The Board of Convex Group Limited has named company co-founder Paul Brand as the group’s chief executive officer, effective July 01.
Brand has been deputy chief executive officer since he launched Convex with Stephen Caitlin, who is the executive chairman of the company.
“I am truly delighted that Paul has been appointed CEO by the board. When we launched Convex in 2019, the plan was that Paul would become CEO in due course and his appointment has been fully endorsed by our shareholders,” Caitlin said. “He has led the team which has built Convex into a superb business with a strong competitive advantage and hard to replicate intellectual property. This promotion is very well deserved.”
Brand has four decades of experience in insurance, serving as the chief underwriting officer for almost half of his 31 years at Caitlin and XL Caitlin. From 2016 to 2018, he was also the chairman at Accelerate, XL Caitlin’s in-house innovation team. It was from this point onwards when he began to work with Caitlin on Convex.
Established in 2019, Convex Group is an international specialty insurer and reinsurer focused on complex specialty risks across a diverse range of business lines. It is operated out of London, Bermuda, Luxembourg and New Jersey.
“Paul and Stephen have demonstrated an incredible ability to build a quality insurance group. The result, Convex, is a tremendous achievement and we expect the business will thrive under Paul’s leadership whilst benefitting from Stephen and Paul’s continuing partnership,” said Bobby Le Blanc, president of Onex Partners. “We fully expect that they will deliver value to shareholders over time and Onex Partners thoroughly endorses the board’s decision.”