Fortegra 100% Acquisition Confirmed: Approx. 2.31 Trillion KRW, Closing on May 30, 2026
DB INSURANCE confirmed a reverse triangular merger agreement to acquire 100% of US insurer Fortegra for approximately KRW 2.31 trillion (USD 1.65 billion).
Total consideration is USD 1,650,000,000 (applying exchange rate of KRW 1,400.4 per USD as of Sep 26, 2025), to be funded with internal cash reserves.
Acquisition closing date is set for May 30, 2026 (May 29, 2026 US local time), after which Fortegra will become a wholly owned subsidiary of DB INSURANCE.
Fortegra reported total assets of approx. KRW 7.5 trillion and net income of approx. KRW 193.1 billion in 2024, indicating a stable insurance operation.
This acquisition aligns with DB INSURANCE's global expansion strategy and is expected to enhance long-term shareholder value.
KOSPI Filing Information
Filing: [Correction of Description] Decision on Acquisition of Stocks and Equity Securities of Other Corporations