TIPTREE INC. DL-,001

Tiptree has completed the sale of The Fortegra Group to DB Insurance, providing the company with substantial liquidity and resulting in a pro-forma book value of approximately $23.80 per diluted share. The share price is $18.24, which is below the pro-forma book value. Tiptree approved a $20 million share repurchase program and said it will focus going forward on capital allocation and strategic acquisitions in the financial services sector. The company has maintained its dividend for 12 years. » More on de.investing.com

Tiptree expects the closing of the sale of its subsidiary The Fortegra Group to DB Versicherungen for $1.65 billion in cash on May 29, subject to customary closing conditions. The transaction will be effected by merger, under which Fortegra will become a 100% subsidiary of DB Versicherungen upon closing, and the purchase price may be subject to certain adjustments. Tiptree has a market capitalization of $637 million and the stock is about 21% lower year‑to‑date than a year ago. » More on de.investing.com

At a special general meeting, roughly 81% of votes cast approved DB Insurance’s acquisition of the Fortegra Group in an all‑cash transaction. Upon closing, Fortegra will become a wholly owned subsidiary of DB Insurance; completion is targeted for mid‑2026 and is subject to customary closing conditions and regulatory approvals. Ahead of the vote there was opposition from Veradace Partners and some proxy advisers, while ISS recommended approval; Tiptree said it will publish the final results in a Form‑8‑K with the SEC. » More on de.investing.com