AIG & Onex enliven sluggish insurance M&A scene

Canadian-based private equity company Onex and American insurance giant AIG have partnered to acquire specialty insurer Convex. 

The deal, worth $7 billion, sets out that Onex will own 63% and AIG will own 35% of the business, with the remaining 2% owned by the Convex management team.

M&A market looking sluggish

The deal will make up for a relatively sluggish year for mergers and acquisitions (M&A) activity in the insurance industry.

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