Overview
- DB Insurance signed an agreement to buy 100% of Fortegra from Tiptree and Warburg Pincus using internal funds.
- The transaction requires regulatory and shareholder approvals, including a Tiptree vote, and features a no‑shop provision with a $49.5 million break fee under certain conditions.
- Fortegra, founded in 1978, operates across all 50 U.S. states and eight European countries, focusing on specialty insurance and warranty products.
- The insurer reports a long‑term combined ratio near 90% and holds an A- financial strength rating from A.M. Best, while DB carries A+ ratings.
- Fortegra’s 2024 gross written premiums were about $3.07 billion, though published reports diverge on net income at $140 million versus roughly $1.4 billion.