DB Insurance to acquire U.S.-based insurer Fortegra

* DB Insurance, Tiptree (NASDAQ:TIPT [https://seekingalpha.com/symbol/TIPT]) and Warburg Pincus said on Thursday that they have signed an agreement [https://seekingalpha.com/pr/20245494-db-insurance-to-acquire-u-s-based-insurer-fortegra] for DB Insurance to acquire 100% of the outstanding shares of The Fortegra Group, a U.S.-based specialty insurer, for approximately $1.65 billion in cash from Tiptree and Warburg Pincus.
* The transaction will be funded in cash with internal resources from DB Insurance.
* For 2024, Fortegra reported gross written premiums of $3.07B and net income of $140M. It operates in all 50 U.S. states and eight European countries, including the U.K. and Italy, and holds an A- financial strength rating from A.M. Best.

MORE ON TIPTREE

* Tiptree: Putting Chips On Fixed Income [https://seekingalpha.com/article/4819182-tiptree-putting-chips-on-fixed-income]
* Dividend scorecard for Tiptree [https://seekingalpha.com/symbol/TIPT/dividends/scorecard]
* Financial information for Tiptree [https://seekingalpha.com/symbol/TIPT/income-statement]