Fortegra Receives UK Branch Authorisation from The Prudential Regulatory Authority

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09/22/2022 - 03:00 AM

LONDON--(BUSINESS WIRE)-- The Fortegra Group, Inc. (“Fortegra”), a global specialty insurer and subsidiary of Tiptree Inc. (NASDAQ: TIPT), today announced that its European insurer, Fortegra Europe Insurance Company Ltd. (“FEICL”), received UK Branch approval from the UK’s Prudential Regulatory Authority, effective July 28, 2022.

The authorisation solidifies Fortegra's ability and commitment to its UK operations, whilst retaining its appetite and plan to continue developing its footprint in the rest of Europe. The approval brings an end to the company’s participation in the post-Brexit Temporary Permissions Regime, which initially allowed Fortegra to continue servicing the UK region until the end of 2023.

“We are excited to continue operating in such a critical market for our company,” said Sanjay Vara, Chief Underwriting Officer. “With renewed clarity, we will continue to develop our UK and European growth strategies, providing the superior service our partners have grown to expect of us over the last five years.”

Fortegra expanded its global operations to the UK in 2017, domiciled FEICL in Malta in March 2018 and launched its first program in November of the same year.

About Fortegra

For more than 40 years, Fortegra and its subsidiaries have underwritten risk management solutions that help people and businesses succeed in the face of uncertainty. As a global specialty insurer, we offer a diverse set of admitted and surplus insurance products and warranty solutions. Fortegra's A.M. Best Financial Strength Rating of A- (Excellent) is a result of our strict underwriting standards, consistent profitability, and high cash flows. For more information, please visit: https://www.fortegra.com.