Tiptree Financial, Warburg Pincus to sell Fortegra for $1.65B in cash

DB Insurance, Tiptree and Warburg Pincus announced that the parties have signed an agreement for DB Insurance to acquire 100% of the outstanding shares of Fortegra, a U.S.-based specialty insurer, for approximately $1.65B in cash from Tiptree and Warburg Pincus. The transaction will be funded in cash with internal resources from DB Insurance. The transaction will mark the largest U.S. market entry by a Korean non-life insurer. The acquisition is subject to receipt of Tiptree stockholder approval, required regulatory approvals and other customary closing conditions and is expected to close in mid-2026.