Tiptree to take Fortegra public

Holding company Tiptree Inc. announced its intention to take its specialty insurance subsidiary Fortegra public.

Tiptree expects the Fortegra IPO to be a primary offering with the proceeds used to support Fortegra’s growth. The company also expects to maintain majority ownership of Fortegra and believes a Fortegra IPO will create a platform to serve the future capital needs of the business.

Fortegra and its subsidiaries underwrite and administer a diverse set of admitted and surplus insurance products and warranty solutions across the US and Europe. The company generated $2.4 billion in premiums for the nine months ended September 30, 2023. Combined ratio stood at 90.5% for the same period.