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 ...

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 ...

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%, ...

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 ...

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 ...

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 ...