DB Insurance acquires U.S. insurer Fortegra for $1.65 bil.

DB Insurance acquires U.S. insurer Fortegra for $1.65 bil.

DB Insurance, a major non-life insurer here, said Friday that it has signed a $1.65 billion deal to take over a U.S. insurer, the largest-ever over...

South Korea's DB Insurance to acquire Fortegra in $1.65bn deal

DB Insurance Co., Ltd., the second largest non-life insurer in South Korea, is set to acquire 100% of the outstanding shares of The Fortegra Group, Inc., a US-based specialty insurer, for approximately $1.65 billion (approximately KRW 2.3 trillion) in cash, from Tiptree and Warburg Pincus. The takeover is expected to provide DB Insurance with a platform for global growth in the world’s largest property and casualty (P&C) markets. Expected to clo…