Convex Group has launched Kinetic Insurance Services, a wholly owned, technology-enabled managing general agent, as the international specialty insurer and reinsurer looks to extend its reach into niche and emerging lines of business.
Kinetic has received FCA regulatory approval, will be UK-based and is set to begin trading in Q4 2026. It will target specialty and niche lines complementary to Convex's existing portfolio, backed by a combination of Convex and third-party capacity.
The launch is the latest step in an accelerating expansion of Convex's London market footprint. Founded in 2019 by industry veterans Stephen Catlin and Paul Brand with $1.8 billion of initial committed capital, Convex has grown into one of the more significant names in specialty re/insurance.
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In 2025, the group reported gross written premium of $5.9 billion and net income of $711 million, with tangible book value up 23% year-on-year and a three-year compound annual GWP growth rate of 25%. In October 2025, private equity firm Onex acquired a 63% equity stake for approximately $3.8 billion while AIG took a 35% minority stake for approximately $2.1 billion, valuing Convex's common equity at $7 billion.
Kinetic will be led by Theo Butt, who steps across from his role as CEO of Convex Insurance UK. Anne Middleton has been appointed to succeed him in that position.
Research showed that for 98% of brokers, capacity from an A-rated or highly rated provider increases the attractiveness of an MGA partnership, a significant structural advantage for a vehicle backed by Convex, which carries an AM Best "A" (Excellent) rating and an S&P "A-" with positive outlook.
Separately, a study by Corin Underwriting found that 80% of brokers prefer MGAs that concentrate on bespoke products tailored to specialist industries, which aligns directly with Kinetic's stated remit.
"The MGA market presents compelling opportunities. Through Kinetic, we'll access new and emerging markets, delivering quality products underpinned by innovation, strong customer service, and integrity, creating real value for brokers and clients alike," said Doug Howat, group chief underwriting officer of insurance and reinsurance at Convex.
Kinetic sits alongside a series of moves that reflect Convex's deepening commitment to the London market. Syndicate 1984 commenced underwriting at Lloyd's in April 2025, led by active underwriter Jacqueline Wiffen, with an initial target of £150 million of gross written premium. The syndicate recorded gross written premium of £294.4 million in 2026, well ahead of that target, and Convex has since received in-principle approval for a second syndicate, Syndicate 1987, expected to begin underwriting on July 1, 2026 and focusing on casualty, political risk and trade credit lines.
The dual syndicate structure, combined with Kinetic, gives Convex three distinct delegated and London market vehicles operating in parallel, each targeting different segments and lines of business.
Lloyd's is projected to write £67.4 billion in gross written premium in 2026, with its chief of market performance describing conditions as a "softening" rather than "soft" market that "could turn on a knife edge", placing a particular premium on underwriting discipline - precisely the quality Convex is positioning at Kinetic's core.
UK MGAs are increasingly leveraging AI and advanced data analytics to refine risk selection and pricing, with technology enabling them to operate with greater efficiency, attract capital and access new markets.
Kinetic's emphasis on technology-driven underwriting is consistent with that trend, and its position within the Convex infrastructure gives it access to analytical and operational resources that standalone MGAs would take years to build.
"This strategic initiative aims to establish a market-leading MGA built on the principles Convex is renowned for - underwriting excellence, technology-driven innovation, and exceptional customer experience," said Kinetic CEO Theo Butt. "Operating with a differentiated risk appetite and the agility of the MGA model, Kinetic will attract high-calibre talent drawn to Convex's established infrastructure."
