Convex Group Ltd., an international specialty insurance and reinsurance company, announced that its co-founder Stephen Catlin has decided to resign as Chairman of the Board of Directors.
He will continue to serve as a director and be elevated to the honorary titles of Founder and Lifetime President to reflect the meaningful contributions he has made to Convex since its inception.
Bobby Le Blanc, CEO of major shareholder Onex, who has been on the board of Convex since its inception in 2019, has been appointed chairman.
In a deal first announced in October 2025 and completed last month, Onex acquired a 63% stake in Convex for approximately $3.8 billion, while AIG acquired a 35% stake in Convex for approximately $2.1 billion. The balance belongs to the Convex management team.
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As founder and lifelong president, Convex said Catlin will continue to provide strategic counsel to the board of directors, provide guidance to the executive leadership team, serve as an ambassador for the company’s global initiatives and manage its long-term mission and values.
Catlin will also continue to be actively involved in philanthropic and industry partnerships that reflect Convex’s values.
“Stephen’s contribution to Convex’s success and the insurance industry is immeasurable. He has been a colleague, mentor and friend of mine for nearly 40 years,” Convex CEO Paul Brand commented in a statement.
“He built two globally renowned insurance businesses and played an integral role in securing Convex’s long-term independent future following the recapitalization of Onex and AIG. I can say that we will miss him, but he will remain actively involved in our business,” continued Brand, who co-founded Convex with Catlin. “He will also continue to lead our engagement with the Convex Seascape Survey and several other sustainability initiatives.”
“I’m extremely proud of what Convex has accomplished over the past seven years. Building another global airline in a quarter of the time it took to build the first is no small feat,” said Catlin. “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.”
Bobby Le Blanc said: “I am extremely honored to have been asked to become Chairman of Convex. I look forward to Stephen’s continued provision of wise counsel, 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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