Samsung Fire & Marine Insurance raises its stake in Canopius

Samsung Fire & Marine Insurance (SFMI) has acquired an additional 21% stake in Canopius, an international insurance and reinsurance group.

The shareholding was acquired from Fidentia Fortuna Holdings, a consortium led by US private equity firm Centerbridge Partners.

This is SFMI's third investment in the group, following its 2019 and 2020 transactions.

Upon completion of the deal, the South Korean insurer will hold a 40% equity stake in the group. The operation is subject to regulatory approval.

Founded in 2003, Canopius Group specializes in non-life insurance. The London-based company is also present in the USA, Bermuda, Singapore and Australia.