Partnership expands Fortegra's Automotive
Market Solutions in the U.K. and Ireland
LONDON, Feb. 9, 2023 /PRNewswire/ -- The Fortegra Group,
Inc. ("Fortegra"), a global specialty insurer, and subsidiary of
Tiptree Inc. (NASDAQ: TIPT), today announced it has acquired a
majority interest in Premia Solutions Limited (Premia), one of the
largest United Kingdom-based
intermediaries and a trusted provider of automotive protection
products. The deal continues Fortegra's rapid growth across
Europe and the U.K., a region it
expanded to in 2017.
"We are excited to join forces with Premia, a market leader and
Fortegra partner since 2018," said Sanjay
Vara, Chief Underwriting Officer and Executive Vice
President at Fortegra. "Coupled with our acquisition last year of
ITC Compliance Limited – the U.K.'s largest secondary intermediary
Financial Conduct Authority (FCA) Network – we, as a Group, are now
well positioned as a vertically integrated, single source provider
for the Automotive Finance and Insurance sector. Together we will
continue to innovate and provide quality, compliant products and
services for our clients."
Premia supports more than 2,000 automotive dealerships and
leasing brokers throughout the U.K. and Ireland, offering a suite of innovative add-on
insurance and warranty products. Premia, founded in 2000, leverages
industry expertise and market research to design and successfully
launch consumer-focused solutions.
"Premia Solutions has established itself over the last 20 years
in partnership with many of the largest dealer groups in the U.K.
This investment provides Premia with the opportunity to take its
next step and continue to grow its business and clients in the U.K.
automotive market. Expanding an already strong partnership, adding
the financial strength and strong, growing reputation of Fortegra,
we will continue to develop industry-leading solutions that enable
our clients to meet the needs of their customers in today's
evolving marketplace," said Conrad
Gamble, Premia's Founder and CEO.
Fortegra's other automotive administration services are based in
Prague, Czech Republic, which will
continue to service its growing EU business.
About Fortegra
For more than 40 years, Fortegra and its subsidiaries have
underwritten risk management solutions that help people and
businesses succeed in the face of uncertainty. As a global
specialty insurer, we offer a diverse set of admitted and surplus
insurance products and warranty solutions. Fortegra's A.M. Best
Financial Strength Rating of A- (Excellent) is a result of our
strict underwriting standards, consistent profitability, and high
cash flows. For more information, please visit:
https://www.fortegra.com.
Contact:
media@fortegra.com
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