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Fortegra Acquires Itc Compliance

Apr 05, 2022•over 3 years ago

Acquiring Company

Fortegra

Acquired Company

ITC

JacksonvilleInsuranceOtherSoftware

Description

The Fortegra Group, LLC ("Fortegra"), a global specialty insurer, and subsidiary of Tiptree Inc. (NASDAQ: TIPT), today announced it has completed its acquisition of ITC Compliance GRP Limited ("ITC"), the United Kingdom's largest secondary intermediary Financial Conduct Authority (FCA) Network.

Company Information

Company

Fortegra

Location

Jacksonville, North Carolina, United States

About

For more than 40 years, Fortegra and its subsidiaries have underwritten risk management solutions that help people and businesses succeed in the face of uncertainty. As a global specialty insurer, we offer a diverse set of admitted and surplus insurance products and warranty solutions. Fortegra's A.M. Best Financial Strength Rating of A- (Excellent) is a result of our strict underwriting standards, consistent profitability, and high cash flows. For more information, please visit: https://www.fortegra.com.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed

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