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Samsung Fire & Marine may boost Canopius stake in $1.47B deal
The proposed purchase would add 50% more to Canopius for over 2 trillion won, potentially lifting Samsung Fire & Marine ownership to as much as 90%.
Reinsurance News reports that Samsung Fire & Marine Insurance and Samsung Life Insurance, both part of South Korea’s Samsung Group, are considering an additional 50% stake acquisition in specialty and property and casualty re/insurer Canopius for more than 2 trillion won, about $1.47 billion.
The story says the Korea Economic Daily first flagged the plan, citing unnamed industry sources, and other mainstream outlets later picked up the development.
It notes Samsung Fire & Marine already holds a significant stake in Canopius after a $570 million equity investment in 2025, where it bought an additional 21% stake from existing shareholders.
According to the report, the 2025 transaction made Samsung Fire & Marine Canopius’ second-largest shareholder with a 40% stake, and earlier investments in 2019 and 2020 totaled around $300 million each, with the latest possible move aimed at increasing exposure to global specialty insurance and reinsurance markets.