Samsung Fire & Marine ups stake in Canopius with new $570m investment

Samsung Fire & Marine Insurance (SFMI) has lifted its stake in specialty and P&C re/insurer Canopius following the signing of an additional equity investment contract worth $570 million.

This additional 21% stake has been purchased from existing shareholders Fidentia Fortuna Holdings, which is led by the U.S. private equity firm Centerbridge Partners.

It also marks SFMI’s third investment in Canopius, following two rounds of approximately $300 million in 2019 and 2020, which have cemented its position as the second-largest shareholder at 40%.

As Reinsurance News understands, a practical joint management system is set to be established with the Fidencia consortium led by Centerbridge, the current major shareholder of Canopius.

It is anticipated that, in addition to expanding the number of seats on the board of directors, Canopius will be able to secure substantial authority over major management issues, thereby further strengthening its management capabilities in the global market.

Neil Robertson, Group Chief Executive Officer of Canopius Group, commented, “We are delighted that SFMI has chosen to increase its shareholding in Canopius. Their continued support reflects a shared confidence in our long-term strategy and the value we aim to create.

“SFMI has been a trusted partner since its initial investment, and we look forward to deepening our relationship as we continue to build a resilient and forward-looking business.”

Munhwa (Marvin) Lee, CEO of Samsung Fire & Marine Insurance, said, “This additional investment goes beyond a financial stake—it represents a strategic milestone toward increased collaboration and shared value creation. We remain committed to expanding our overseas footprint and driving innovation to evolve into a top-tier global insurer.”

Centerbridge Partners Senior Managing Directors Ben Langworthy and Matthew Kabaker added, “SFMI’s decision to increase its investment in Canopius reflects the Group’s outstanding growth and financial performance over the last three years, delivering on its strategic plan.

“We look forward to continuing our successful partnership with Canopius and SFMI as the company embarks on its next chapter with exciting ambitions for growth globally.”

This website states: The content on this site is sourced from the internet. If there is any infringement, please contact us and we will handle it promptly.