Source: The Business Journals

Fortegra Financial: Jacksonville-based company raises $125 million

Jacksonville-based Fortegra Financial Corporation, a specialty insurance provider, raised $125 million in junior subordinated notes, which will be due in 2057. The vast majority of the proceeds will repay Fortegra's existing credit facility. Fortegra, a subsidiary of Tiptree Inc. (Nasdaq: TIPT), completed its offering Oct. 16. "We're pleased to announce the closing of this junior subordinated notes offering," said Fortegra CFO Mike Grasher. "The capital raise repositions our balance sheet,...

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Richard S. Kahlbaugh's photo - President & CEO of Fortegra

President & CEO

Richard S. Kahlbaugh

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Fortegra is an insurance brokerage firm that provides credit insurance and debt protection services for individuals and businesses. Read more