New UK-based MGA targeting specialty and niche lines to be launched

Convex Group has launched a new MGA that will target specialty and niche lines of business complementary to the group’s existing portfolio.

Called Kinetic Insurance Services, the firm will be based in the UK and start trading in Q4 2026.

The new MGA will be UK-based and target specialty and niche lines of business complementary to the group’s existing portfolio.

It will be led by Theo Butt, former chief executive at Convex Insurance UK. Anne Middleton has taken over his previous role.

Paul Brand, chief executive at Convex Group, said: “Convex is always looking for new opportunities to develop its business both in Bermuda, London and elsewhere.

”The MGA structure offers flexibility to capital providers, reinsurers and business partners. Using our capability for writing delegated business, we believe that this business will become a major part of Convex’s future growth.”

‘Compelling opportunities’

Commenting on the MGA launch, Doug Howat, group chief underwriting officer of (re)insurance at Convex, said: “The MGA market presents compelling opportunities.

“Through Kinetic, we’ll access new and emerging markets, delivering quality products underpinned by innovation, strong customer service and integrity, creating real value for brokers and clients alike. I’m excited to support Butt and the team as this venture takes shape.”

Butt added: “This strategic initiative aims to establish a market leading MGA built on the principles Convex is renowned for – underwriting excellence, technology-driven innovation and exceptional customer experience – creating a complementary pillar within our broader portfolio.

”Operating with a differentiated risk appetite and the agility of the MGA model, Kinetic will attract high-calibre talent drawn to Convex’s established infrastructure. We have strong conviction in its long-term growth potential and the meaningful value it will generate for the organisation.”