AIG and Onex AM partner up to take the reins of global re/insurer Convex

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  "detected_at": "2025-11-06T00:00:00+00:00",
  "company": {
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    "domain": "aig.com"
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  "data": {
    "url": "https://www.bermudareinsurancemagazine.com/aig-and-onex-am-partner-up-to-take-the-reins-of-global-reinsurer-convex",
    "title": "AIG and Onex AM partner up to take the reins of global re/insurer Convex",
    "excerpt": "AIG and Onex AM partner up to take the reins of global re/insurer Convex.\n\nInsurer AIG is partnering with Canadian asset manager Onex to acquire global specialty re/insurer Convex. AIG will secure underwriting profits through a comprehensive quota share agreement, while majority ownership of Convex will go to Onex. To support this, AIG will provide new assets under management and take an equity stake in Onex, helping to finance Onex's purchase.\n\n\"This is a very unique opportunity to invest in a top-performing global specialty company that we believe will drive incremental earnings growth for AIG,\" CEO Peter Zaffino said of the deal, citing \"confidence in Convex's ability to consistently deliver outstanding results, strong returns and sustained revenue growth.\"\n\nAs the deal unfolds, AIG will take a 35% stake in Convex for $2.1 billion and Onex will take 63% for $3.8 billion, leaving the fractional rump share in the hands of management. AIG will back the Onex purchase by acquiring a 9.9% equity stake in Onex for $600 million and by committing $2 billion to Onex's private equity and credit strategies over the coming three years.\n\nOnex is no stranger to Convex, having participated in the 2019 founding of the group hand in hand with industry veterans Stephen Catlin and Paul Brand. A $700 million rollover of Onex's lingering stake is calculated into the price tag. The $3.1 billion...",
    "summary": "American International Group, Inc. partners with Onex Corp.",
    "category": "partners_with",
    "found_at": "2025-11-06T00:00:00Z",
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    "image_url": "https://cdn.bermudareinsurancemagazine.com/convert/files/2025/11/01c10ef0-bb2c-11f0-9aa2-99dcfe609230-Peter%20Zaffino_AIG_Stephen%20Catlin_Convex_Shutterstock.com_1378030559Viktor%20Hladchenko.jpg/r%5Bwidth%5D=1280/01c10ef0-bb2c-11f0-9aa2-99dcfe609230-Peter%20Zaffino_AIG_Stephen%20Catlin_Convex_Shutterstock.com_1378030559Viktor%20Hladchenko.jpg",
    "confidence": 0.7739,
    "published_at": "2025-11-06T00:00:00Z",
    "article_sentence": "Insurer AIG is partnering with Canadian asset manager Onex to acquire global specialty re/insurer Convex."
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