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Forge Group Inc. (FIGP) is a specialist commercial auto insurance business based in BETHESDA, Md. The company focuses on delivering commercial auto insurance products to small business owners and operators in specific business class segments and geographic markets in the U.S. In 2023, Forge had a transformational year with the launch of a new digital insurance operating platform, a significant increase in active distribution partners, growth in gross premiums written, and progress towards reaching profitability on a pre-tax operating basis. The company also announced a stock repurchase plan to enhance shareholder value.
Forge Group, Inc. reported its full-year 2023 financial results, showing growth in premium revenue, improvements in loss and expense ratios, and progress towards profitability. The company converted to a new digital insurance platform and increased its number of active distribution partners significantly. Despite an underwriting loss in 2023, Forge remains optimistic about its strategic direction and future growth prospects.
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