South Korea’s DB Insurance Company agreed to buy the US Special Insurance Company for $ 1.65 billion, which will be the largest US acquisition through a non -life insurance company from the country.
He said in a statement on Friday that 100 % of the residual shares of Seoul -based company Forgara will buy from investors, including Warberg Pins. The agreement will increase the bail and warranty sectors along with DB insurance in the US property and accident market.
Fortgra, a unit of the Tipitary Inc., cited market conditions, eliminating its initial public offer last year. The contract is subject to the approval of the tipitary and is expected to close in the mid -2026.
DB Insurance World Business Head, K-Haven Park, said in a statement that the acquisition identified the “purchase of US insurance for the first time” by a Korean non-life company, and represents a “turning point” for DB insurance for becoming a global insurance.
The Forgara Group has a portfolio in special insurance and works in the United States and Europe.
Barclass PLC And Boffu Securities advised Fortgra, while the Goldman Sex Group Inc. advised DB insurance, which also taped Tatsuko Hashina as a global strategy adviser.
Copyright 2025 Bloomberg.
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