Fortegra launches in Belgium to access Europe’s ‘vibrant’ MGA market
Multinational specialty insurer Fortegra has announced it will expand into Europe with the launch of Fortegra Belgium Insurance Company, based in Brussels. The US-based group, a subsidiary of Tiptree, said the new base will be used to work with managing general agents in the European Union, offering specialty products and shared risk opportunities.
“The MGA space across Europe is vibrant and compelling and provides a tremendous growth opportunity,” said Rick Kahlbaugh, president and CEO at Fortegra. “We are thrilled to receive this license, which will allow us to provide innovative solutions to partners across Europe.”
Fortegra’s existing company registered in Malta, Fortegra Europe Insurance Company, will continue to write warranty lines of business, the company said. It also has existing offices in the UK and Czech Republic outside the US.
Earlier this year, Fortegra abandoned its plans for an initial public offering, citing prevailing market conditions and the high value Tiptree places on Fortegra and its growth prospects.
