Tencent Holdings Limited (SEHK:700) along with other Chinese tech and financial firms agreed to acquire 63% stake in Samsung Fire & Marine Insurance Co. (China) Ltd. from Samsung Fire & Marine Insurance Co., Ltd. (KOSE:A000810) on November 30, 2020. Samsung Fire & Marine Insurance Co., Ltd. (KOSE:A000810) will hold 37% stake, Tencent Holdings Limited (SEHK:700) will hold 32% and 31% will be hold by other Chinese tech and financial firms in Samsung Fire & Marine Insurance Co.

(China) Ltd. Samsung Fire & Marine Insurance Co., Ltd. (KOSE:A000810) affiliate Samsung Fire & Marine Insurance Co. (China) Ltd will transform into the joint venture co-managed by the two companies following Tencent's investment.