Onex, PSP and GIC to invest $1bn in Convex.

Investment companies Onex, PSP and GIC agreed to invest $1bn in Convex, a specialty insurer and reinsurer, together with a consortium of existing and new co-investors. "Onex and our existing investor base have provided us with tremendous support in building the business and we welcome the new investor partners, including GIC. We are delighted to have additional capital as this will enable us to take full advantage of the hardening market," Stephen Catlin, Convex CEO.