Tiptree extends slump after announcing Fortegra sale
ReutersSep 26, 2025 2:34 PM
** Investment manager Tiptree's TIPT.O shares slide 7.8% to $18.60
** South Korea's DB Insurance 005830.KS will buy U.S.-based insurer Fortegra from Tiptree and buyout firm Warburg Pincus in a $1.65 billion all-cash deal, the companies announced late Thursday
** TIPT stock plunged 15% on Thursday after media reports said Fortegra had agreed to be acquired
** TIPT had previously twice tried to take Fortegra public in New York since 2021 to monetize the asset
** As of last close, TIPT stock down 3.3% YTD
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