Bermudian-based Convex Re Limited has appointed Paul Simons as deputy chief executive officer and has promoted Richard Slater to chief underwriting officer.

Both will assume their roles this month and will be based on the island.

They will report to Matt Paskin, Group CUO Reinsurance and CEO of Convex Re Limited.

The company said Mr Simons brought his outstanding reputation and more than 25 years of experience in the Bermudian reinsurance market to Convex.

He joins from Axa XL, having previously worked for its predecessor companies XL Catlin, XL Re and XL Mid Ocean.

Since 1994, Mr Simons has held a number of senior industry positions, most recently as CEO of Bermuda Reinsurance Axa XL.

Mr Slater joined Convex in 2019 as product leader of international property treaty, having amassed more than 25 years of experience in the global reinsurance market.

Before joining Convex, he held a number of senior positions in the retro, ILS and international property treaty markets for companies such as Brit’s Sussex ILS fund, XL Catlin, Montpelier Re and Ace Tempest Re.

Mr Slater started his career at Lloyd’s in 1996 before relocating to Bermuda in 2002. He replaces Ben Savill, who, due to family commitments, will be leaving Bermuda and moving to Australia.

Mr Paskin said: “From the outset, Convex’s success has been determined by our values and our people, Paul and Richard exemplify these values.

“Paul has an impressive reputation and is an undisputed leader on the island. His extensive experience and insight will be invaluable as we continue to fulfil the promise we made to become a world class company for the 2020s, delivering exceptional client service. We welcome him to the team.”

He added: “Since joining in 2019, Richard has made tremendous contributions to Convex including developing our international property treaty class of business into the leading team it is today.

“Through his comprehensive skill set and vast underwriting experience I am confident that Richard will continue to play a significant role in Convex’s success. This is a well-deserved promotion.

“I’d also like to say a huge thank you to Ben for his outstanding contribution to Convex in Bermuda.”