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JACKSONVILLE, Fla.–(BUSINESS WIRE)–Sep 30, 2020–
Fortegra Financial Corporation (“Fortegra”), a leading specialty insurer and subsidiary of Tiptree Inc. (NASDAQ: TIPT) (“Tiptree”), announced today the formation of a new excess and surplus lines subsidiary, Fortegra Specialty Insurance Company.
Now that it has received approval in its domicile state of Arizona, Fortegra’s new E&S subsidiary is working to obtain the remaining regulatory approvals necessary to conduct business throughout the United States. Fortegra anticipates that underwriting within the E&S company will commence in the fourth quarter of 2020.
Richard Kahlbaugh, CEO of Fortegra, commented: “We have seen rates harden in the market. The catalysts for the hardening are diverse and as such we expect the trend to continue for the foreseeable future. Adding an excess and surplus lines company to our portfolio was