"Onex Corporation and AIG Acquire Convex in $7 Billion Deal with Latham & Watkins Advising"

"Latham & Watkins advised Onex Corporation on its acquisition of Convex, a specialty property and casualty (re)insurer, in partnership with American International Group (AIG). Onex will hold a 63% stake in Convex, while AIG will own 35%, with the remaining shares retained by Convex's management team. The deal values Convex at $7 billion. Latham's team provided legal counsel across various areas, including insurance, financial regulation, tax, and antitrust matters."

Latham & Watkins LLP advised Onex Corporation, an alternative asset manager, on its acquisition of Convex, a leading specialty property and casualty (re)insurer, alongside American International Group (AIG). The transaction involves Onex and AIG acquiring Convex, with Onex owning approximately 63% and AIG owning approximately 35%, while the remainder is held by the Convex management team. The acquisition values Convex at US$7 billion, representing 1.9x Q3 2025 tangible book value. The Latham team was led by London partners Neil Campbell and Michael Bond, New York partner Matthew Chase, and Chicago partner Dan Breslin, with associates Nick Fisher, Zaal Cyrus Cama, John Welling, Nick Boulter, and Manaal Ali. Insurance regulatory advice was provided by London counsel Tim Scott and New York counsel Alexander Traum. Financial regulatory matters were handled by London partner Nicola Higgs, with associate Ella McGinn. Tax advice was provided by London partner Sean Finn and New York partner Alan Kimball, with associate Abi Abbot. Antitrust matters were addressed by New York partner Kate Rocco, London partner Gregory Paul Bonné, and Brussels partner Tomas Nilsson, with associates Josephine Macintosh and Jamie Sadler.

"Onex Corporation and AIG Acquire Convex in $7 Billion Deal with Latham & Watkins Advising"

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