Canadian asset manager Onex said on Thursday it has teamed up with U.S.-based insurer AIG to buy privately held specialty insurer Convex Group in a $7 billion deal. Dealmaking has made a sharp ...

Convex chairman Stephen Catlin said that a key advantage for the carrier in striking its $7bn buyout with Onex and AIG was that it takes it from having 10-year private equity money to having “as close ...

Convex is delivering an attractive 18% RoE now after its ramp-up phase through the insurance J-curve, but these are high watermark returns. Growth is also set to slow from its current 15%-17%, ...

Onex will acquire 63 per cent of Convex, AIG will own 35 per cent and the Convex management team will own the rest of the company’s shares. Convex is a property and casualty insurance and reinsurance ...

The dual investment comes on the heels of AIG’s separate $2 billion acquisition deal with reinsurance company Everest Group.

AIG intends to obtain a 35% equity stake in Convex Group for around $2.1bn, as well as a 9.9% stake in Onex Corporation for about $646m.

As part of the deal, AIG has agreed to acquire a 9.9 percent stake in Onex’ subordinate voting shares, concurrent with the closing of the Convex acquisition, for proceeds totaling around $0.6 billion.

All amounts in U.S. dollars unless otherwise stated TORONTO, Oct. 30, 2025 (GLOBE NEWSWIRE) -- Onex Partners announced today an agreement by ...

American International Group to partner with Onex in US $7B acquisition of Convex Group, to acquire 9.9% stake in Onex and to invest US $2B in Onex ...

Convex Group Limited announced a “new, long term ownership structure led by Onex Corporation, with American International Group, Inc. [“AIG”] becoming a strategic minority equity investor in Convex.” ...

AIG’s Q3 2025 earnings reveal strong growth, strategic deals, and tech-driven efficiency—see how these moves position AIG for higher returns.

C anadian private-equity firm Onex is teaming up with American International Group to buy privately-held property and casualty insurer Convex for $7 billion. The move will leave AIG with minority ...