Specialty reinsurer Convex Group has obtained in-principle clearance to establish Lloyd’s Syndicate 1987.
The new syndicate is due to begin underwriting on 1 July 2026, pending regulatory approval.
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It is intended to write only long-tail specialty business, with capacity allocated to a selected book of casualty reinsurance, political risk and trade credit.
Asta has been appointed as managing agent for Syndicate 1987, while Allison Hollern, Convex’s head of Financial Institutions, is set to take the role of active underwriter.
Convex Group CEO Paul Brand said: “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.
“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.”
Asta CEO Lorraine Harfitt added: “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.”
In the previous year, Convex Group received in-principle clearance to enter the Lloyd’s market through Syndicate 1984. Asta is also the managing agent for that syndicate.
Syndicate 1984, which began underwriting in April 2025, provides reinsurance for Convex alongside a diverse portfolio of international specialty lines including property, marine, energy and casualty risks.
