DB Insurance Pursues Acquisition of U.S. Insurer 'Fortegra'

DB Insurance is pursuing the acquisition of Fortegra, a U.S. insurance company specializing in auto insurance.

According to the insurance industry on June 30, DB Insurance recently completed due diligence for the acquisition of Fortegra and is currently negotiating the purchase price. The company aims to finalize negotiations around July or August. It has been reported that DB Insurance is seeking to acquire 100% of Fortegra's shares.

Fortegra, a subsidiary of Tiptree that underwrites and manages specialty insurance products, operates in the fields of specialty insurance and vehicle service contracts. As of the end of last year, its assets were approximately 7.3 trillion won.

Some sources estimate Fortegra's company value at around 2 trillion won. A DB Insurance representative stated, "It is true that we are pursuing the acquisition of Fortegra, but nothing has been finalized yet, including the sale price."

DB Insurance