Financial Strength Rating elevated to A- with a stable outlook
JACKSONVILLE, Fla.--(BUSINESS WIRE)--
Fortegra,
a Tiptree
Financial Inc. company (NASDAQ:TIPT), today is proud to announce the
upgrade of its A.M. Best Financial Strength Rating (FSR) to A-
(Excellent). The company’s Issuer Credit Rating (ICR) also received an
upgrade from A.M. Best to a- for Fortegra’s rated operating subsidiaries.
“A.M. Best is the world’s foremost authority on insurance ratings, and
we are very pleased to be considered in such high standing by this
prestigious organization,” said Fortegra CEO Richard Kahlbaugh. “We’ve
worked diligently with our financial partners at Tiptree Financial to
improve our financial leverage, and our efforts have been rewarded with
this upgrade.”
Fortegra’s property and casualty operating subsidiaries include Lyndon
Southern Insurance Company (Lyndon Southern), Insurance Company of the
South (ICOTS), and Response Indemnity of California (RIC). These
subsidiaries operate as part of an intercompany pooling agreement
collectively referred to as “Fortegra P&C Group”. The company’s life and
health operating subsidiaries include Life of the South Insurance
Company, Bankers Life of Louisiana, and Southern Financial Life
Insurance Company, collectively known as “Life of the South Group”.
In addition to the upgraded ratings, A.M. Best also assigned an FSR of
A- (Excellent) and an ICR of a- to Response Indemnity of California. All
ratings outlooks are stable.
“We’re delighted that A.M. Best has upgraded Fortegra’s financial
strength rating as well as the issuer credit ratings of our insurance
underwriting companies,” said Fortegra Executive Vice President and CFO
Michael Grasher. “These upgrades provide Fortegra with opportunities to
expand underwriting markets, increase risk selection, and to continue
profitable growth.”
For more on Fortegra’s ratings upgrades, see A.M. Best’s official
announcement here. To learn more about Fortegra products and
services, visit fortegra.com.
About Fortegra
Fortegra
Financial Corporation (a Tiptree Financial Inc. company) and its
subsidiaries comprise a single-source insurance services provider that
offers a range of consumer protection options including warranty
solutions, credit insurance, and specialty underwriting programs.
Delivering multifaceted coverage with an unmatched service experience
for both partners and their customers, Fortegra solves immediate,
everyday needs, empowering consumers to worry less and Experience More.
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BLASTmedia for Fortegra
Lydia Beechler
317-806-1900 ext. 106
Lydia@blastmedia.com
Source: Fortegra