Convex Group Limited
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Convex Group Limited - overview
Established
2019
Location
Hamilton, -, Bermuda
Primary Industry
Insurance
About
Based in Hamilton, Bermuda, and founded in 2019, Convex Group Limited offers international specialty insurance and reinsurance services as well as digital risk management solutions. The company was founded by Stephen Catlin and Paul Brand. In June 2023, Reserv, Inc. raised USD 15.
15 million in Series A funding co-led by Altai Ventures and Bain Capital, with participation from other investors Arch Capital Group and AXIS Capital. Convex Insurance offers a variety of insurance products, including international specialty insurance and reinsurance, digital risk management solutions, directors and officers liability, professional indemnity, crime insurance, and accident and health insurance.
Current Investors
GIC, Onex, Public Sector Pension Investment Board
Primary Industry
Insurance
Sub Industries
Insurance Intermediaries, Reinsurance
Website
www.convexin.com
Company Stage
Mature - Growth Capital
Total Amount Raised
Subscriber access only
Convex Group Limited - timeline of key events
Convex Group Limited - financials
| Fiscal Year Ended | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 |
|---|---|---|---|---|---|
| Revenue (USD) | 7,477,000 | 374,875,000 | - | - | - |
| % Revenue Growth (YoY) | - | 4913.7% | - | - | - |
| EBITDA (USD) | (37,283,000) | (172,773,000) | - | - | - |
| Operating Income (USD) | (39,634,000) | (178,596,000) | - | - | - |
| Operating Margin | (530.1%) | (47.6%) | - | - | - |
| % EBITDA Margin | (498.6%) | (46.1%) | - | - | - |
| NET Income (USD) | (38,257,000) | (179,263,000) | - | - | - |
| % Net Margin | (511.7%) | (47.8%) | - | - | - |
Convex Group Limited - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Secondary Buyout | Completed | Convex Group Limited | - | ||||||||
| Growth | Completed | Convex Group Limited | - | ||||||||
| Growth | Completed | Convex Group Limited | - | ||||||||
| Buyout | Completed | Convex Group Limited | - |
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Convex Group Limited - employee data
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