LONDON, Dec. 4, 2024
/PRNewswire/ -- The Fortegra Group, Inc. ("Fortegra" or "the
Company"), a global specialty insurer and subsidiary of Tiptree
Inc. (NASDAQ: TIPT), today announced that it has received approval
to establish Fortegra Insurance Company UK.
The Prudential Regulation Authority (PRA) has granted Fortegra
approval to establish its subsidiary in the United Kingdom, effective November 29, 2024. This milestone enables
Fortegra to significantly expand its specialty insurance
underwriting services throughout the United Kingdom.
Recognised as a quality market for Managing General Agents
(MGAs) and Managing General Underwriters (MGUs), Fortegra excels
through its rigorous programme business underwriting, advanced AI
and data science applications, and a steadfast commitment to
consistent claims management. Fortegra's underwriting approach
ensures that the company effectively meets the evolving needs of
agent partners and policyholders, cementing its market
leadership.
"We're pleased to announce the establishment of Fortegra
Insurance Company UK," said Richard
Kahlbaugh, Fortegra's chief executive officer. "Our
objective is simple. We focus our efforts on establishing Fortegra
as a quality market serving MGAs and agents seeking to underwrite
niche programmes. The foundation of our past success, underwriting
discipline, will serve Fortegra well as we enter the marketplace in
the United Kingdom."
The licensing of Fortegra UK provides an excellent opportunity
to enhance the company's presence in the UK and London markets, demonstrating its commitment
to expanding in Europe. This
strategic initiative builds on previous successes in Belgium and the EU.
Since entering the region in 2018, Fortegra has effectively
expanded its reach through thoughtful geographic growth and
establishing strong partnerships with reputable agents and MGAs.
The company's focus on delivering innovative and collaborative
underwriting solutions positions it well for future growth and
success.
About Fortegra
For more than 45 years, Fortegra,
via its subsidiaries, has underwritten risk management solutions
that help people and businesses succeed in the face of uncertainty.
As a multinational specialty insurer whose insurance subsidiaries
have an A.M. Best Financial Strength Rating of A- (Excellent) and
an A.M. Best Financial Size Category of 'X', we offer a diverse set
of admitted and excess and surplus lines insurance products and
warranty solutions. For more
information: www.fortegra.com.
Contact
Media@fortegra.com
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