Onex Completes Acquisition of Convex Group in Partnership With AIG
February 6, 2026
Onex completed its previously announced $7 billion acquisition of Convex Group Limited, establishing a new ownership structure in which Onex holds about 63% of Convex. American International Group (AIG) simultaneously acquired a minority 35% stake in Convex and took a 9.9% ownership position in Onex, alongside starting a whole-account quota share participation in Convex underwriting from Jan. 1, 2026.
- Buyers
- Onex Corporation, American International Group, Inc. (AIG)
- Targets
- Convex Group Limited (Convex)
- Sellers
- Convex management team, Onex Partners V entities (Onex directors/senior officers held limited partnership units; treated as related-party downstream transactions)
- Platforms
- Onex Corporation
- Industry
- Insurance
- Location
- Canada
- Transaction Type
- Buyout
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