Syndicate 1987 is expected to begin underwriting in July, with a focus on long-tail specialty lines including casualty, political risk and trade credit
Convex has received in principle approval to launch Lloyd’s Syndicate 1987, with underwriting expected to begin on 1 July 2026.
The international specialty insurer and reinsurer said the launch remains subject to appropriate regulatory approvals.
Capacity to support the approved business plan will be provided by Convex.
The new syndicate will focus exclusively on long-tail specialty lines, deploying capacity across a targeted portfolio of casualty insurance and reinsurance, political risk and trade credit.
Asta will act as managing agent for Syndicate 1987.
Allison Hollern, head of financial institutions at Convex, will become active underwriter, subject to regulatory approval.
Paul Brand, CEO of Convex Group, 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.”
Convex said the new vehicle will expand its Lloyd’s partnership and provide additional capacity for long-tail specialty business.
Syndicate 1984 will remain focused on whole account reinsurance of Convex, while also being streamlined to provide international capacity for direct short-tail risks.
Lorraine Harfitt, CEO 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 Allison and her team,” she added.
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