Samsung Fire seeks control of Britain's Canopius in $2.2 billion deal
· Politics · South Korea · United Kingdom
Samsung Fire & Marine Insurance is seeking to raise its stake in British specialty insurer Canopius from 40% to about 80% in a deal with US investment firm KKR and other investors, according to local industry reports on Monday. Samsung Fire and its partners would pay a combined $2.2 billion for the 60% stake they do not own, in one of the larger overseas insurance deals by a South Korean company.
Why it matters：The deal would give a South Korean insurer control of a London specialty underwriter, extending Korean financial groups into global insurance markets.
Key points
- Samsung Fire currently holds 40% of Canopius.
- It aims for about 80%.
- The combined price for the 60% stake is $2.2 billion.
Sources (original reporting)
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