Samsung Fire & Marine Insurance (SFMI) has announced a significant increase in its stake in specialty and property/casualty reinsurer Canopius. The South Korean insurer has signed a new equity investment contract worth $570 million, acquiring an additional 21% stake in Canopius. This move follows SFMI’s initial investment in Canopius, which brought its shareholding to 19% in 2020.
The additional stake has been purchased from existing shareholders Fidentia Fortuna Holdings, led by U.S. private equity firm Centerbridge Partners. With this latest investment, SFMI’s total shareholding in Canopius will now stand at 40%, nearly doubling its previous stake.
Canopius Group, based in London, is a prominent Lloyd’s underwriter known for its specialty insurance and reinsurance offerings. The company operates globally and has a strong presence in the insurance market.
This strategic move by SFMI underscores its confidence in Canopius’s business model and growth prospects. By increasing its stake, SFMI aims to strengthen its partnership with Canopius and further expand its footprint in the global insurance and reinsurance industry.
The transaction is subject to regulatory approvals and is expected to be completed in the coming months. It reflects the ongoing consolidation and investment activity within the insurance sector as companies seek to enhance their market positions and capitalize on emerging opportunities.
In conclusion, Samsung Fire & Marine Insurance’s decision to elevate its investment in Canopius demonstrates its commitment to the long-term success of the company and its confidence in the insurance market’s growth trajectory.
References:
1. Samsung Fire & Marine ups stake in Canopius with new $570m investment – ReinsuranceNe.ws
Link: https://www.reinsurancene.ws/samsung-fire-marine-ups-stake-in-canopius-with-new-570m-investment/
2. Samsung Fire & Marine Insurance Increases Stake in Lloyd’s Insurer Canopius – Insurance Journal
Link: https://www.insurancejournal.com/news/international/2025/06/11/827177.htm
3. Samsung Fire & Marine Doubles Stake in Lloyd’s Underwriter Canopius for $570 Million – BestWire RSS feed | AM Best
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