AIG in its strategic investments of $2.2 billion in Convex Group and $640 million in Onex Corporation

On October 30, 2025 American International Group, Inc. (NYSE: AIG) announced strategic investments to acquire a 35% equity interest in Convex Group Limited, a privately held, global specialty insurer, and a 9.9% equity interest in Onex Corporation (TSE: ONEX), a global asset manager, for a total purchase price of $2.75 billion.  Onex will also be acquiring a majority interest in Convex at a valuation of $7 billion.  AIG has agreed to participate in Convex’s underwriting through a whole account quota share reinsurance arrangement and to invest up to $2 billion in Onex investment funds.  The creatively structured transaction will provide AIG with strategic opportunities both to participate in the growth of a top-performing global specialty company and to invest in high-performing investment funds.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to AIG.