Specialty insurer to launch new syndicate focused on long-tail specialty lines

Convex Group has received in principle approval to launch Lloyd’s Syndicate 1987.

The syndicate, which is planned to commence underwriting on 1 July 2026, will focus exclusively on long-tail specialty lines, deploying capacity across a targeted portfolio of casualty insurance and reinsurance, as well as political risk and trade credit.

Paul Brand, chief executive at Convex, said: “The introduction of Syndicate 1987 strategically complements Convex’s inaugural vehicle, Syndicate 1984, which will remain dedicated to the whole account reinsurance of Convex, whilst streamlining to provide international capacity for direct short-tail risks.

”This dual syndicate structure will provide a comprehensive footprint for international business, ensuring Convex is well positioned to meet the growing demands of its clients and brokers by delivering sustainable, accretive capacity across the entire spectrum of specialty lines.”

Managing agent

Asta will be the managing agent of the new syndicate and Allison Hollern, head of financial institutions at Convex, will become active underwriter, subject to regulatory approval.

Lorraine Harfitt, chief executive at Asta, said: “We are delighted to manage Syndicate 1987 and support Convex with this new venture.

”We look forward to assisting in expanding Convex’s market offering and to strengthen the relationship Asta and Convex share, working closely with Hollern and her team.”