Tiptree shareholders have approved the previously announced merger agreement for DB Insurance to acquire all outstanding shares of the Fortegra Group.
As part of this deal, DB Insurance’s wholly owned subsidiary will be merged into Fortegra.
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Fortegra will operate as a completely owned DB Insurance subsidiary after completion of the merger.
Preliminary figures show that roughly 81% of shareholders who voted at the special meeting supported the merger plan.
The merger is expected to conclude in mid-2026, pending regulatory review and other standard closing requirements.
Tiptree will submit a Form 8-K to the US Securities and Exchange Commission containing the results from the shareholder vote at the special meeting.
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By GlobalDataTiptree executive chairman Michael Barnes said: “We appreciate the consideration and overwhelming support from our shareholders in approving the merger proposal.
“This transaction represents a significant milestone in Tiptree’s 18 years of value-creation and we are committed to continuing our strong track record of creating long-term shareholder value.”
Under the agreement signed in September, DB Insurance is buying Fortegra from Tiptree and Warburg Pincus for $1.65bn in cash.
Fortegra was founded in 1978 and is based in the US.
The company works as a specialty insurer with operations throughout the US and some European countries.
DB Insurance first established its presence in the US market through a branch in Guam in 1984.
Through this acquisition, the company will increase its access to casualty and property insurance markets, extend its involvement in warranty and surety products, and diversify both its regional reach and service range.
