Convex Group Limited, an international specialist insurance and reinsurance company, has announced that Stephen Catlin will resign as Chairman of the Board but will remain as a Director.
Catlin, who has been awarded the honorary title of Founder and President for Life, will continue to provide strategic counsel to the Board of Directors and guide the executive leadership team, as well as serve as an ambassador for the company’s global initiatives and manage its long-term mission and values. He will also continue to be actively involved in philanthropic and industry partnerships that reflect Convex’s values.
In April 2019, Catlin co-founded Convex Group Limited and served as CEO until June 2022, when he became executive chairman.
Bobby Le Blanc, CEO of major shareholder Onex, who has been a director on the company’s board since its inception in 2019, has been appointed chairman.
Paul Brand, CEO of Convex, said: “Stephen’s contribution to Convex’s success and the insurance industry is immeasurable. He has been a colleague, mentor and friend for nearly 40 years. He built two of the world’s leading insurance businesses and, following the recapitalizations of Onex and AIG, secured Convex’s He has played an integral role in our long-term independent future. I can say that we will miss him, but he will continue to be actively involved in our business. He will also continue to lead our participation in the Convex Seaview Survey and several other sustainability initiatives.”
Catlin added, “I’m incredibly proud of what we’ve accomplished at Convex over the past seven years. Building another global carrier in a quarter of the time it took to build the first is no easy task. But Convex would not exist without the incredible team around me or our market partners. I look forward to continuing to help grow the business while supporting the next generation of leadership as we continue to redefine the direction of insurance in an ever-changing world.”
Le Blanc said: “I am extremely honored to have been asked to become Chairman of Convex. I look forward to Stephen’s continued sound advice, guidance and friendship; he is an industry leader who has helped lead Convex on an extraordinary journey since its inception. He is a legend in the insurance community and I am delighted that he has agreed to remain on the Board. He has helped create tremendous value for Convex and Onex and shareholders and will continue to help develop our market leadership position.”
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