Onex posts Q2 2026 earnings, boosts Convex stake and buybacks

Private equity group Onex Corp. on Friday reported its second-quarter 2026 financial results, detailing an enlarged position in Convex Financial and a more aggressive share repurchase program.

The Toronto-based firm said it raised its stake in Convex Financial, an insurance and reinsurance group, during the quarter. Onex did not disclose the size of the stake increase or the value of the transaction. The move follows prior investments in the sector, underscoring Onex’s continued focus on financial services.

Onex also expanded its share buyback authorization, extending the program’s scope without specifying a dollar limit. The company said the decision reflects confidence in its cash flow outlook and valuation. The buyback authorization had previously been in place but was not fully utilized.

The firm did not provide detailed financial metrics for the quarter, including revenue or profit figures, in the announcement. Onex typically reports earnings in conjunction with quarterly updates, though Friday’s release focused on strategic actions rather than financial performance.

Convex Financial, in which Onex has held a significant stake for several years, operates in the specialty insurance and reinsurance markets. The company has cited growth in its property and casualty segments as a driver of recent performance.

Onex’s latest disclosure comes amid broader market volatility in financial services, with insurers and reinsurers facing varying demand and pricing dynamics. The firm’s strategic positioning in Convex aligns with its long-term investment thesis in financial services and insurance-linked opportunities.

The company plans to provide further details on its Q2 2026 financial performance in subsequent filings.