Fortegra Secures $150 Million in Capital to Support Growth
Tiptree Inc. (TIPT)
US:NASDAQ Investor Relations:
tiptreefinancial.com
Company Research
Source: PR Newswire
Junior subordinated notes issuance comes in anticipation of growing Fortegra's operationsJACKSONVILLE, Fla., Nov. 8, 2024 /PRNewswire/ -- The Fortegra Group, Inc. ("Fortegra"), a multinational specialty insurer and subsidiary of Tiptree Inc. (NASDAQ:TIPT), today announced the successful completion of $150 million of 9.25% Fixed Rate Resetting Junior Subordinated Notes due 2064 (the "Notes"). The Notes, to be issued under an indenture, will be junior, subordinated and unsecured obligations of Fortegra, and will be guaranteed on a junior subordinated basis by certain subsidiaries of Fortegra."This strategic financing enables Fortegra to drive profitable growth and optimally manage risk for our partners and policyholders across the US and Europe," said Ed Peña, Chief Financial Officer. "By strengthening our capital position, we can further enhance our specialty insurance offerings, expand our warranty and consumer products businesses, and diversify our risk portfolio."This investment wil
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TIPT
News
- Tiptree Inc. (NASDAQ: TIPT) was downgraded by analysts at StockNews.com from a "strong-buy" rating to a "buy" rating.MarketBeat
- Tiptree Announces Third Quarter 2024 ResultsBusiness Wire
- Richard Mangion Appointed CFO of Fortegra Europe [Yahoo! Finance]Yahoo! Finance
- Richard Mangion Appointed CFO of Fortegra EuropePR Newswire
- Richard Mangion Appointed CFO of Fortegra EuropePR Newswire
TIPT
Sec Filings
- 11/15/24 - Form 4
- 11/1/24 - Form 4
- 10/30/24 - Form 10-Q
- TIPT's page on the SEC website