SPRINGFIELD, Virginia, Aug. 28 -- The Boat Owners Association of the U.S. issued the following news release:

Forecasters say Tropical Storm Dorian is spending more time over the warm waters of the Atlantic gathering strength and could strike the southeastern U.S. coast as a full-blown category 2 hurricane (96-110 mph wind speed) early next week. Now with the National Weather Service advising residents of Florida's east coast to have a hurricane plan in place, Boat Owners Association of The United States (BoatUS) has issued hurricane-preparation alerts to its members and is offering free hurricane planning help for all of the region's boat owners at BoatUS.com/Hurricanes. This no-cost assistance includes:

1. the new BoatUS Magazine Hurricane Preparation Guide with information on what to expect, where to keep a boat, how to find and fix potential breaking points, develop a hurricane plan, and more.

2. Boater's Guide to Preparing Boats and Marinas for Hurricanes for details on what you can do to protect your boat in a slip, dock, canal, on a lift, in a dry-storage rack, mooring, anchor or hurricane hole.

3. Hurricane Preparation Worksheet to easily manage your boat's hurricane prep efforts and to give a copy to your marina owner/manager.

4. A sampling of hurricane plans for marinas or yacht clubs that can be adapted for your facility.

Boat owners can also start by tracking the storm with the free BoatUS.com/App. (After downloading, go to settings to enable "push notifications" for your region.)

BoatUS, the national advocacy, services and safety group for recreational boat owners, also says it's wise for boaters to take photos of their hurricane prep efforts, as they may help if a dispute later arises during salvage and recovery efforts.

BoatUS and its Marine Insurance Catastrophe (CAT) Team has been a leader in recreational boat hurricane preparedness with more than 30 years of post-hurricane boat salvage experience. For more, go to BoatUS.com/Hurricanes.

LONDON--(BUSINESS WIRE)--
Canopius Group (“Canopius”, or the “Group”), a leading international specialty and P&C (re)insurer, today announces that Samsung Fire & Marine Insurance (“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”).

The outstanding shares are being acquired from Canopius’ other existing shareholders, including Fidentia Fortuna Holdings, the controlling consortium led by global private investment firm Centerbridge Partners.

SFMI will acquire an additional 40.6% stake in Canopius out of the remaining 60%, increasing its total ownership to 80.6% through this transaction - KKR and KIC will hold 12.1% and 7.3% respectively. (The final shareholding is subject to minor adjustments at closing).

KKR intends to drive value creation and support Canopius’ continued growth by leveraging its global platform and operational, strategic, and M&A expertise.

KIC, the sovereign wealth fund of the Republic of Korea, participated in the co-investment as part of its strategic investment initiative aimed at supporting Korean companies in their global expansion.

Since its initial investment in 2019, SFMI has strengthened its strategic partnership with Canopius. SFMI increased its stake to 40% through investment in 2025, and will secure a controlling interest through this latest transaction. This agreement marks the culmination of a strategic partnership built deliberately over seven years, through greater ownership and increasing strategic and operational collaboration. With this transaction, SFMI is fully committed to preserving Canopius’ strengths, with the overall objective to create the leading global specialty insurer across Lloyd’s, the U.S. and Asia Pacific.

Munhwa (Marvin) Lee, Chief Executive Officer & President of Samsung Fire & Marine Insurance, said: "This acquisition marks a pivotal step in our journey towards becoming a truly global insurer. Building on seven years of trust between Canopius and SFMI, we will combine our strengths to solidify our position in the Lloyd’s market and pursue further global expansion, including in the US." He added, "We will fully support Canopius, enabling both companies to succeed together while preserving its expertise and autonomy."

Neil Robertson, Group Chief Executive Officer of Canopius Group, said: “SFMI has grown to know this business over the past seven years. They have watched, at close quarters, what we have built, and they are enticed by the exciting plans we have evolved, and they have chosen to back it in full. There is no greater compliment a partner can pay, and we are grateful for the confidence they are placing in us. What this brings Canopius is permanent capital and an owner with a long-term view; we will retain the same appetite, the same discipline and the same people alongside our clients and brokers. For everyone here this is a launch pad rather than a finish line, and I am incredibly optimistic about what we will build next. I would also like to thank Centerbridge and the other consortium partners for their support and partnership over the last few years."

Centerbridge Partners Senior Managing Directors Ben Langworthy and Matthew Kabaker said, “It has been a privilege to support Canopius on its journey to becoming one of the world's leading specialty underwriters. Alongside the Group's management team and SFMI, we supported a period of substantial growth and transformation. Through strategic investment, operational enhancement and a disciplined focus on long-term value creation, Canopius has strengthened its market position, expanded its global footprint and enhanced its long-term growth prospects. Together, we helped build a stronger platform for sustained growth. We are proud of the value created during this partnership and wish the company, its management team and SFMI every success in the years ahead.”

Michael Small, Partner, Credit & Markets at KKR, said: “This transaction reflects the value of flexible, long-term capital in supporting a high-quality business with a differentiated global franchise. We look forward to supporting Canopius in its next phase of growth, drawing on KKR’s global network and deep operational and sector experience across insurance and reinsurance.”

Il Young Park, KIC CEO, said: “KIC will continue to actively participate in a diverse range of investments and seek opportunities to enhance the competitiveness of Korean industry through the overseas expansion of Korean companies.”

The transaction is subject to customary closing conditions, including required regulatory approvals.

About Canopius

Canopius is an international specialty and P&C (re)insurer. Canopius underwrites insurance products on several platforms to offer a wide range of specialty solutions. Our offices are located in Australia, Bermuda, Singapore, the UK and the U.S. We underwrite through Lloyd’s Syndicate 4444 (managed by Canopius Managing Agents Limited), a US surplus lines insurer, Canopius US Insurance, Inc and Canopius Reinsurance Ltd, a Bermuda based Class 4 Reinsurer. By working together across regions, we create global insurance solutions in more than 130 countries. For more information, visit www.canopius.com or find out more via LinkedIn.

About Samsung Fire & Marine Insurance

SFMI is the leading non-life insurance company in Korea, headquartered in Seoul. In addition to property & casualty business, SFMI provides a variety of insurance products and services such as corporate pensions, annuity and health insurance. SFMI’s shares are listed on the Korea Exchange and is the largest non-life insurance company by market capitalisation as of 2025. S&P and A.M. Best have affirmed ratings of AA and A++ respectively. For more information, visit www.samsungfire.com or find out more via LinkedIn.

About Centerbridge Partners

Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines — Private Equity, Private Credit and Real Estate — in an effort to develop the most attractive opportunities for our investors. The Firm was founded in 2005 and, as of December 31, 2025, has approximately $46 billion in assets under management with offices in New York and London. Centerbridge is dedicated to partnering with world-class management teams across targeted industry sectors and geographies. For more information, please visit www.centerbridge.com | LinkedIn.

About KKR

KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group’s website at www.globalatlantic.com.

About KIC

The Korea Investment Corporation (KIC) is the sovereign wealth fund of the Republic of Korea. We manage public funds entrusted by the Korean government and Bank of Korea, investing across diverse asset classes. Our goal is to increase sovereign wealth and help develop the domestic finance industry. Learn more at www.kic.kr/en/.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261109534243/en/

For KKR

Wei Jun Ong

+65 6922 5813

WeiJun.Ong@kkr.com

James Jarman

+65 8870 6452

James.Jarman@kkr.com

Source: KKR