Convex appoints new CIO

Specialist insurer Convex has announced former GAM Investment staffer as its new Chief Investment Officer.

Convex Logo Edited (1) @ConvexInsurance.
Relative newbie to the scene, Convex, hires a new CIO.

David Dowsett, the former Global Head of Investments at GAM Investments, has joined Convex Insurance as its new Chief Investment Officer (CIO).

Dowsett has been with GAM for around 18 months, joining in April 2022. He announced his resignation last year amidst a senior management reshuffle.

Previous to his time at GAM, Dowsett spent nearly 18 years at RBC BlueBay Asset Management in positions including Head of Emerging Markets and Co-CIO.

Convex was launched in April 2019 with $1.6 billion in committed capital and operates as an international specialty insurer and reinsurer. It was founded by industry stalwarts Stephen Catlin and Paul Brand. It is headquartered in Bermuda, with offices in London, Guernsey, and Luxembourg.

Convex’s investment returns for year ending 31 December 2023 were $240.4 million, an increase from a loss of $107 million in 2022, which they said was due to strong core fixed income returns, driven by high starting yields on the portfolio and a fall in risk–free yields during the last quarter.

The news of his move was broken by Citywire and confirmed by Dowsett’s LinkedIn profile. Convex has not issued a press release on the matter.

Other new CIOs this year include MAPFRE's Juan Bernal and Thomas Leone at Sompo International.