Onex Completes Acquisition of Convex and Strategic Investment by AIG.

Onex Corporation has completed its acquisition of Convex Group Limited, a specialty insurance and reinsurance company, for $7 billion in partnership with American International Group. Convex will become a core platform for Onex and is expected to generate recurring net income and free cash flow for shareholders. Onex and AIG own approximately 63% and 35% of Convex, respectively, with the balance owned by the Convex management team.