Convex Group Ltd., the international specialty insurer and reinsurer, announced it has received in-principle approval to launch Lloyd’s Syndicate 1987, which is planned to commence underwriting on July 1, 2026, subject to appropriate regulatory approvals.
With capacity to support the approved business plan provided by Convex, Syndicate 1987 will focus exclusively on long-tail specialty lines, deploying capacity across a targeted portfolio of casualty insurance and reinsurance, and political risk and trade credit.
Asta will be the managing agent of the new syndicate and Allison Hollern, head of financial institutions at Convex, will become active underwriter, subject to regulatory approval.
“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,” commented Paul Brand, CEO, Convex Group, in a statement.
“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,” Brand added.
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.”
AXA XL announced the creation of a new Business Unit dedicated to prevention. The new unit, led by Global Chief Underwriting Officer Libby Benet, will accelerate the development and reach of AXA XL’s risk consulting capabilities and prevention services.
The Business Unit will combine advanced data, analytics and technology with AXA XL’s risk engineering and advisory expertise to deliver innovative solutions to help businesses address today’s most pressing risks, including climate, supply chain disruption, cyber threats and operational resilience.
AXA’s 2025 Future Risks Report highlights prevention as a critical strategy for the future, with 86% of experts agreeing that the most concerning risks could be at least partially avoided through preventive measures. As risks become more complex and interconnected, prevention is becoming a key lever to help businesses better anticipate and manage their exposures.
“Prevention must be at the heart of how we support our clients,” CEO Scott Gunter. “That is why we are making services a core part of our offering. The launch of this business unit marks an important step. By expanding our services capabilities, we are strengthening how we support our clients and positioning AXA XL for the future.
Benet joined AXA XL in 2020 as chief underwriting officer for cyber, before being appointed to her current role in 2022.