US Property Treaty

Sam Ashard

Product Leader, US Property Treaty

I joined Convex after 14 years in the industry including 4 years in a very similar role. The appeal for me was that our management team has an underwriting background. They’re very respected in the industry, too: they worked hard to build up a reputation for paying claims fairly and quickly, acting thoughtfully and responding fast to changes in circumstances without exposing clients or brokers to unpleasant surprises.

They also had a clear idea of the kind of business and culture they wanted to create: collaborative, with no internal competition. We’re all incentivised to make the right decision for the company, even if it shrinks our own book of business. Everyone trusts and respects each other, and we work to build that trust with our clients and brokers.

Who we do business with

We work mainly with commercial or homeowner property insurers that are domiciled in the US (with a focus on Florida and California). They can vary from single-state mutuals to big multinationals that are looking to cover their CAT, risk and pro-rata exposures.

Our main concern is that they understand the importance of reinsurance and share our willingness to build a positive, lasting relationship that benefits us both. We also look for cedents that have good-quality data, are transparent and know how to behave after a loss.