Tiptree completed the $1.65bn all-cash sale of Fortegra Group, boosting its pro-forma book value to $23.80 per diluted share and enabling a new $20m share repurchase programme. Fortegra, which generated $3.07bn in gross written premiums and $140m net income in 2024, exits to DB Insurance.
Tiptree has finalized the sale of its specialty insurer Fortegra Group to DB Insurance for $1.65bn in cash, following shareholder approval in December and completion of the merger through a DB Insurance subsidiary.
The transaction lifts Tiptree’s pro-forma book value to approximately $23.80 per diluted share and triggers a newly approved $20m share repurchase programme aimed at returning capital to shareholders.
Founded in 1978 and based in Jacksonville, Florida, Fortegra reported $3.07bn in gross written premiums and $140m in net income during 2024, with licences across all 50 US states and operations in eight European countries.
The divestiture marks the culmination of Tiptree’s multi-year strategy to build a global specialty insurance platform, freeing capital for reinvestment and enabling focused growth in core insurance businesses.
