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Benzinga
Benzinga
Business
Akanksha Bakshi

Tiptree And Warburg Pincus Sell Fortegra To DB Insurance

DB Warburg Pincus Insurance United States AM Best
Business,Handshake,For,Teamwork,Of,Business,Merger,And,Acquisition,successful,Negotiate,hand

DB Insurance Co. Ltd. reached an agreement to acquire The Fortegra Group Inc. from Tiptree Inc. (NASDAQ: TIPT) and private equity firm Warburg Pincus LLC in a $1.65 billion all-cash deal.

The purchase, announced Sept. 25, marks the largest U.S. market entry by a Korean non-life insurer and will give DB Insurance full ownership of Fortegra, a Jacksonville, Florida-based specialty insurer.

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