Tiptree touches 6-month high after Warburg Pincus backs unit
12/10/2021 17:27
** Shares of Tiptree TIPT.O , the parent company of insurer
Fortegra, rise as much as 33% to $14.25
** Stock touches its highest in nearly six months
** Co says private equity firm Warburg Pincus invested in
Fortegra urn:newsml:reuters.com:*:nBw4htMcja
** Warburg Pincus to own 24% of the insurer when the deal
closes in the first quarter of 2022
** Newest investment will be used to accelerate growth and
repay debt - Tiptree's Executive Chairman Michael Barnes
** Shares have more than doubled this year
(Reporting by Niket Nishant in Bengaluru)
((Niket.Nishant@thomsonreuters.com;))