The Fortegra Group, Inc., a multinational specialty insurer and subsidiary of Tiptree Inc., announced the successful completion of a $150 million offering of 9.25% Fixed Rate Resetting Junior Subordinated Notes due 2064. These Notes are junior, subordinated, and unsecured obligations of Fortegra, guaranteed on a junior subordinated basis by certain subsidiaries.
This strategic financing initiative is designed to drive profitable growth and enhance risk management across Fortegra's operations in the U.S. and Europe. The capital infusion will strengthen the company's financial position, enabling it to further expand its specialty insurance offerings and warranty and consumer products businesses.
Ed Peña, Fortegra's Chief Financial Officer, stated that this transaction demonstrates a commitment to delivering long-term value to partners, policyholders, and shareholders. The additional capital positions Fortegra to capitalize on market opportunities while maintaining a strong focus on risk management and operational excellence.
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