Samsung Fire & Marine Insurance Acquires Majority Stake in Canopius
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
Samsung Fire & Marine Insurance agreed to take control of Canopius Group by acquiring a further 40.6 per cent of the specialty insurer and reinsurer. This acquisition increases Samsung Fire & Marine Insurance’s ownership to 80.6 per cent. The sellers included Fidentia Fortuna Holdings, the controlling consortium led by Centerbridge Partners.
From royalgazette.com
Why it matters
The deal allows Samsung Fire & Marine Insurance to build its specialty insurance business across Lloyd’s, the United States, and Asia-Pacific. Canopius operates a Class 4 reinsurance operation in Bermuda.
From royalgazette.com
Who's involved
- Centerbridge PartnersLed the consortium that sold its stake in Canopius.
- CanopiusGlobal specialty lines reinsurer that is being acquired.
- Korea Investment CorporationWill hold a 7.3 per cent stake in Canopius.
- Samsung Fire & Marine InsuranceSouth Korean insurer acquiring a 40.6 per cent stake in Canopius.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- CanopiusSpeculative
Canopius might secure permanent capital and long-term ownership through the acquisition by Samsung Fire & Marine Insurance.
- Samsung Fire & Marine InsuranceSpeculative
Samsung Fire & Marine Insurance could expand its specialty insurance business across Lloyd’s, the United States, and Asia-Pacific.
- Korea Investment CorporationSpeculative
Korea Investment Corporation might realize capital gains from the divestment of its stake in Canopius.
Keep exploring
The entities involved
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Centerbridge Partners
US multi-strategy private investment firm
Nothing else this week.
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Canopius
global specialty lines (re)insurer
Nothing else this week.
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Korea Investment Corporation
company
Nothing else this week.