DB Insurance to acquire Fortegra

DB Insurance has agreed to acquire
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Fortegra

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, a Jacksonville-based specialty insurer, from Tiptree and Warburg Pincus for $1.65 billion in cash. The deal marks the largest U.S. market entry by a Korean non-life insurer and is expected to close in mid-2026, pending regulatory and shareholder approvals.

Founded in 1978, Fortegra offers specialty insurance, credit protection, affinity and embedded insurance, warranty and auto F&I solutions, commercial coverage, and premium financing. It reported 2024 gross written premiums of $3.07 billion and net income of $140 million. The company operates in all 50 US states and eight European markets, including the UK and Italy, and carries an A- financial strength rating from A.M. Best.

Tiptree has owned Fortegra since 2014 and partnered with Warburg Pincus in 2021. For DB Insurance, the acquisition provides scale in P&C markets, entry into surety and warranty lines, and broader geographic diversification.

“This acquisition will mark the first-ever purchase of a U.S. insurer by a Korean non-life insurer and represents a turning point for DB Insurance in its journey to become a global insurer. By combining Fortegra’s expertise with DB Insurance’s global network and capital strength, we aim to enhance customer value and market competitiveness while simultaneously achieving our dual objectives of increasing shareholder value and contributing to the national economy.” – Ki-Hyun Park, Head of Global Business at DB Insurance.

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