Convex Group Ltd., the international specialty insurer and reinsurer, has received in-principle approval to launch Lloyd’s Syndicate 1987, which is expected to begin underwriting on July 1, 2026, subject to regulatory approvals.
The new syndicate will focus on casualty insurance and reinsurance, political risk, and trade credit business, with capacity provided by Convex. Asta will serve as managing agent for Syndicate 1987, while Allison Hollern, head of financial institutions at Convex, is expected to become active underwriter, subject to regulatory approval.
The launch expands Convex’s existing Lloyd’s platform, which already includes Syndicate 1984. Syndicate 1984 commenced underwriting on 1 April 2025 with participation in the group’s whole account quota share contract and recorded gross written premium of £294.4m for 2026.
“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,” said Paul Brand, chief executive of Convex Group. “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.”
“We are delighted to manage Syndicate 1987 and support Convex with this new venture,” said Lorraine Harfitt, chief executive of Asta. “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.”
Convex, a start-up founded in 2019, has previously signalled an appetite for sizeable growth within Lloyd’s. Brand said in September 2025 that the firm was evaluating new initiatives either through its existing syndicate or another vehicle and was in discussions with Lloyd’s management about advancing those plans.
