Article ID: fec200d230089843de7b20eb1764e89728a555dc6c20ed21258293e02665db54
Source ID: primary:insurancejournal.com
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Extraction Method: trafilatura
URL: https://www.insurancejournal.com/news/international/2026/09/03/883805.htm
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South Korea’s Samsung Group-affiliated insurers plan to acquire London-based reinsurance company Canopius by buying an additional 50% stake for more than 2 trillion won ($1.47 billion), the Korea Economic Daily said on Thursday. Samsung Fire and Marine Insurance Co. and Samsung Life Insurance Co. are expected to sign a deal with major share owners including asset manager Centerbridge Partners, it added, citing unnamed industry sources. - Samsung Fire and Samsung Life now hold a 40% share in Canopius, the paper said. - Nothing has been decided at this stage, the two companies said in a statement. In a regulatory filing, Samsung Life said it is reviewing investment opportunities at home and abroad to secure new growth drivers, but has made no specific decision on a potential equity investment in a U.S. insurer. - Both firms are expected to fund the buy with dividends from Samsung Electronics, which had record operating profit in the second quarter, the paper said. - The two hold major stakes in the world’s largest memory chip maker. ($1 = 1,358.2300 won) (Reporting by Jack Kim, Heekyong Yang; editing by Chris Reese and Sherry Jacob-Phillips) Copyright 2026 Reuters. Click for restrictions. Topics Mergers & Acquisitions Carriers Was this article valuable? Here are more articles you may enjoy.
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