Tiptree has announced that its shareholders have approved the previously disclosed agreement for DB Insurance Co., Ltd. to acquire all outstanding shares of The Fortegra Group, Inc., a global specialty insurer and subsidiary of Tiptree, at the company’s Special Meeting of Shareholders.
On 24th November, proxy advisory firms reportedly differed in their assessments of the proposed sale, setting the stage for a contentious shareholder vote at the company’s Special Meeting.
According to the preliminary results, approximately 81% of votes cast at the Special Meeting by all shareholders were voted in favour of the merger proposal.
Michael G. Barnes, Executive Chairman of Tiptree, said, “We appreciate the consideration and overwhelming support from our shareholders in approving the Merger Proposal.
“This transaction represents a significant milestone in Tiptree’s 18 years of value-creation and we are committed to continuing our strong track record of creating long-term shareholder value.”
Tiptree continues to expect the merger to close in mid-2026, subject to customary closing conditions, including the receipt of required regulatory approvals.
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