AIG becomes strategic investor in top 10 UK insurer
AIG has taken a 35% equity investment in Convex and Onex Corporation has reinvested as a majority shareholder with a 63% stake.
Convex’s founding equity investors, including Onex’s Partners V private equity fund, will sell their equity stakes in full. The investment values the international specialty insurer and reinsurer’s common equity at $7.0bn (£5.31bn).
AIG noted its 35% equity interest in Convex Group would cost approximately $2.1bn (£1.6bn).
In addition to its equity investment, AIG will write a whole account quota share of Convex’s business from 1st January 2026. AIG will also acquire a 9.9% ownership stake in the
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