Fortegra Group Llc (FRF)

Description:

Fortegra Financial Corp was incorporated in 1981 and initially provided credit life and disability insurance for financial institutions, primarily small community banks in Georgia, and their customers under its Life of the South brand. It is an insurance services company that provides distribution and administration services and insurance-related products to insurance companies, insurance brokers and agents and other financial services companies in the United States. It sells its services and products directly to businesses rather than directly to consumers. Its services and products complement consumer credit offerings, provide outsourcing solutions designed to reduce the costs associated with the administration of insurance and other financial products and facilitate the distribution of excess and surplus lines insurance products through insurance companies, brokers and agents. These services and products are designed to increase revenues, improve customer value and loyalty and reduce costs for its clients. It operates in three business segments: - Payment Protection. Its Payment Protection segment, marketed under its Life of the South brand, delivers credit insurance, debt protection, warranty, and service contract and car club solutions along with administrative services to consumer finance companies, regional banks, community banks, retailers, small loan companies, warranty administrators, automobile dealers, vacation ownership developers and credit unions. BPO. Its business process outsourcing (BPO) segment, marketed under its Consecta brand, provides a broad range of administrative services tailored to insurance and other financial services companies. Wholesale Brokerage. its Wholesale Brokerage segment, marketed under its Bliss & Glennon brand, is one of the largest wholesale insurance brokers in California. It operates in the insurance, consumer finance and commercial finance industries in the United States, offering its services and products through the brands and distribution bases of its clients. The principal competitors for its Payment Protection business include the payment protection groups of Aon Corporation, Assurant, Inc., Asurion Corporation and smaller regional companies. Its principal business process outsourcing competitors include Aon Corporation, Computer Sciences Corporation, Direct Response Insurance Administration Services, Inc., Marsh & McLennan Companies, Inc., Perot Systems Corporation (a subsidiary of Dell, Inc.) and Unisys Corporation. Its Wholesale Brokerage business competes with numerous firms for retail insurance clients, including AmWINS Group, Inc., Arthur J. Gallagher & Co., Brown & Brown, Inc. and The Swett & Crawford Group, Inc. Its Payment Protection, BPO and Wholesale Brokerage businesses are subject to extensive regulation and supervision, including at the federal, state and local level and, to a limited degree, by foreign authorities.