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Convex valued at $7bn in Onex balance sheet deal, with AIG investment
Onex’s own balance sheet will become a 63% owner and AIG takes a 35% stake.
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The upgrade reflects consistent outperformance of “higher-rated peers”, S&P said. -
The fundraising structure for the deal includes a $600mn Convex debt raise.
Latest News
Latest news
A roundup of all the news you need, including our interview with Starr co-CEO Jeff Greenberg.
The broker said it was on track to hit its financial goals despite macro uncertainty.
The revised outlooks reflect the difficult moment as Everest moves away from retail.
In insurance, premium growth came from all lines of business except cyber.
Opinion
Featured and most read
Featured and most read
Featured
Pressures mount for 2026, but London rate falls still stable on 2025 trends
Brokers may encourage clients to capitalise on falling rates by boosting coverage.
Most read
Analysis
Analysis
Private capital providers are being signed down as two strong years have piqued interest.
Reinsurers are willing to concede on pricing, while cyber interest is on the rise.
Part five in our series looks at how AI can empower brokers to add value as well as speed.
Insurance grad vacancies were down 18% year-on-year in the UK, ahead of a 3% nationwide drop.
Interviews
Interviews
The syndicate says it will not set any top-line targets on digital follow strategies.
The CEO said that IGI’s action within its PI book showed it was ready to walk away from unprofitable business.
The European broker said a London wholesaler is the ‘missing piece’ of its strategy.
The MGA is also looking to build out its US mid-market professional liability expertise.
Behind the Headlines
Behind the Headlines is a fortnightly podcast hosted by Insurance Insider's senior reporter Sam Casey.
Get the inside scoop on the major stories shaping the London market through discussions with the journalists who broke them. Plus, hear from industry professionals on what these developments mean for the (re)insurance sector.
IoA
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In Partnership with
FurtherAI
AI has shifted from a theoretical discussion to having a real impact across the entire insurance value chain, said Aman Gour, Founder and CEO, FurtherAI.
In Partnership with
Allianz
Use of technology is likely to separate the “leaders from the laggers” in the MGA/program business space, said Shanil Williams, CEO, Allianz Commercial, Americas.
In Partnership with
Arch
Property remains both a challenge and an opportunity for insurers, said Brian Farrell, SVP Program Management Lead, P and C Programs, Arch.
In Partnership with
Falvey Insurance Group
MGAs need to remain focused to succeed, said Emmy Falvey, Senior Vice President, Head of Capacity, Falvey Insurance Group.
In Partnership with
Swiss Re
The global construction industry continues to expand, says Jimmy Keime, Head of Engineering and Nuclear, for Swiss Re.
MultiStrat, the founder of casualty ILS, is focusing on committed capital to grow, said Bob Forness, CEO, MultiStrat.
In Partnership with
Swiss Re
Ahead of the upcoming Baden-Baden Reinsurance Meeting, top of mind for many are climate, economy and geopolitics, says Nikhil da Victoria Lobo, Head of P and C Reinsurance for Western and Southern Europe and Middle East and Africa for Swiss Re.
In Partnership With
M&A Services
The explosive growth of the E&S market, coupled with higher seller valuations, is driving a steady stream of carrier M&A activity, said Jason Murgio, Principal & CEO and Paul Procops, Vice President, of boutique insurance investment bank Merger & Acquisition Services.
In Partnership with
Allianz
“That’s what we live for,” said Darren Tasker, Head of Construction, North America, Allianz Commercial, emphasizing the deep expertise needed to navigate multi-billion-dollar data center construction projects and deliver tailored, comprehensive insurance coverage.
From cat losses from wildfires and hurricanes to litigation battles to the shifting commercial insurance landscape — these are the stories that defined our industry in the last 12 months.
In celebration of Insurance Insider US Honors Awards, please enjoy our Year in Review video.
Conferences & awards
Upcoming webinars
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In Partnership With Markel
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In Partnership with Moody's
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In Partnership with M&A Services
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From our other titles
From our other titles
From Insurance Insider US
September cat heatmap: Light at the end of the hurricane season tunnel
A large number of new entrants and the growth of litigation finance challenge E&S enthusiasm.
From Insurance Insider ILS
Postcard from Bermuda: ILS sector anticipates delivering three strong years
The P&C industry reported its best Q2 combined ratio since 2021, but was still a loss-making underwriting result.
From Insurance Insider US
Q3 early read: Soft market monster gets closer
MGAs outpaced the P&C industry for years, but growth has begun to stagnate.
From Insurance Insider ILS
Cat bond spreads face pressure as market deals with abundant capital
Inflation indices fell in April, but some items related to P&C are still elevated.
