Latest news with #Canopius
Yahoo
26-06-2025
- Business
- Yahoo
Equus Claims Management approved as Lloyd's DCA
Equus Claims Management, a company specialising in equine insurance, has secured Lloyd's Delegated Claims Administrator (DCA) status. The accreditation follows sponsorship from insurance group Canopius. The company, led by co-founders Mark Pilkington and David Nolan, is known for its expertise in the equine field, particularly within bloodstock, sports and recreational horse industries. Equus is also involved in adjusting claims for several UK equestrian associations. Pilkington and Nolan commented: 'Becoming a Lloyd's DCA is testament to our relationship with the Canopius team and shall only add to Equus' ability to be on-hand for clients in their hour of need.' Equus services include first notification of loss, third party administration, and claim handling from initiation to resolution. The company also offers investigative services and facilitates direct access to external equine experts for its clients. Canopius Equine & Livestock head Jeremy Chappell said: 'Having had the pleasure of working with Dave and Mark for several years, we are delighted to help facilitate Equus' path to Lloyd's DCA status whilst providing additional reassurance to our customer base in the event of an accident.' In April, Canopius engaged Global Parametrics, a CelsiusPro company, as a coverholder for its Lloyd's Syndicate 4444. Global Parametrics has entered into a binding authority agreement, enabling it to underwrite insurance products with an initial emphasis on natural disaster perils such as tropical cyclones, earthquakes, floods and excess rainfall. It is expected to contribute to the development of Canopius' portfolio in the area of natural catastrophe risks. "Equus Claims Management approved as Lloyd's DCA " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Miami Herald
12-06-2025
- Business
- Miami Herald
Samsung Fire invests $570 million in Canopius
June 12 (UPI) -- South Korea's Samsung Fire & Marine Insurance has invested $570 million in Canopius Group to increase its stake in the international specialty insurer from 19% to 40%. Canopius announced Wednesday that Samsung Fire had purchased the 21% stake from Fidentia Fortuna Holdings, which is owned by U.S. private equity company Centerbridge Partners. It marked Samsung Fire's third investment in Canopius. South Korea's leading non-life insurance firm channeled funds in 2019 and 2020 to secure a 21% stake in London-based Canopius. The transaction, which is expected to take place on Sept. 30 this year, is subject to customary closing conditions, including regulatory approvals. "This additional investment goes beyond a financial stake -- it represents a strategic milestone toward increased collaboration and shared value creation," Samsung Fire CEO Lee Mun-hwa said in a statement. "We remain committed to expanding our overseas footprint and driving innovation to evolve into a top-tier global insurer," he added. Established in 2003, Canopius has grown into a top-tier global underwriter, which has operations in more than 130 countries, including Bermuda, the Netherlands, Singapore, Switzerland, the United Kingdom, and the United States. The company ranks as the fifth-largest syndicate in the Lloyd's London market. Samsung Fire has actively explored investment opportunities in overseas markets. It spent $19 million in 2017 to become the second-largest shareholder of Vietnamese insurer PJICO with a 20% interest. In 2018, the Seoul-based company channeled $20 million to buy a roughly 5% shareholding in Indonesian non-life insurance company TPI. Copyright 2025 UPI News Corporation. All Rights Reserved.
UPI
12-06-2025
- Business
- UPI
Samsung Fire invests $570 million in Canopius
June 12 (UPI) -- South Korea's Samsung Fire & Marine Insurance has invested $570 million in Canopius Group to increase its stake in the international specialty insurer from 19% to 40%. Canopius announced Wednesday that Samsung Fire had purchased the 21% stake from Fidentia Fortuna Holdings, which is owned by U.S. private equity company Centerbridge Partners. It marked Samsung Fire's third investment in Canopius. South Korea's leading non-life insurance firm channeled funds in 2019 and 2020 to secure a 21% stake in London-based Canopius. The transaction, which is expected to take place on Sept. 30 this year, is subject to customary closing conditions, including regulatory approvals. "This additional investment goes beyond a financial stake -- it represents a strategic milestone toward increased collaboration and shared value creation," Samsung Fire CEO Lee Mun-hwa said in a statement. "We remain committed to expanding our overseas footprint and driving innovation to evolve into a top-tier global insurer," he added. Established in 2003, Canopius has grown into a top-tier global underwriter, which has operations in more than 130 countries, including Bermuda, the Netherlands, Singapore, Switzerland, the United Kingdom, and the United States. The company ranks as the fifth-largest syndicate in the Lloyd's London market. Samsung Fire has actively explored investment opportunities in overseas markets. It spent $19 million in 2017 to become the second-largest shareholder of Vietnamese insurer PJICO with a 20% interest. In 2018, the Seoul-based company channeled $20 million to buy a roughly 5% shareholding in Indonesian non-life insurance company TPI.
