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Tiptree shareholders approve DB Insurance purchase of Fortegra
Yahoo Financeยท 2025-12-05 11:11
Core Viewpoint - Tiptree shareholders have approved the merger agreement for DB Insurance to acquire all outstanding shares of Fortegra Group, with approximately 81% of voting shareholders supporting the plan [1][2][3] Group 1: Merger Details - The merger is expected to conclude in mid-2026, pending regulatory review and other standard closing requirements [2] - DB Insurance is acquiring Fortegra for $1.65 billion in cash, with Fortegra to operate as a wholly owned subsidiary of DB Insurance post-merger [3][4] - Tiptree will submit a Form 8-K to the US Securities and Exchange Commission detailing the results of the shareholder vote [2] Group 2: Company Background - Fortegra, founded in 1978 and based in the US, operates as a specialty insurer with a presence in the US and some European countries [3] - DB Insurance established its presence in the US market in 1984 through a branch in Guam [4] - The acquisition will enhance DB Insurance's access to casualty and property insurance markets, expand its involvement in warranty and surety products, and diversify its regional reach and service range [4]