Samsung insurance arms weigh major global acquisitions

Samsung’s insurance divisions are considering major international acquisitions that could total up to 9 trillion won ($6.6 billion).

Samsung Fire & Marine Insurance is reportedly nearing a deal to take full control of Canopius, a specialty insurer based in London. The company has previously increased its stake in Canopius’s holding company, Fortuna Topco, from 15.3 percent in 2019 to 40 percent in 2025. Acquiring the remaining shares would transition Samsung Fire from a strategic investor to a controlling shareholder, providing deeper access to the Lloyd’s market and international broker networks.

Simultaneously, Samsung Life Insurance is weighing the purchase of approximately a 15 percent stake in the US-based Principal Financial Group. While both insurers have indicated they are reviewing global investment opportunities to find new growth drivers, regulatory filings state that no final decisions have been made regarding these potential deals.