Leading specialty insurer prepared to bring underwriting programs to EU
JACKSONVILLE, Fla. (March 28, 2018) – 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.
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.