© Reuters.
(Updated – December 19, 2023, 5:22 p.m. EST)
Fortegra Group (TFG) has filed for a planned IPO.
The company describes itself as follows: “We are a growing, consistently profitable and multinational specialty insurance company focused on underwriting complex and niche risks in underserved markets. Founded in 1978, we have a long-standing track record of disciplined and stable underwriting results while generating strong growth and attractive returns on capital. We are an underwriting-focused company with extensive expertise in the admitted and excess and surplus (“E&S”) lines of insurance and the fee-for-service, low-capital services markets. We aim for moderate risk limits and use a sophisticated reinsurance strategy to reduce volatility and protect our capital. We believe we win through our differentiated go-to-market strategy, our expertise in tailored underwriting solutions and the value-added services we offer to our channel partners. Our financial success is reflected in our average annual GWPPE growth rate (“CAGR”) of 25%, our average combined ratio of 91%, our average ROAE of 15% and average adjusted ROAE of 21%, each measured from 2019 to 2019 September 30, 2023.”
Goldman Sachs & Co (NYSE:) LLC, JP Morgan and Jefferies will serve as lead underwriters.
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