AM Best Places Credit Ratings of Canopius US Insurance, Inc. and Canopius Reinsurance Limited Under Review With Positive Implications

NOVEMBER 11, 2026 01:28 PM (EST)

AM Best Places Credit Ratings of Canopius US Insurance, Inc. and Canopius Reinsurance Limited Under Review With Positive Implications

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FOR IMMEDIATE RELEASE

LONDON - NOVEMBER 11, 2026 01:28 PM (EST)
AM Best has placed under review with positive implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of "a-" (Excellent) of Canopius US Insurance, Inc. (Wellington, DE) and Canopius Reinsurance Limited (Canopius Re) (Bermuda). Both entities are wholly owned subsidiaries of Canopius Group Limited (Canopius) (Jersey), the non-operating holding company of the Canopius group of companies.

The Credit Ratings (ratings) have been placed under review following the announcement on 10 November 2026, that Samsung Fire & Marine Insurance Company Limited (SFMI) has entered into an agreement to acquire the remaining 60% stake in Canopius, alongside funds managed by global investment firm KKR, and Korea Investment Corporation (KIC). SFMI will acquire an additional 40.6% to its existing 40% shareholding for an 80.6% controlling interest, with KKR holding 12.1% and KIC holding 7.3%, subject to minor adjustments to final shareholding at closing.

The under review with positive implications status reflects the potential financial and operational benefits that Canopius may derive from being part of a significantly larger insurance organisation, which is of greater financial strength. The ratings will likely remain under review until completion of the transaction and a detailed review by AM Best of Canopius' future business plans.

This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings (BCR), Best's Performance Assessments (PA), Best's Preliminary Credit Assessments (PCA) and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.