Tiptree Financial’s Fortegra announces withdrawal of initial public offering

The Fortegra Group, a multinational specialty insurer and subsidiary of Tiptree, announced that due to prevailing market conditions and the high value Tiptree and Warburg Pincus place on Fortegra and its growth prospects, Tiptree and Warburg have decided to withdraw the registration statement relating to the previously announced initial public offering by Fortegra. Tiptree and Warburg remain committed to supporting Fortegra as it continues to execute its growth strategy.