Paul Brand is the new chief executive officer of the Convex Group.

Mr Brand founded the business in 2019 with Stephen Catlin, and has been deputy CEO since then.

Stephen Catlin, executive chairman, said he was delighted at the appointment.

“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,” Mr Catlin said.

“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.”

Bobby Le Blanc of Onex Partners said: “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 while benefiting from Stephen and Paul’s continuing partnership. We fully expect that they will deliver value to shareholders over time and Onex Partners thoroughly endorses the board’s decision.”