The Prudential Regulation Authority (PRA) has granted Fortegra, a global specialty insurer and subsidiary of Tiptree, approval to establish Fortegra Insurance Company UK, its new subsidiary in the United Kingdom.
Fortegra has established a strong reputation in the Managing General Agents (MGAs) and Managing General Underwriters (MGUs) market. This success is driven by their rigorous underwriting practices for program business, cutting-edge use of AI and data science, and a dedication to reliable claims management.
By focusing on these key areas, Fortegra effectively adapts to the changing demands of their agent partners and policyholders, solidifying their position as a market leader.
Richard Kahlbaugh, Fortegra’s chief executive officer, said: “We’re pleased to announce the establishment of Fortegra Insurance Company UK. Our objective is simple. We focus our efforts on establishing Fortegra as a quality market serving MGAs and agents seeking to underwrite niche programmes.
“The foundation of our past success, underwriting discipline, will serve Fortegra well as we enter the marketplace in the United Kingdom.”
The recent licensing of Fortegra UK presents an opportunity for the company to bolster its presence in the UK and London, a move that also demonstrates commitment to expanding its reach across Europe, the firm noted.
This strategic initiative leverages previous successes achieved in Belgium and the wider European Union.
Since 2018, Fortegra has expanded in the region by establishing strong partnerships and delivering innovative underwriting solutions. Its focus positions the company well for future growth.
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