AIG completes deal for Convex minority stake
AIG has completed the acquisitions of strategic minority ownership stakes in specialty insurer and reinsurer Convex Group and global asset manager Onex Corporation.
Following regulatory approvals AIG now owns an approximately 35% equity interest in Convex (worth approximately $2.1bn or £1.54bn), and a 9.9% ownership stake in Onex (worth approximately $642m or £472m).
In conjunction with AIG’s investment in Convex, founding investor Onex has become the majority shareholder in Convex with a 63% ownership interest.
This is a milestone for Convex. The transaction heralds the next phase of our development.Paul Brand
Prior to the deal Convex’s founding equity
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Commercial
Watch brokers discuss whether MGAs are outmanoeuvring insurers in commercial combined
Commercial combined remains one of the most complex and relationship-driven areas of the insurance market, yet brokers increasingly report frustration when placing non-standard or emerging risks.
Q&A: Pen’s Nick Wright
Nick Wright, chief business development officer at Pen Underwriting, tackles its recent M&A quietness, capacity in the market and the benefits to brokers from niche products. He updates on the goal of hitting £1.75bn GWP by 2030, streamlining its agency base and shares why he thinks the Gallagher-owned MGA will “go from strength to strength”.
Ex-Howden boss heads team of 14 at new cyber broker
Sodalis Capital, the recently created investment venture focused on international insurance intermediaries, has launched its first broking start-up in Brecon Specialty.
Pen launches into mid-market PI
Pen Underwriting has launched into the UK mid-market professional indemnity space, Insurance Age can reveal.
Allianz transfers 12 strong team after agreeing MGA deal
Allianz Commercial has entered into a strategic agreement with MGA Reel Media, a wholly owned subsidiary of Paragon Insurance Holdings, to create a new partnership in the global entertainment insurance market.
MBP strikes first deal of 2026 with RAW investment
Minority Broker Partnerships has acquired a minority stake in RAW Insurance Brokers, a Carlisle-based commercial insurance brokerage specialising in construction, agricultural and SME business insurance.
News analysis: Will NCDs for fleets catch on, and what does the future hold for the CV sector?
Last year, Zurich Insurance announced it was enhancing its SME e-trade fleet offering by accepting no claims discount (NCD) claims history in response to broker demand. Saxon East examines the ramifications of this move – and explores other dynamics shaping the CV market in 2026 and beyond.
H&H promotes Kally Shane to lead insurance business
Kally Shane has been promoted to head of H&H Insurance Brokers having progressed through the business in increasingly senior roles after joining as a trainee 16 years ago.