Tiptree: Fortegra Europe creates a Czech subsidiary
A leading specialist insurer strengthens its local presence in Central and Eastern Europe
Fortegra Europe Insurance Company (“Fortegra” or “Company”), a leading international specialist insurer and subsidiary of Tiptree Inc. (NASDAQ: TIPT) (“Tiptree”), today announced the registration of a branch office in Prague, in the Czech Republic. The creation of which will further strengthen Fortegra’s European presence. The Czech branch has all regulatory approvals and is ready to do business in the Czech Republic with immediate effect.
Fortegra chose Prague for its strategic location in the heart of Europe and its proximity to Fortegra’s administrator for Central and Eastern Europe, DEFEND INSURANCE GROUP (“DEFEND”), headquartered in Prague.
The branch will be led by Andrew Quirke, whose experience in the auto insurance industry spans 25 years and in five countries. Quirke co-founded DEFEND, which was acquired in 2019 by Fortegra. In addition to his industry expertise, he has in-depth knowledge of the local market, which will help the Company to further expand its presence in the region.
“I am delighted with the many opportunities that the Prague branch offers to the Czech insurance market. Brokers and agents will now have a direct relationship with an insurer that has a local presence in the country, ”said Andrew Quirke, general representative of the branch.
Sanjay Vara, Executive Vice President and Chief Underwriter, said: “The opening of this branch is another step forward for our European growth strategy. By providing Central and Eastern European partners direct access to an A rated insurer, we hope to instill confidence and confidence in compliance. ”
The establishment of the branch underlines the Company’s continued confidence in the long-term growth potential of Central and Eastern Europe. The Czech branch will create new avenues for growth by offering the same innovative, flexible and customer-oriented programs that have made DEFEND’s hallmark of success.
Fortegra Europe Insurance Company is a subsidiary of The Fortegra Group, LLC, a global specialty insurer. Fortegra and its subsidiaries underwrite and administer a comprehensive and diverse set of admitted and excess insurance products and warranty solutions in the United States and around the world. For more than 40 years, Fortegra’s collaborative approach, experienced team and innovative products have fueled constant growth and increasing demand from national and international partners. The Company has an AM Best financial strength rating of A- (Excellent). For more information on Fortegra, visit: https://www.fortegra.com/.
Fortegra Europe Insurance Company Ltd (company registration number in Malta C 84703) is headquartered at office 13, SOHO Office The Strand, Fawwara Building, Triq I-Imsida, Gzira, GZR 1401, Malta. It is authorized under the Insurance Business Act 1998 of the laws of Malta to conduct general business and is regulated by the Malta Financial Services Authority, Triq l-Imdina, Zone 1, Central Business District, Birkirkara, CBD 1010, Malta. The insurer was entered on March 24, 2021 in the register managed and maintained by the Czech National Bank as a branch of a foreign insurance company providing insurance services in the Czech Republic. The address of the Czech branch is Roztylská 1860/1, 148 00 Prague, identification number 11737379.