Onex completes acquisition of Convex Group in partnership with AIG
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Monthly Digital Subscription
$1 per week for 24 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $4.00 plus GST every four weeks. After 24 weeks, price increases to the regular rate of $19.95 plus GST every four weeks. Offer available to new and qualified returning subscribers only. Cancel any time.
Monthly Digital Subscription
$4.99/week*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Billed as $19.95 plus GST every four weeks. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
*Your next subscription payment will increase by $1.00 and you will be charged $16.99 plus GST for four weeks. After four weeks, your payment will increase to $23.99 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
TORONTO – Onex Corp. says it has completed its deal to buy Convex Group Ltd., a specialty property and casualty insurance and reinsurance business, in partnership with American International Group Inc.
The US$7 billion deal was initially announced in October of last year and will see Onex own about 63 per cent of Convex, while AIG will own 35 per cent and the Convex management team will own the rest.
As part of the deal, AIG acquired a 9.9 per cent stake in Onex and will commit US$2 billion to strategies managed by Onex over a three-year period.
Onex CEO Bobby Le Blanc says in a news release that the acquisition positions the Toronto-based private equity firm for earnings growth.
The company says Convex will become a core platform and is expected to generate meaningful recurring net income and free cash flow to shareholders.
Onex was a founding investor in Convex in 2019 through one of its buyout funds.
This report by The Canadian Press was first published Feb. 6, 2026.
Companies in this story: (TSX:ONEX)