The parent company of a Bermuda reinsurer may be acquired for $1.5 billion by insurance units of South Korean conglomerate Samsung.

The Reuters news agency has said ​the Korea Economic Daily reported Samsung ​Group-affiliated insurers plan to acquire the London-based reinsurer by buying an additional 50 per cent stake for more than 2 trillion won ($1.47 billion).

Samsung Fire ​and Marine Insurance Co and Samsung Life ⁠Insurance Co are expected to sign ​a deal with major share owners including ​asset manager Centerbridge Partners, it added, citing unnamed industry sources.

Samsung Fire and Samsung Life already hold a 40 per cent share in ​Canopius, the newspaper said.

The two Samsung insurers said in a joint statement that nothing had yet been decided.

In ‌a ⁠regulatory filing, Samsung Life said it is reviewing investment opportunities at home and abroad to secure new growth drivers, but has ​made no ​specific decision ⁠on a potential equity investment in a US insurer.

Both firms ​are expected to fund the buy with dividends from ​Samsung ⁠Electronics, which had record operating profits in the second quarter, the paper said. The two hold major ⁠stakes ​in the world's largest ​memory chip maker.

Canopius’s Bermuda business operates through Canopius Reinsurance Ltd, the Class 4 reinsurer providing specialist reinsurance and capital solutions.

The platform supports efficient capital deployment and disciplined risk management across the group, underwriting a diversified portfolio across property, casualty and specialty reinsurance.

In addition, Canopius ILS structures bespoke insurance‑linked securities solutions that provide flexible, well‑aligned capacity for clients and capital partners, the company said on its website.