Press Release|Insurance
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KBRA Affirms Ratings for Fortegra Financial Corporation and Its Key Rated Insurance Subsidiaries

1 Jun 2023   |   New York

Contacts

KBRA affirms the A- insurance financial strength ratings (IFSRs) for the key insurance subsidiaries of Fortegra Financial Corporation (Fortegra): Lyndon Southern Insurance Company; Insurance Company of the South; Response Indemnity Company of California; Life of the South Insurance Company; Southern Financial Life Insurance Company; and Bankers Life of Louisiana. In addition, KBRA affirms the BBB issuer rating and BBB- junior subordinated debt rating of Fortegra. The Outlook for all ratings is Stable. Fortegra is a leading provider of warranty and specialty underwriting products and services. The organization is headquartered in Jacksonville, Florida and is majority owned by Tiptree Inc. (NASDAQ: TIPT).

To access rating and relevant documents, click here.

Click here to view the report.

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Disclosures

Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above.

A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here.

Information on the meaning of each rating category can be located here.

Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at www.kbra.com.

About KBRA

Kroll Bond Rating Agency, LLC (KBRA) is a full-service credit rating agency registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a designated rating organization by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized by the National Association of Insurance Commissioners as a Credit Rating Provider.

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