Specialty (re)insurer gets green light for new Lloyd’s syndicate

Convex Group has received in principle approval to launch Lloyd’s Syndicate 1984, which will commence underwriting in April 2025.

Syndicate 1984 will underwrite some reinsurance of the specialty (re)insurer and selected lines of international business, including accident and health, casualty, crisis management, equine, livestock and aquaculture, energy, marine, political risk and property.

It has an initial target to underwrite £150m of gross written premium in 2025.

Paul Brand, chief executive at Convex Group, said: “Convex Group 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 Group 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.”

Leader

Syndicate 1984 will be led by active underwriter Jacqueline Wiffen, who also holds the role of UK chief underwriting officer for insurance at Convex Group.

She has over 20 years of insurance industry experience, based in Asia and London, and has held a variety of senior positions and client-facing roles in both broking and underwriting.

Wiffen said: “I am excited to have been named active underwriter of the new syndicate.

“Convex Group has an amazing track record and I look forward to leading the new syndicate for the benefit of our clients and the wider market.”