Convex
Convex, officially known as Convex Insurance, is a prominent player in the global insurance industry, headquartered in Bermuda (BM). Founded in 2020, the company has quickly established itself as a leader in specialty insurance and reinsurance, focusing on innovative solutions tailored to complex risks. With a strong operational presence across North America, Europe, and Asia, Convex offers a diverse range of products, including property, casualty, and marine insurance. What sets Convex apart is its commitment to leveraging advanced technology and data analytics, enabling more efficient underwriting and risk assessment. The company has achieved significant milestones in a short span, including rapid growth in its client base and recognition for its customer-centric approach. As a result, Convex has positioned itself as a trusted partner in the insurance market, known for its agility and expertise in navigating evolving industry challenges.
DitchCarbon Score
How does Convex's carbon action stack up? DitchCarbon scores companies based on their carbon action and commitment to reducing emissions. Read about our methodology to learn more.
Industry Average
Mean score of companies in the Insurance Services industry. Comparing a company's score to the industry average can give you a sense of how well the company is doing compared to its peers.
Industry Benchmark
Convex's score of 21 is lower than 79% of the industry. This can give you a sense of how well the company is doing compared to its peers.
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Convex's reported carbon emissions
In 2024, Convex reported total carbon emissions of approximately 2,710,000 kg CO2e, a slight decrease from about 2,735,000 kg CO2e in 2023. The emissions data for 2024 does not specify the breakdown into Scope 1, 2, or 3 categories. However, in 2022, Convex disclosed emissions of 4,958,000 kg CO2e, with Scope 1 emissions at 46,000 kg CO2e, Scope 2 emissions at 140,000 kg CO2e (market-based), and Scope 3 emissions predominantly from business travel at 4,957,000 kg CO2e. Convex has not set specific reduction targets or initiatives as part of their climate commitments, nor do they appear to have cascaded data from a parent organisation. The company is actively monitoring its emissions and has reported an emission intensity of 11,180 kg CO2e per full-time equivalent (FTE) for 2023, indicating a focus on improving operational efficiency. Overall, while Convex has made some progress in reducing its emissions, further commitments and structured reduction targets would enhance its climate strategy.
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| 2021 | 2022 | |
|---|---|---|
| Scope 1 | 35,000 | 00,000 |
| Scope 2 | 74,000 | 000,000 |
| Scope 3 | 857,000 | 0,000,000 |
Industry emissions intensity
Location emissions intensity
Reduction initiatives & disclosure networks
Companies disclose and commit to reducing emissions to show they are serious about reducing emissions impact over time. They can also help a company track its progress over time.
Convex is not participating in any of the initiatives that we track. This may change over time as the company engages with new initiatives or updates its commitments. DitchCarbon will update this information as it becomes available.
