Convex reveals GWP approaching $6bn and profit growth for 2025 in run-up to AIG deal
Convex Group grew gross written premium by 14% in 2025 to $5.88bn (£4.35bn) as it made a net profit for the third year in a row ahead of sealing investment from AIG.
The international specialty insurer and reinsurer’s combined operating ratio deteriorated year-on-year from 87.3% to 89%.
However its net income jumped just over 40% to $711m.
AIG took a 35% equity investment in Convex, and Onex Corporation reinvested as a majority shareholder with a 63% stake in a deal that was announced last October and completed earlier this month. The deal valued Convex at $7bn.
AIG also snapped up a 9.9% holding in global asset manager Onex (worth approximately $642m) and
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