Canopius Group Limited has announced the completion of Samsung Fire & Marine Insurance’s (“SFMI”) strategic investment in the business. The investment will support Canopius’s growth arising from the recent acquisition of AmTrust at Lloyd’s and merger with its own Lloyd’s interests.
In addition to the investment, Canopius and SFMI will actively explore business collaboration opportunities in specialty insurance and reinsurance, particularly in the United States and Asia-Pacific region.
Canopius chairman Michael Watson said: “It is my great pleasure to welcome SFMI as a strategic business partner and investor in Canopius. SFMI’s exceptional financial strength and complementary licence network will be hugely advantageous as we take further transformational steps to build a leading global specialty (re)insurance franchise. We look forward to collaborating with SFMI with great enthusiasm.”