndicate is expected to write ~$300mn of business in 2026.
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Starr’s reinsurance ambitions and embrace of Lloyd’s will be watched closely.
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How do struggling governments across the globe tackle stagnating economic growth?
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This publication revealed that Starr was zeroing in on the deal earlier today.
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The parties could announce the transaction soon, according to sources.
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The start-up has struggled to build scale since its 2024 launch and has cut back its 2026 stamp.
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Brokers may encourage clients to capitalise on falling rates by boosting coverage.
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The MGU’s second syndicate launch was delayed from January 2025.
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Private capital providers are being signed down as two strong years have piqued interest.
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Beazley is one of the key leaders in the London marine marketplace.
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Lloyd’s investment vehicles have been shelved in past years but a strong run of returns is creating interest.
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Sam Geddes will join Syndicate 1918 next year in an executive leadership role.
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In Partnership with Moody'sJoin Insurance Insider for a free webinar, offered in partnership with Moody’s, at 10:30 EST/15:30 GMT on 22 January
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In Partnership with Swiss ReThe global construction industry continues to expand, says Jimmy Keime, Head of Engineering and Nuclear, for Swiss Re.
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In Partnership with Swiss ReAhead of the upcoming Baden-Baden Reinsurance Meeting, top of mind for many are climate, economy and geopolitics, says Nikhil da Victoria Lobo, Head of P and C Reinsurance for Western and Southern Europe and Middle East and Africa for Swiss Re.
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