DB Insurance to Acquire U.S. Specialty Carrier Fortegra for $1.65B

South Korean insurer DB Insurance is set to acquire U.S. specialty insurance carrier Fortegra for approximately $1.65 billion. This acquisition follows TIPT's decision to shelve the planned IPO of Fortegra in New York twice since 2021. TIPT originally acquired Fortegra in 2014 for $218 million in cash, and this transaction marks a significant appreciation in value, as evidenced by TIPT’s stock price gains this year.