09:09 AM EST, 11/08/2024 (MT Newswires) -- Tiptree ( TIPT ) subsidiary Fortegra Group said Friday it secured $150 million in capital through 9.25% fixed rate resetting notes due 2064.

The notes will be unsecured obligations that will be guaranteed on a junior subordinated basis by certain subsidiaries of Fortegra, the company said.

Tiptree ( TIPT ) said the issuance of the notes will allow Fortega to "boost profitability" via certain growth initiatives, and augment "risk management capabilities."