Samsung Fire and Marine Insurance (SMFI) has announced the acquisition of a controlling interest in Canopius for approximately KRW2.26 trillion (USD1.7 billion). This deal allows SMFI to increase its stake in Canopius from 40% to 80.6%.
The acquisition involves purchasing 40.6% of the 60% stake currently held by other shareholders, including Fidentia Fortuna Holdings, which is led by the global private investment firm Centerbridge Partners. Following the transaction, global investment firm KKR will retain a 12.1% stake, while the Korea Investment Corporation, South Korea’s sovereign wealth fund, will hold 7.3%.
Norton Rose Fulbright advised SMFI throughout the transaction, managing all aspects including the acquisition terms and the arrangements among co-investors. Partner Simon Baker led the Norton Rose team. Fidentia Fortuna was represented by Freshfields, with partner George Swan at the forefront.
Clifford Chance provided counsel to KKR, with a team that included partners Tom Lin, Shimin Lee, Cheng Li Yow, and several others, led by Ashley Prebble, head of global insurance.
SMFI’s involvement with Canopius began in 2019, and the company previously enhanced its investment to 40% in 2025. Canopius is recognized as a global specialty insurance and reinsurance group, with its headquarters located in London.
This transaction is subject to customary closing conditions, which include the necessary regulatory approvals before it can be finalized.
