Lloyd’s bound Convex releases 2024 results
Convex Group grew gross written premiums by 22% last year to $5.17bn (£4bn) as its combined operating ratio improved to 87.6% from 89.6% in 2023.
The figures for the international specialty insurer and reinsurer came as the underwriting result soared by 57% to $381m. The investment return also strengthened year-on-year, by $32m to $272m.
The provider made its second consecutive net profit at $506m, in line with the $503m achieved the year before.
Lloyd’sConvex was launched by insurance industry experts Stephen Catlin and Paul Brand in 2019.
Stephen Catlin founded the insurer Catlin in 1984. XL bought it in 2015, which in turn bought it by
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