Convex Group Raises An Additional $1 Billion In Funding

The initial capital was raised from the Convex management team, Onex Partners V, Onex Corporation’s large-cap private equity fund, and a consortium of co-investors, the company said. The new capital was raised by the same investor group along with new Onex co-investors.

“Onex and our existing investor base have provided us with tremendous support in building the business, and we welcome our new investor partners,” said Convex co-founder Stephen Catlin. “We are delighted to have additional capital, as this will enable us to take full advantage of the hardening market.”

“In 18 months, Convex has become a 300-people-strong insurer and reinsurer with a significant presence in Bermuda and London,” said co-founder Paul Brand. “We launched Convex with a singular vision, to create a world-class company for the 2020s which was legacy-free, technologically proficient, and well-endowed with capital to provide a safe haven for our customers. We are well on our way to achieving that vision.”