Convex Insurance is a Bermuda-based international specialty insurer and reinsurer, founded in 2019 and rapidly growing to become a significant player in the global market, with operations in Bermuda, Europe, and the US. It openly promotes its expertise in the energy sector, including upstream oil and gas, transportation, and refining. While bowing to activist pressure in 2022 by committing not to insure new thermal coal mines, this policy is a limited “baby step,” as noted by campaigners. The exclusion does not extend to new coal plants, coal companies, or crucially, the entirety of the oil and gas sector. By continuing to underwrite new oil and gas ventures, Convex directly enables fossil fuel expansion.