Convex Group, the specialty insurance and reinsurance start-up launched by Stephen Catlin, has hired Anne Middleton as its new Head of Ceded Reinsurance and Capital Modelling.
Convex was launched this year after a successful $1.8 billion capital raise from investors and securing an A- rating for its underwriting vehicles Convex UK and Convex Re, Bermuda.
The firm has made numerous hires of high-profile executives as it puts together its team, with one of the latest to come to light being a new executive to take charge of reinsurance purchasing at Convex.
Anne Middleton had most recently worked at AXA XL as Global Head of Placements, Ceded Reinsurance, a key role at the group that saw her managing reinsurance placements globally, taking responsibility for reinsurance program terms, structure and pricing.
Of course, given the way global reinsurance works today, no program for a major company lacks an element of collateralised or insurance-linked securities (ILS) backed protection.
At AXA XL Middleton will also have interacted with the firms third-party capital initiatives, as reinsurance purchasing is so intrinsically tied to other cessions to investors these days.
Middleton joined Convex Group in July, the company confirmed to us today, and is based in London.
Her career saw her begin in reinsurance as a consultant at PwC in 2007, before moving to Catlin in 2012 as an actuary and then moving to the role of Head of Group Fnancial Planning.
Middleton then became Head of Finance, Global Energy, Property & Construction at XL Catlin in 2015, before finally moving into the Global Head of Placements, Ceded Reinsurance role in 2017, soon after which the firm merged into insurance giant AXA to become AXA XL.
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