London – 11 June 2025 – Canopius Group (“Canopius”, or the “Group”), a leading international specialty and P&C (re)insurer, is pleased to announce that Samsung Fire & Marine Insurance (“SFMI”) has entered into an agreement to purchase an additional 21% equity stake(1), bringing their shareholding to 40%.
This stake has been purchased from existing shareholders Fidentia Fortuna Holdings, which is led by U.S. private equity firm, Centerbridge Partners.
This will mark SFMI’s third investment in the Group, following previous investments in 2019 and 2020, and builds on a long-standing strategic partnership.
Neil Robertson, Group Chief Executive Officer of Canopius Group, said, “We are delighted that SFMI has chosen to increase its shareholding in Canopius. Their continued support reflects a shared confidence in our long-term strategy and the value we aim to create. SFMI has been a trusted partner since its initial investment, and we look forward to deepening our relationship as we continue to build a resilient and forward-looking business.”
Munhwa (Marvin) Lee, CEO of Samsung Fire & Marine Insurance said, “This additional investment goes beyond a financial stake—it represents a strategic milestone toward increased collaboration and shared value creation. We remain committed to expanding our overseas footprint and driving innovation to evolve into a top-tier global insurer.”
Centerbridge Partners Senior Managing Directors Ben Langworthy and Matthew Kabaker said, “SFMI’s decision to increase its investment in Canopius reflects the Group’s outstanding growth and financial performance over the last three years, delivering on its strategic plan. We look forward to continuing our successful partnership with Canopius and SFMI as the company embarks on its next chapter with exciting ambitions for growth globally.”
The transaction is subject to customary closing conditions, including regulatory approvals.
Fenchurch Advisory Partners is acting as financial adviser on the transaction to Canopius and Fidentia Fortuna Holdings, led by Centerbridge Partners.
Macquarie Capital is acting as SFMI’s financial adviser for this transaction.
NOTES
- Valuing the company at approximately 1.55xTBV (1.4x BV) plus customary contractual closing adjustments
ENDS
For further information:
Investors
Gavin Phillips, Group Chief Financial Officer, Canopius – Gavin.Phillips@canopius.com
Media
Brian Norris, MHP Communications – brian.norris@mhpgroup.com
About Samsung Fire & Marine Insurance
Samsung Fire & Marine Insurance is the leading non-life insurance company in Korea, headquartered in Seoul. SFMI offers a variety of insurance products and retirement pension products, including fire, marine, automobile, accident, liability, long-term personal protection, and personal pension. SFMI’s shares are listed on the Korea Exchange and is the largest non-life insurance company by market capitalisation as of May 31, 2025. S&P and A.M. Best have affirmed ratings of AA- and A++ respectively. For more information, visit www.samsungfire.com
