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15 May 2026 12:12
Q1 2026 financial results
HAMILTON, BERMUDA, 15 May 2026
Convex Group Limited ("Convex"), the international specialty insurer and reinsurer, today announces its financial results for the first quarter of 2026. These figures were included in the results announcement made by Onex Corporation (TSX:Onex) today and can be viewed here: https://www.onex.com/news-releases.
Key highlights | Q1 2026 (million) | Q1 2025 (million) | Change |
Gross premium written | $2,166 | $2,060 | $106 |
Net written premium | $1,314 | $1,446 | ($132) |
Net premium earned | $914 | $916 | ($2) |
Underwriting result | $121 | ($117)** | $238 |
Net income to common equity | $106* | ($8) | $115 |
Combined ratio | 86.8% | 112.8% | (26.0%) |
*excluding one off transaction costs of $41m related to the Onex and AIG acquisition
** mainly due to losses incurred by California wildfires
Further information can be found on the Onex Website within their quarterly supplementary materials - https://www.onex.com/financial-reporting.
ENDS -
About Convex
Convex Group is an international specialty insurer and reinsurer focused on complex specialty risks across a diverse range of business lines. The company brings together best in class talent, a diversity of thought and the freedom and independence of a strong balance sheet to create a fresh approach to business. The Group's ambition is to offer something different to its clients and to engage with them in a true partnership based on fairness, dignity and respect. Convex was founded by Stephen Catlin and Paul Brand and operates in London, including in Lloyd's, Bermuda, Luxembourg and New Jersey. The company has an "A" (Excellent) A.M. Best rating and an "A" with stable outlook S&P rating.
www.convexin.com
For media inquiries, please contact:
Haggie Partners: David Haggie, Olivia Thomson, Melissa Phillipson, Camilla De'Arth
convex@haggiepartners.com
+44 (0) 20 7562 4444
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