Leading specialty insurer prepared to bring underwriting programs to
EU
JACKSONVILLE, Fla.--(BUSINESS WIRE)--
Fortegra
Financial Corporation (“Fortegra”), a leading international
specialty insurer and subsidiary of Tiptree Inc. (NASDAQ:TIPT)
(“Tiptree”), today announces the creation of a wholly-owned European
subsidiary—Fortegra Europe Insurance Company Limited (FEIC)—based in
Malta. Following regulatory authorization by the Malta Financial
Services Authority (MFSA), FEIC is ready to write business immediately.
Initially, FEIC will utilize its access to the European Economic Area
(EEA) to write business aligned with Fortegra’s position as a warranty
and consumer products provider.
“The formation of FEIC is an exciting and important milestone in our
international growth strategy as it establishes a key strategic platform
for us to become a leading European warranty insurer,” said Sanjay Vara,
Fortegra’s Executive Vice President and Chief Underwriting Officer for
Warranty and Consumer Products.
FEIC’s Maltese presence provides Fortegra with opportunities to continue
to build relationships in the international insurance community.
Additionally, Fortegra’s A.M. Best A- (Excellent) financial strength
rating for its group of U.S.-based companies will assist FEIC’s initial
engagement with some of Europe’s premier business organizations.
“Since Fortegra’s inception we’ve never been satisfied to maintain the
status quo,” said Fortegra President and CEO Richard Kahlbaugh. “From
adding new growth lines to increasing our international presence, we’re
always looking for opportunities to build the brand—and we’re very
excited for this opportunity to help European partners and
consumers Experience More. We are thrilled to expand our business in
Malta and have enjoyed working with the MFSA leadership as we formed the
Company. ”
For more information on FEIC and Fortegra products and services, visit www.fortegra.com.
About Fortegra
Fortegra
Financial Corporation (a Tiptree 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 domestic and international partners and their customers, Fortegra
solves immediate, everyday needs, empowering consumers to worry less and
Experience More.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180328005295/en/
BLASTmedia for Fortegra
Emily Cress, 317-806-1900 ext. 137
emily_cress@blastmedia.com
Source: Fortegra Financial Corporation