Alphabiz - Samsung Fire & Marine Insurance Completes USD 580 Million Additional Investment in Lloyd’s Insurer Canopius

Photo courtesy of Samsung Fire & Marine Insurance

[Alpha Biz= Paul Lee] SEOUL, October 25, 2025 — Samsung Fire & Marine Insurance Co., Ltd. (SFMI) announced that it has completed a USD 580 million (approximately KRW 800 billion) additional equity investment in Canopius Group, a leading global insurer operating within the Lloyd’s of London market.


The transaction was finalized on October 24 (UK time, October 23), following the completion of all required regulatory approvals and antitrust reviews. It marks Samsung Fire’s third investment in Canopius, following previous rounds in 2019 and 2020.


The deal stems from a share purchase agreement (SPA) signed on June 11, 2025, between Samsung Fire and Phedencia Consortium, led by Centerbridge Partners, the majority shareholder of Canopius.


Canopius reported USD 3.53 billion in gross written premiums and USD 400 million in net profit in 2024, with a combined ratio of 90.2%, positioning it among the top-tier insurers in the Lloyd’s market.


Through this investment, Samsung Fire has acquired an additional 21% stake, bringing its total ownership in Canopius to 40%, thereby solidifying its role as the company’s second-largest shareholder.


Samsung Fire and Phedencia Consortium will now establish a co-management structure, expanding Samsung’s representation on the board and enabling greater influence over key management decisions. The partnership aims to enhance global insurance expertise, deepen reinsurance collaboration, and strengthen the strategic alliance between the two firms.


Over the past six years, Samsung Fire has maintained a close relationship with Canopius through board participation, reinsurance partnerships, and executive exchanges. The expanded stake underscores Samsung Fire’s commitment to long-term global growth and strategic diversification in specialty insurance markets.

Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)