KBRA upgrades all ratings and removes them from Watch Developing, where they were placed on September 29, 2025 following the announcement that DB Insurance Co., Ltd. (DB Insurance) (KOSPI: 005830) would be acquiring The Fortegra Group, Inc. (TFG or Fortegra). The transaction closed on May 29, 2026. The upgrades reflect Fortegra's sustained strengthening of its credit profile over multiple years, supported by consistently strong operating performance, disciplined underwriting execution, improved quantitative credit metrics, and continued enhancement of its business franchise. Fortegra has consistently generated profitable growth while maintaining statutory combined ratios in the high-80% to low-90% range, materially outperforming industry benchmarks. Continued internal capital generation, supplemented by parent capital support, has strengthened statutory surplus, improved underwriting leverage, and reinforced the group's overall financial profile.
The upgrade also reflects…
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