Fortegra Confirms AM Best Assigns Credit Rating to Fortegra Specialty Insurance
Fortegra Financial Corporation, a subsidiary of Tiptree (NASDAQ: TIPT), received an AM Best Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Ratings of 'a-' for its new subsidiary, Fortegra Specialty Insurance Company (FSIC). This newly established excess and surplus lines insurer will commence underwriting programs shortly. The ratings' outlook is stable, reflecting Fortegra's commitment to enhancing its agent distribution model while delivering innovative insurance solutions.
- AM Best assigned an A- (Excellent) rating to FSIC, indicating strong financial health.
- The new E&S subsidiary is expected to create innovative insurance programs, enhancing Fortegra's market position.
- None.
JACKSONVILLE, Fla.--(BUSINESS WIRE)--Fortegra Financial Corporation (“Fortegra”), a leading specialty insurer and subsidiary of Tiptree Inc.(NASDAQ: TIPT) (“Tiptree”), announced today AM Best assigned the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” to Fortegra Specialty Insurance Company (FSIC) (Arizona), the newly established excess and surplus lines (E&S) subsidiary of Fortegra. The outlook assigned to these Credit Ratings (ratings) is stable. The company will begin underwriting excess and surplus lines programs concurrent with this announcement.
“We are committed to the agent distribution model and accelerating our ability to respond to opportunities presented to us by our agents. Adding an E&S company to our portfolio furthers that goal,” said Richard Kahlbaugh, Fortegra’s Chief Executive Officer. “Through FSIC, Fortegra will continue to marry speed to market, thorough underwriting and a strong balance sheet to deliver new and innovative insurance programs through an agent-focused distribution model.”
Read A.M. Best’s official announcement.
About Fortegra Financial Corporation
Fortegra Financial Corporation (a Tiptree Inc. company (NASDAQ: TIPT), is a leading provider of specialty insurance and warranty solutions, and is the second-largest credit insurer in the United States. Fortegra and its subsidiaries provide a comprehensive and diverse set of best-in-class insurance products and warranty solutions available across the United States and around the world. Fortegra leverages a team of experienced underwriters and proprietary artificial intelligence technology to enhance the underwriting process to deliver a broad array of solutions that provide superior coverage and value to its customers.
Since 1978, the Company’s collaborative approach and innovative products have fueled rapid growth and increasing demand from both domestic and international partners. Fortegra holds AM Best Financial Strength Rating of A- (Excellent) Financial Category VIII. For more information on Fortegra visit: https://www.fortegra.com/