Korea Herald
12-06-2025
- Business
- Korea Herald
Samsung Fire ups Canopius stake to 40% in global push
Samsung Fire & Marine Insurance is ramping up its overseas expansion with a $570 million investment in Canopius Group, increasing its stake in the London-based specialty insurer to 40 percent. The Korean general insurer said Wednesday it will acquire an additional 21.17 percent stake in Fortuna Topco, the holding company that owns 100 percent of Canopius. A Samsung Fire official noted the stake effectively translates to a direct holding in Canopius, which specializes in property and casualty insurance and reinsurance. The shares are being acquired from a Centerbridge-led consortium, which will retain a 60 percent controlling stake after the transaction. Pending regulatory approvals in both countries, the deal is expected to close by the end of September. This marks Samsung Fire's third investment in Canopius, following a combined $300 million in stakes acquired in 2019 and 2020. Samsung Fire's latest move further solidifies its position as the second-largest shareholder and establishes its role as a co-operator of Canopius alongside the Centerbridge-led consortium. Canopius has posted steady growth in recent years, reporting $3.53 billion in gross written premiums in 2024 and ranking among the top five at Lloyd's, one of the world's largest specialty and reinsurance marketplaces. It operates underwriting platforms in Bermuda, the Netherlands, Singapore, Switzerland, the UK, the US and Lloyd's China. Samsung Fire said its partnership with Canopius has also delivered tangible benefits, including around 300 billion won ($221 million) in reinsurance revenue and 88 billion won in equity-method gains in 2024. With its expanded stake, the company plans to step up its board involvement and decision-making role to further strengthen its global footprint. 'This deal goes beyond a simple stake investment — it marks a strategic milestone for joint management and value creation in the global market,' said Samsung Fire & Marine CEO Lee Mun-hwa. 'We will continue to move beyond Korea's insurance market through bold global expansion and innovation, aiming to become a leading international insurer.'
Yahoo
25-04-2025
- Business
- Yahoo
Global Parametrics named Lloyd's coverholder for Canopius
Canopius, an international specialty lines and property and casualty (P&C) reinsurer, has selected Global Parametrics, a CelsiusPro company, as a coverholder for its Lloyd's Syndicate 4444. Under a binding authority agreement, Global Parametrics is authorised to underwrite for Canopius. The agreement will see Global Parametrics building a portfolio for Canopius, focusing initially on natural disaster perils such as tropical cyclones, earthquakes, floods and excess rainfall. This alliance capitalises on Global Parametrics' expertise in managing the natural disaster fund (NDF) since 2018. Global Parametrics will provide underwriting services and allocate risk capacity in accordance with the guidelines established by Syndicate 4444. CelsiusPro Group CEO Mark Rueegg said: 'The partnership with Canopius is a major milestone for our company. We are doubling down on our Group's core expertise of structuring parametric solutions and our approach to deploying risk capacity for climate and natural catastrophe perils. We are also thrilled to become part of the Lloyd's of London ecosystem as it will foster our ability to help more clients and communities become more resilient.' Canopius UK chief underwriter officer Alois Rouffiac stated: 'This partnership enables Canopius to deploy risk capacity for parametric solutions globally, which represents an attractive opportunity to further expand parametric insurance as a scalable solution. We believe these products can address the growing protection gap in regions where underinsurance remains a pressing issue.' In February, Canopius approved Qubit as a coverholder to distribute digital asset custody and crime insurance products from Hong Kong. Meanwhile, in the same month, Global Parametrics was in the news for offering parametric insurance cover to coffee farmers in Vietnam, in collaboration with Willis, a WTW business. "Global Parametrics named Lloyd's coverholder for Canopius " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
