eReinsurance bought by Fortegra

Insurance services company Fortegra Financial has announced an agreement to acquire for $37 million (£22.7 million).

Fortegra provides distribution and administration services, and insurance-related products for insurers. US-based eReinsurance, which was founded 11 years ago and has offices in London, supplies web-hosted applications for the reinsurance market.

According to a statement from the company, Fortega will use the acquisition to offer eReinsurance’s negotiation platform to insurers, reinsurers and brokers. The company’s technology supports placing reinsurance risks.

Richard Kahlbaugh, CEO of Fortegra, comments, ‘We believe this acquisition will significantly enhance the operating margins in our wholesale brokerage segment and enable us to introduce exciting technologies.’

Todd Cardy

Todd Cardy

Todd was Editor of between 2010 and 2011 as well as being responsible for publishing our digital and printed magazines focusing on private equity and venture capital.

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