Convex Group Ltd. on Friday reported a 12% year-over-year rise in net profit for the second quarter of 2026, topping market forecasts as underwriting margins expanded and investment income strengthened.
The specialty insurer said net profit reached $245 million in Q2 2026, up from $219 million in the same period a year earlier. Revenue grew 8% to $1.34 billion, driven by higher premium volumes in property and casualty lines, particularly in North America and Europe.
Underwriting margins improved to 14.2%, compared with 12.8% in Q2 2025, reflecting disciplined pricing and lower claims in key segments. Investment income rose 15% to $89 million, supported by gains in fixed-income and equity portfolios amid stable market conditions.
Analysts surveyed by Refinitiv had expected net profit of $225 million and revenue of $1.31 billion for the quarter. Shares in Convex Group were up 3.2% in early London trading following the results.
Chief Executive Officer Stephen Catlin said the results demonstrated the company’s resilience in a competitive market, with continued focus on underwriting discipline and selective growth in high-margin segments.
Convex Group, which listed on the London Stock Exchange in 2022, operates primarily in specialty insurance and reinsurance, serving corporate and commercial clients globally.
