Convex Group, an international specialty insurer and reinsurer, has received in-principle approval to launch Lloyd’s Syndicate 1984, which will begin underwriting in April 2025.
The company collaborated with advisors Gallagher Re and Asta, with Asta appointed as the Managing Agent.
Jacqueline Wiffen, UK CUO for insurance at Convex, will lead Syndicate 1984 as the active underwriter. The syndicate aims to underwrite £150mn in gross written premium in 2025.
It will provide some reinsurance for Convex and cover select international business lines, including accident and health, casualty, crisis management, equine, livestock and aquaculture (ELA), energy, marine, political risk, and property.
Paul Brand, CEO of Convex Group, stated that the company seeks opportunities for growth in Bermuda, London, and other markets. He emphasized that Lloyd’s is a key insurance hub and has always been a potential expansion avenue for Convex. He expressed appreciation for partners supporting the launch and looks forward to contributing to Lloyd’s marketplace.
Jacqueline Wiffen said she is honored to lead the new syndicate, highlighting Convex’s strong track record and her commitment to delivering value for clients and the broader market.
Patrick Tiernan, Lloyd’s Chief of Markets, welcomed Convex’s entry, noting the firm’s underwriting expertise and long-term vision align with Lloyd’s objectives. He stated that Lloyd’s aims to attract top underwriters who can leverage the platform’s strategic advantages.
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.
Patrick Tiernan, Lloyd’s Chief of Markets
“The Convex executive team have extensive Lloyd’s experience, with long term vision and interests that align well with ours. Syndicate 1984 will be a welcome addition to our underwriting platform.”
Lorraine Harfitt, CEO of Asta, called Convex one of the most successful insurance companies in recent years. She noted that Asta’s role as a managing agent, combined with a shared focus on innovation and best practices, will help extend Convex’s underwriting success to the Lloyd’s market.
Convex has been one of the biggest insurance success stories in recent years and we are delighted to support Stephen, Paul and his team in securing in-principle approval for Syndicate 1984. By combining Asta’s strengths as a managing agent with our collective commitment to innovation and best practice, our partnership aims to extend Convex’s proven underwriting track record to the Lloyd’s market.
Lorraine Harfitt, CEO at Asta
Convex Group combines top industry talent, diverse perspectives, and a strong balance sheet to drive a distinctive business approach.
