Fortegra Secures $150 Million in Capital to Support Growth

Core Viewpoint - Fortegra Group, Inc. has successfully completed the issuance of $150 million in junior subordinated notes to support its growth and enhance its capital position, enabling the company to expand its specialty insurance offerings and manage risks effectively [1][2][3]. Group 1: Financial Details - The company issued $150 million of 9.25% Fixed Rate Resetting Junior Subordinated Notes due 2064, which are junior, subordinated, and unsecured obligations [1]. - The notes will be guaranteed on a junior subordinated basis by certain subsidiaries of Fortegra [1]. Group 2: Strategic Objectives - The financing will allow Fortegra to deepen partner relationships through tailored insurance solutions [2]. - It aims to enhance risk management capabilities to protect the interests of partners and policyholders [2]. - The company plans to boost profitability through targeted growth initiatives [2]. Group 3: Commitment to Value - Fortegra emphasizes its commitment to delivering long-term value to partners, policyholders, and shareholders while focusing on risk management and operational excellence [3]. - The company is well-positioned to capitalize on market opportunities [3]. Group 4: Company Background - Fortegra has over 45 years of experience in underwriting risk management solutions and holds an A.M. Best Financial Strength Rating of A- (Excellent) [4]. - The company offers a diverse set of admitted and excess and surplus lines insurance products and warranty solutions [4].