Samsung Fire & Marine Insurance Co., Ltd. agreed to acquire an unknown minority stake in Canopius AG.
May 02, 2019
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Samsung Fire & Marine Insurance Co., Ltd. (KOSE:A000810) agreed to acquire an unknown minority stake in Canopius AG on May 3, 2019. Under the terms of the transaction, SFMI will become a significant minority investor in Canopius. The transaction is subject to necessary regulatory consents and is expected to close in the third quarter of 2019. GC Securities acted as financial advisor and Freshfields Bruckhaus Deringer acted as legal advisor to Canopius, while Macquarie Capital (Europe) Limited acted as financial advisor and Norton Rose Fulbright LLP acted as legal advisor to Samsung Fire & Marine Insurance.
Samsung Fire & Marine Insurance Co Ltd is a Korea-based insurance company specialized in the non-life insurance business. The Companyâs non-life insurance products include fire insurance, marine insurance, technology insurance, automobile insurance, accident insurance, liability insurance, overseas casualty insurance, long-term insurance, personal pension insurance and enterprise insurance, among others. The Company also provides loan services, such as mortgage loans, insurance contract loans and credit loans, emergency relief and claims surveying services. The Company provides its insurance products within domestic market and to overseas markets, such as Indonesia, Brazil, China and others.