AIG to partner with specialty insurer Convex and asset manager Onex in $5 billion deal

• AIG is investing nearly $5 billion in specialty insurer Convex Group and asset manager Onex Corporation and its investment funds, a move insiders say reflects CEO Peter Zaffino’s drive to transform the legacy insurer into a more agile, capital-aligned powerhouse.

AIG is set to make a multibillion-dollar investment in the specialty insurer Convex Group and asset manager Onex Corporation. The multi-pronged deal remains under regulatory review and is expected to close in the first half of 2026.