Convex Group, the specialty insurance and reinsurance company founded by Stephen Catlin, has added another $1 billion dollar of capital from private equity investors, taking its total committed capital base to more than $2.7 billion.Convex launched back in April 2019 with $1.7 billion of initial committed capital.Now, the same investor group and private equity partner Onex have helped the re/insurer lift itself to over $2.7 billion, giving the company ample firepower to grow its footprint and market share across the insurance and reinsurance business lines it operates in.Convex has raised its capital from its own management team, Onex Partners V, Onex Corporation’s (TSX: ONEX) large-cap private equity fund, and a consortium of co-investors.

This additional capital has been raised by the same investor group as well as additional new Onex co-investors.Stephen Catlin commented, “Onex and our existing investor base has provided us with tremendous support in building the business and we welcome our new investor partners.We are delighted to have additional capital as this will enable us to take full advantage of the hardening market.” Paul Brand added, “In 18 months, Convex has become a 300 people strong insurer and reinsurer with a significant presence in Bermuda and London.

We launched Convex with a singular vision, to create a world class company for the 2020’s which was legacy free, technologically proficient and well-endowed with capital to provide a safe haven for our customers.We are well on the way to achieving that vision.” Convex has also recently been adding capital in another form through transaction, which have brought the capital markets firmly into its reinsurance program to the tune of $300m.———————————————————————.All of our Artemis Live insurance-linked securities (ILS), catastrophe bonds and reinsurance can be accessed online.

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