Convex Group Limited, the biggest insurance start-up in Bermuda’s history, has named its Bermuda and UK chief executive officers.

Matt Paskin will head Convex Re in Bermuda, while Theo Butt will lead Convex Insurance UK.

The international specialty insurer and reinsurer said today that the positions were previously held by Paul Brand, who founded Convex with Stephen Catlin.

Mr Brand, group deputy CEO, remains on the board of the Convex, Convex Re and Convex Insurance UK.

The appointments are subject to regulatory and immigration approvals.

Mr Paskin has more than 35 years of industry experience and has been group chief underwriting officer, reinsurance since Convex launched in May 2019, a role he will retain. He was previously chief underwriting officer of XL Catlin Re, having joined Catlin in 1993 as a class underwriter and held multiple roles during his career there.

Mr Butt has more than 20 years’ experience in the London market and joined Convex as a consultant in April 2020 to lead a number of special projects within the business.

Prior to this he was CEO of Neon Underwriting Ltd, having joined from Ascot, where he spent over 12 years in multiple roles latterly as head of non-marine within their executive underwriting team. Mr Butt has also held a variety of roles at Marsh and JLT.

Mr Brand said: “We launched Convex to be the insurance company of the future; an innovative insurance partner that challenges the status quo by putting fairness and honesty at the centre of our singularly client-focused proposition.

“Our success in achieving this is dependent on the people we work with and we are lucky to have exceptional individuals such as Matt and Theo leading the teams in Bermuda and London.

“Matt is a highly respected member of the Convex team and has played a key role in our formation and development to date. His experience and understanding of the market make him the natural candidate to take on the role of CEO of our Bermuda operations.

“Theo is well regarded in the London market and embodies the ethos and values that Convex is built on. He has made a great contribution to the company since he joined in April and has the skill set, expertise and understanding to lead Convex’s London operations.

“It’s an exciting time for Convex and I look forward to continue working with Theo and Matt in their new roles as we continue to grow the business.”