Reports have emerged suggesting that Samsung Fire & Marine Insurance and Samsung Life Insurance, both part of South Korea’s Samsung Group, are planning to acquire an additional 50% stake in specialty and P&C re/insurer Canopius for more than 2 trillion won ($1.47 billion).
The Korea Economic Daily was the first to report the news, citing unnamed industry sources. Several other mainstream publications have since picked up the story.
Samsung Fire & Marine Insurance already holds a significant stake in Canopius, following an additional equity investment worth $570 million in 2025.
The deal, which involved the purchase of an additional 21% stake from existing shareholders, marked Samsung Fire & Marine Insurance’s third investment in Canopius.
It followed two investments of approximately $300 million each in 2019 and 2020. The 2025 transaction made Samsung Fire & Marine Insurance Canopius’ second-largest shareholder, with a 40% stake.
If the reports prove accurate, Samsung Fire & Marine Insurance’s ownership stake in Canopius could rise to as much as 90%, underscoring the group’s desire to increase its exposure to the global specialty insurance and reinsurance markets.
The move would also further diversify Samsung’s business model beyond its existing domestic insurance operations.
