Samsung Fire & Marine Insurance will spend about 2.26 trillion won to raise its shareholding ratio in the British specialty insurance company Canopius Group to 80.6%. This will be one of the largest overseas acquisitions of Korean financial institutions. The deal will allow South Korea's largest non-life insurance company Samsung Fire to gain control from Canopius and accelerate its entry into the global specialty insurance market. Currently, Korean financial companies are increasingly looking overseas to seek growth. According to an announcement issued by Samsung Fire on Tuesday, Korea Investment Corporation, the Korean National Sovereign Wealth Fund, and private equity giant KKR participated in the investment. After the transaction is completed, KKR and KIC are expected to hold 12.15% and 7.29% of Canopius's shares, respectively.

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