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South Korea’s DB Insurance Co. agreed to buy US specialty insurer Fortegra Group for $1.65 billion, in what would be the biggest US acquisition by a non-life insurer from the country.

U.S. investment manager Tiptree said on Thursday that South Korea's DB Insurance would acquire its specialty insurance unit, The Fortegra Group, for about $1.65 billion in cash.

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DB Insurance Co., Ltd., Tiptree Inc. and Warburg Pincus LLC announced today that the parties have signed an agreement for DB Insurance to acquire 100% of the outstanding shares of The Fortegra Group, ...