Korean insurer completes acquisition of US insurer with UK subsidiary

Korean insurer DB Insurance has completed its acquisition of The Fortegra Group.

Based in Florida, Fortegra is a US speciality insurer. In December 2024, it received the green light to launch a new subsidiary in the UK from the Prudential Regulation Authority, with the firm making the move to expand its speciality insurance underwriting services.

The acquisition is expected to provide DB Insurance with a platform for global growth in the largest property and casualty (P&C) markets, enable entry into the surety and warranty sectors and enhance earnings stability through broader geographic and business-line diversification.

The deal, first announced on 26 September 2025, received all required regulatory and stockholder approvals before closing on 29 May 2026.

Fortegra will operate independently, maintaining its existing leadership team, distribution relationships and underwriting discipline.

Richard Kahlbaugh, chairman and chief executive at Fortegra, said: “Every company eventually changes ownership. That is the nature of business. The closing of this acquisition is a starting point.

”As part of DB Insurance, Fortegra is positioned to expand our business geographically, enhance our capabilities and deepen our market presence in the US, Europe, the UK and Asia. Together, DB Insurance and Fortegra intend to build a recognised leader in the global specialty insurance market.”

’Culmination of a multiyear strategy’

DB Insurance has acquired the firm from Tiptree and Warburg Pincus.

“We are pleased to have successfully completed the sale of Fortegra, which represents the culmination of a multiyear strategy to build and scale a global specialty insurance platform,” said Michael Barnes, chairman and chief executive at Tiptree.

“Looking ahead, we are well positioned to focus on the next phase of our strategy – driving long-term value through disciplined capital allocation and strategic acquisitions, with a particular emphasis on financial services, including insurance, asset management and specialty finance.”

Dan Zilberman, global head of capital solutions and global co-head of financial services at Warburg Pincus, added: ”We have greatly valued the opportunity to work alongside Kahlbaugh, the Fortegra management team and our partners at Tiptree during this important period for the company.

”As the company enters this next phase, Fortegra is coming from a place of strength and we look forward to following their future success.”