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 from
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 Insight
Regional open market book key growth area for 2026 – Hiscox’s Walker
Stewart Walker, broker development manager at Hiscox UK, has highlighted up to four large schemes deals for the first half of the year, and how the regional open market book is a key growth area.
MoneySuperMarket claims UK first with insurance ChatGPT app
MoneySuperMarket, has launched a financial services and price comparison service ChatGPT app, claiming it is the first in the UK and flagging the impact on motor insurance.
QBE International posts double digit premium growth
QBE International’s combined operating ratio improved again to 88.5% last year as the division, in which the UK sits, grew premium 12.6%.
QBE divests arm with UK business to Swiss Re
QBE has entered into an agreement to divest its global trade credit and surety business to Swiss Re Corporate Solutions, the commercial insurance arm of the Swiss Re Group.
People Moves: 16 – 20 February 2026
Keep up to date with the latest personnel moves in insurance.
Broker Diversity Push: FOI stats show subtle improvements in broking leadership gender balance
The latest data from the Financial Conduct Authority obtained by Insurance Age via a Freedom of Information request has shown small improvements in five out of six key SMF approved functions.
Aviva secures naming rights for new 20,000 capacity Bristol concert venue
A new 20,000 capacity indoor entertainment arena in Bristol will be known as the Aviva Arena, it was announced today.
Mabb moves to advisory role as Webb named RMD of Romero
Regional managing director of Romero, Simon Mabb, will switch to an advisory role at Gallagher being succeeded by ex-Marsh leader Jonathan Webb.