South Korean insurer ups stake to 40% in specialty underwriter
Samsung Fire & Marine Insurance has entered into an agreement to purchase an additional 21% equity stake in the Canopius Group, bringing its shareholding to 40%.
This stake in the speciality insurer – reported to be worth $570m (£422.5m) – has been purchased from existing shareholders Fidentia Fortuna Holdings, which is led by US private equity firm, Centerbridge Partners.
We remain committed to expanding our overseas footprint and driving innovation to evolve into a top-tier global insurer.
It marks SFMI’s third investment in the group, following previous investments in 2019 and 2020 which totalled $300m, and strengthens its position as the second largest
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