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Samsung Fire & Marine Insurance to Acquire Outstanding Stake in Canopius with KKR and KIC

KKR
  • Samsung Fire & Marine Insurance (SFMI) has agreed to acquire the remaining 60% stake in Canopius Group alongside KKR & KIC.
  • SFMI will purchase an additional 40.6% from existing shareholders, increasing its total ownership to 80.6%.
  • KKR & KIC will hold 12.1% & 7.3% of Canopius respectively, subject to minor closing adjustments.
  • The acquired shares are being purchased from Fidentia Fortuna Holdings & the Centerbridge Partners-led consortium.
  • SFMI aims to create the leading global specialty insurer across Lloyd's, the U.S. & Asia Pacific through this controlling interest.
  • KKR intends to support Canopius' growth by leveraging its global platform & M&A expertise.
  • KIC participated as part of its initiative to support Korean companies in their global expansion.
  • The transaction marks the culmination of a seven-year strategic partnership that began with SFMI's initial 2019 investment.
  • Canopius CEO Neil Robertson confirmed the deal provides permanent capital & a long-term owner while retaining current management & discipline.
  • The agreement is subject to customary closing conditions, including regulatory approvals.