DB Insurance is reportedly considering the acquisition of the U.S. insurance company Fortegra.
According to the Financial Supervisory Service electronic disclosure system on the 1st, DB Insurance stated that "the company has been expanding its business in various ways since entering the U.S. mainland in 2009," adding that Fortegra is also under review for acquisition as part of this expansion strategy.
DB Insurance further noted, "After recent due diligence, no specific decisions have been made regarding the acquisition, including whether to proceed, the price, and the timeline."
Founded in 1978, Fortegra is a specialty insurance company based in Jacksonville, Florida, specializing in auto coverage and guarantees. DB Insurance has branches in Guam, Hawaii, California, and New York, and recorded overseas insurance premiums of approximately 700 billion won last year.