Samsung Fire & Marine Insurance Acquires Controlling Stake in Canopius

Samsung Fire & Marine Insurance agreed to acquire an additional 40.6% stake in the UK-based specialty insurer Canopius, bringing its total ownership to 80.6%. This transaction grants the South Korean company a controlling interest in Canopius, building upon a strategic partnership that first began in 2019.

The acquisition was conducted alongside global investment firm KKR and the Korea Investment Corporation, which will hold stakes of 12.1% and 7.3%, respectively. Samsung Fire & Marine Insurance intends to use the controlling position to strengthen its presence in the Lloyd's market and drive international expansion, specifically targeting the United States.

KKR will provide operational and M&A expertise to support the growth of the insurer, while the Korea Investment Corporation's participation supports the broader global expansion of South Korean firms. Canopius Chief Executive Neil Robertson stated that the deal provides the company with permanent capital.