The Board of Convex Group Ltd., the Bermuda-based specialty re/insurer, announced that Paul Brand, who founded the business in 2019 with Stephen Catlin, will become group CEO with effect from July 1, 2022.
Brand has been deputy CEO since Convex was founded.
“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,” commented Stephen Catlin, executive chairman.
“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.”
“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 of Onex Partners, a large-cap private equity fund and Convex investor.
“We fully expect that they will deliver value to shareholders over time and Onex Partners thoroughly endorses the board’s decision,” he added.
Source: Convex
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