The deal, expected to close by 31 March 2027, will give Samsung Fire control of Canopius, with KKR and KIC taking minority stakes through separate investments.
The syndicate expects to start underwriting on 1 January 2027 and provide multi-year reinsurance capacity across eligible treaties arranged by the broker.
The company expects to start trading on 1 January 2027, subject to final regulatory approval, and expand access to specialty, facilities and selected MGA business.
The increase follows growing demand for committed capacity and marks the latest expansion of ACT, with facultative reinsurance emerging as a key area of growth.
Bilal Zafar, formerly of Volante Global, will lead the unit, which will write treaty reinsurance across four lines with capacity from Fidelis Syndicates 3123 and 2126.
The expansion is expected to support Awbury's growth in Japan's credit and financial risk market while broadening access to locally issued cover for corporates and financial institutions.
The partnership adds Lloyd's Asia to GAIP's growing network as the platform seeks to address regional protection gaps through greater industry collaboration.
