Tiptree files IPO for its Fortegra Group

Holding company Tiptree Inc. announced that its specialty insurance subsidiary Fortegra  has publicly filed a Registration Statement on Form S-1 with the SEC relating to a proposed initial public offering.

Tiptree expects Fortegra’s IPO to be a primary offering with the net proceeds used to execute its growth strategy and for working capital and general corporate purposes.

Fortegra intends to list securities on the New York Stock Exchange under the symbol “TFG”. The size of the proposed offering and price range for the proposed offering have not yet been determined. Tiptree expects to maintain majority ownership of Fortegra and believes a Fortegra IPO will create a platform to serve the future capital needs of the business.

Fortegra and its subsidiaries underwrite and administer a diverse set of admitted and surplus insurance products and warranty solutions across the US and Europe. The company generated $2.4 billion in premiums for the nine months ended September 30, 2023. Combined ratio stood at 90.5% for the same period.