DEFEND INSURANCE GROUP joins forces with Fortegra
Acquisition to help further strengthen DEFEND’s insurance market position
Budapest, (July 8, 2019) – DEFEND INSURANCE GROUP (“DEFEND”), a leading CEE automotive specialty insurance solutions provider and claims administrator, today announces a new partnership with Fortegra Financial Corporation (“Fortegra”), leading international specialty insurer and subsidiary of Tiptree Inc. (“Tiptree”). Effective 1 July, Fortegra acquired a majority stake in Ingenasys, Ltd., the parent holding company of DEFEND INSURANCE GROUP.
The collaboration supports both parties’ strategic goal of Pan-Euopean growth while positioning DEFEND to continue to develop and bring cutting-edge insurance solutions to the targeted markets. “We are very happy to join Fortegra to help us continue the significant level of growth we have recorded over the last five years,” said Andrew Quirke, Managing Director of DEFEND INSURANCE GROUP. “This move establishes DEFEND as a long-term player in the market, and also brings many benefits and opportunities for our employees, partners, and customers.”
In March 2018, U.S.-based Fortegra established its wholly-owned European subsidiary Fortegra Europe Insurance Company Limited (FEIC Ltd.) to increase their international presence.
“The acquisition of DEFEND is an exciting part of our international growth strategy to become a leading European warranty insurer,” said Fortegra Executive Vice President and Chief Underwriting Officer Sanjay Vara. “Like DEFEND, Fortegra is always looking for opportunities to develop and improve, and our mutual vision significantly contributes to our bright future.”
With Fortegra’s support and the benefit of decades of combined expertise, DEFEND will continue to provide innovative solutions that build customer satisfaction and partner loyalty across Europe.
“DEFEND complements our strategy in Europe,” said Fortegra President and CEO Richard Kahlbaugh. “Its management and employees are extremely capable. We will support them in their focus on delivering quality products and services to our agents, customers and consumers across Europe, and I’m looking forward to an exciting future ahead for everyone.”
For additional information about DEFEND products and solutions, visit www.defendinsurance.hu.
For more information on Fortegra products and services, visit www.fortegra.com.
About DEFEND INSURANCE GROUP
DEFEND INSURANCE GROUP operating companies are providers of specialty insurance solutions for the automotive sector and claims adjusters, focusing on extended warranties, GAP insurance vehicles, and other innovative products. Ingenasys Limited is the parent company of DEFEND INSURANCE GROUP. DEFEND has five subsidiaries and six branches in the Czech Republic, Poland, Hungary, Slovakia and in the UK. For more information, please visit www.defendinsurance.hu.
Fortegra Financial Corporation (a Tiptree Inc. company) and its subsidiaries comprise a single-source insurance services provider that offers a range of consumer protection options including warranty solutions, credit insurance, and specialty underwriting programs. Delivering multifaceted coverage with an unmatched service experience for domestic and international partners and their customers, Fortegra solves immediate, everyday needs, empowering consumers to worry less and Experience More.