HAMILTON, BERMUDA, 13th February 2025. – Asta is delighted to support Convex as it prepares to enter the Lloyd’s market – a significant step in the company’s continued growth. Asta has been appointed as the managing agent for Convex’s new syndicate, providing regulatory oversight and operational support as the business expands its presence into Lloyd’s. This new partnership reflects Asta’s proven track record in bringing ambitious, high-quality entrants into the market, reinforcing our position as the leading third-party managing agent at Lloyd’s.

Convex Group Limited (“Convex”), the international specialty insurer and reinsurer, today announces that it has received in principle approval to launch Lloyd’s Syndicate 1984, which will commence underwriting in April 2025. Convex has worked closely with its advisors Gallagher Re and Asta, which has been appointed as the Managing Agent.

Syndicate 1984 will be led by active underwriter, Jacqueline Wiffen, UK CUO for insurance at Convex, and has an initial target to underwrite £150m of gross written premium in 2025. It will underwrite some reinsurance of Convex and selected lines of international business including accident & health, casualty, crisis management, ELA (equine, livestock & aquaculture), energy, marine, political risk and property.

Paul Brand, CEO, Convex Group, said: “Convex is always looking for new opportunities to develop its business both in Bermuda, London and elsewhere. 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. I thank our partners for their support during this launch. We look forward to bringing new business to Lloyds’ unique and innovative marketplace and building a leading syndicate together.”

Jacqueline Wiffen, active underwriter, Convex Syndicate 1984, said: “I am excited to have been named active underwriter of the new syndicate. Convex has an amazing track record and I look forward to leading the new syndicate for the benefit of our clients and the wider market.”

Patrick Tiernan, Lloyd’s Chief of Markets, said: “We are very pleased that the Convex team have chosen to bring their underwriting talent and leadership to the Lloyd’s market. 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. 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 at Asta, said: “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.”