Samsung Fire bets W2.26tr on UK insurer

Samsung Fire & Marine Insurance will invest 2.26 trillion won ($1.68 billion) to take control of UK specialty insurer Canopius. The deal is expected to lift the overseas share of Samsung Fire's business from about 10 percent to roughly 25 percent. South Korea's largest non-life insurer said Tuesday it agreed to acquire an additional 40.5 percent stake in Canopius' holding company, Fortuna Topco, raising its ownership from about 40 percent to 80.6 percent. The acquisition would give Samsung Fire

Source: The Korea Herald