DB Insurance to acquire Fortegra from Tiptree and Warburg Pincus for $1.65bn.

DB Insurance, a South Koreaan non-life insurer company, agreed to acquire Fortegra, a US-based specialty insurer from Tiptree, a US-based company that provides specialty insurance products, and Warburg Pincus, a private equity firm, for $1.65bn. “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, DB Insurance Head of Global Business.