Stephen Catlin News

Catlin’s Convex Group Raises Capital of $500 Million

Convex Group Ltd. has secured $500 million in committed preferred equity capital from affiliates of Sixth Street, a leading global investment firm. The investment follows Convex’s recent $1 billion capital raise from a consortium led by Onex and GIC, in …

Established Insurers Could See Market Share Squeezed by Fintechs, EU Says

Established insurers will face a squeeze on profits and market share as new financial technology companies muscle in on the industry, a senior European Union official said on Wednesday. More fintech firms are expected to offer insurance, helped by the …

Specialty Re/Insurer Convex Group Raises $1B in Additional Capital

Specialty insurer and reinsurer Convex Group Ltd. announced it has secured commitments for an additional $1.0 billion of equity capital, subject to the requisite regulatory approvals. Bermuda-based Convex launched in April 2019 with $1.7 billion of initial committed capital. This …

Pandemic Reinsurance Solution Gains Wide Support from UK Re/Insurance Industry

UK insurance executives have taken another step toward developing a public-private risk-financing mechanism for future pandemics with the creation of work streams to take the idea from the drawing board to an operating company. So-called “Pandemic Re,” which was first …

UK Insurance Industry Leaders Form Steering Group to Propose Pandemic Response, Chaired by Catlin

UK Insurance industry leaders have combined to form a steering group, which will work with terrorism reinsurer Pool Re, with the primary objective to ensure that, working alongside the industry to support customers and communities in the current crisis, the …

New Specialty Re/Insurer Convex Authorized to Write Excess and Surplus Lines in U.S.

Convex Group, the Bermuda-based international specialty insurer and reinsurer, announces that its UK insurance subsidiary, Convex Insurance UK Ltd., has been added to the National Association of Insurance Commissioners (NAIC) Quarterly Listing of Alien Insurers with effect from Oct. 1, …

3 Industry Veterans Relish Fresh Start for Their Latest Legacy-Free Ventures

Although the insurance market is awash with capacity and competition, two new specialty companies—a re/insurer and a broker—formed earlier this year, aiming to create something new and different for their clients. First, well-known industry veterans Stephen Catlin and Paul Brand, …

Industry Veterans Catlin and Brand Launch Specialty Bermuda Re/Insurer Convex Group

Insurance industry veterans Stephen Catlin and Paul Brand announced they have launched an international specialty insurer and reinsurer, Convex Group Ltd. Convex launches with $1.8 billion of initial committed capital and will draw down $1.6 billion to commence business; it …

AXA’s Duverne Named Chairman of Insurance Development Forum, Replacing Catlin

The Insurance Development Forum (IDF) announced the appointment of Denis Duverne as chair of its Steering Committee, succeeding Stephen Catlin, effective Sept. 11, 2018. The IDF is a public-private partnership, led by a senior insurance industry executive and supported by …

Insurance Protection Gap Is Growing Global Problem; Swiss Re, RenRe & WTW Comment

The insurance protection gap. It’s a phrase that will be increasingly heard over the coming years – because it is getting bigger. The protection gap is the difference between insured losses and economic losses, or uninsured losses. The protection gap …