Question : I got an email supposedly from the U.S. Department of Education to “alert me ” that my FSA ID is locked and telling me to click on a link to unlock it. I think this is a phishing scam because I didn’t apply for financial aid this year—my daughter already graduated from college. I deleted the email without clicking. Have others reported this ?
Answer : Yes, cybercriminals are at work, but likely not in the way you think ; more likely someone was trying to log into your idle Federal Student Aid account and failed to guess your password so the system locked them out after three attempts. The lockout would generate an email from “donotreply @studentaid.gov ” to the address on file for the account.
Although it’s never wise to click on a link in an unsolicited email, you do need to secure your FSA ID. Go to and try to log in. If your account is locked, “you’ll need to use your verified mobile phone number or verified email address, an authenticator app, or your challenge questions to unlock it, ” the website says. Follow the instructions to reset your password and take other recommended security steps.
You can’t delete your FSA ID, even though your daughter has finished college, and the website’s instructions to disable an account no longer seem to work—these are problems for law-abiding students and parents amid identity theft so rampant that officials said it imperils the federal student aid program for college students.
In June, Federal Student Aid, an office of the U.S. Department of Education, announced new rules to combat the fraud, in which criminals use stolen FSA IDs or other credentials to obtain grants and loans and then enroll chatbots in online classes. Artificial intelligence and remote learning fuel these schemes. Victims whose identities were stolen must deal with the aftermath, trying to prove they never sought or received a student loan, for example.
“Recent data from Federal Student Aid, States, and financial aid administrators at a wide range of institutions of higher education has made it clear that the rate of fraud through stolen identities has reached a level that imperils the federal student aid programs authorized under Title IV of the Higher Education Act. As such, the Department and its institutional partners must act to protect the integrity of federal student aid programs funded by taxpayers. This is especially acute for the Pell Grant program, which is already facing a budgetary shortfall and has been targeted by technologically advanced fraud rings, ” FSA said in its June announcement, which you can read at.
Q : Can that life insurance finder be used for people who aren’t dead ? We have a situation with dementia and missing records.
A : No, the National Association of Insurance Commissioners’ Life Insurance Policy Locator, a free online service, helps beneficiaries track down life insurance policies and annuity contracts held by people who have died, and only after the tool’s user has made a “diligent search ” for the deceased person’s records on their own. The service “is not to be used to try to locate potential benefits from life insurance policies and annuity contracts on living persons, ” according to its website, .
Although the online tool is not for people in your situation, with relatives who can’t recall where important records are kept, the NAIC and other insurance sites do offer tips that might help. They suggest that a person’s authorized representative could :—Contact the person’s employer or former employer (s ) to ask whether they are entitled to group life insurance benefits. Likewise, if the person is or was in a labor union, ask the union.—Review the person’s bank statements and canceled checks, if available, for payments to a life insurance company.—Ask other family members if they know of any insurance policies or annuity contracts, and if they know of any safety deposit boxes or other locations where records may be kept.—Check with the company or companies that insures or insured the person’s car or house, as they may also have sold the person life insurance. Likewise, if the person is or was a member of a group such as AARP or AAA, check for life insurance purchased through the group.—Search for unclaimed property via, which may include contents of safe deposit boxes, deposits held by utility companies, dormant savings and checking accounts, insurance and medical refunds, shares of stocks, uncashed travelers checks, money orders, dividend checks and payroll checks, according to Hawaii’s Department of Budget and Finance. The search page also includes instructions for filing a claim if property is found.————Write to Kokua Line at Honolulu Star-Advertiser, 500 Ala Moana Blvd., Suite 2-200, Honolulu, HI 96813 ; call 808-529-4773 ; or email kokualine @staradvertiser.com.————
South Korean-based DB Insurance Co. Ltd. announced Sept. 26 it is buying Jacksonville-based specialty insurance company Fortegra Group Inc. for $1.65 billion.
The deal comes 11 years after Connecticut-based investment company Tiptree Inc. bought then-publicly traded Fortegra for $218 million.
Fortegra has grown significantly under Tiptree’s ownership. The company reported revenue of $179 million in the first six months of 2014 before that deal was announced. Its revenue grew to $994 million in the first six months of 2025.
Tiptree tried to take Fortegra public again twice, in 2021 and 2024, but called off the sale both times because it couldn’t get the price it wanted.
Investment firm Warburg Pincus LLC acquired a 24% stake in Fortegra in 2021 after the first attempt at an initial public offering was withdrawn.
Tiptree’s majority stake in Fortegra is the company’s largest investment.
DB Insurance said the acquisition of Fortegra is a strategic step in its goal of growing its presence outside of South Korea.
“This acquisition will mark the first-ever purchase of a U.S. insurer by a Korean non-life insurer and represents a turning point for DB Insurance in its journey to become a global insurer,” said Ki-Hyun Park, head of global business for DB, in a news release.
“By combining Fortegra’s expertise with DB Insurance’s global network and capital strength, we aim to enhance customer value and market competitiveness while simultaneously achieving our dual objectives of increasing shareholder value and contributing to the national economy,” he said.
“This agreement with DB Insurance marks a significant new chapter in Fortegra’s journey. We look forward to partnering with DB Insurance to advance the shared goal of building a leading insurance group,” Fortegra CEO Rick Kahlbaugh said in the release.
Kahlbaugh has been chief executive of Fortegra since 2007.
“As Fortegra embarks on its next chapter, we remain proud of what we’ve built together and confident in the company’s continued success,” Tiptree Executive Chairman Michael Barnes said in the release.
The companies expect to complete the sale in mid-2026.
Parent of Security Benefit Life Insurance Company diversifies investor base and capitalizes on current market opportunity to refinance
TOPEKA, Kan.–(BUSINESS WIRE)–
SBL Holdings, Inc. (“Security Benefit”) today announced the completion of an offering of $500 million of 5.900% senior notes due 2028. Security Benefit is the parent company of Topeka-based Security Benefit Life Insurance Company.
Security Benefit intends to use the net proceeds of the issuance principally to redeem in whole its 5.125% senior notes due 2026, of which $374,457,000 are outstanding. The redemption date will be October 14, 2025. The remaining net proceeds will be available for general corporate purposes.
The new notes due 2028 have been assigned a rating of BBB- (Stable Outlook) by S&P Global Ratings and BBB- (Stable Outlook) by Fitch Ratings, Inc.
“We were able to leverage our financial strength, consistent earnings, and sustainable business model, while taking advantage of this moment in rates and spreads, to refinance our senior notes due 2026,” said Doug Wolff, CEO of Security Benefit. “The securities were offered on an attractive basis and added additional available capital to Security Benefit.” Brian Beckett, CFO of Security Benefit, added, “The new senior notes further diversify our investor base, together with our successful offerings last October and this past April. We were pleased to see the confidence expressed in Security Benefit, as investors in these new notes included some holders of the notes being redeemed.”
The redemption price for the notes due 2026 will be the greater of (i) 100% of the principal amount of the notes at the redemption date and (ii) the required “make-whole” amount, plus, in each case, accrued and unpaid interest to, but not including the redemption date. The make-whole amount will be based on the Treasury Rate (as defined in the indenture governing the notes due 2026) plus 50 basis points.
A formal notice of redemption of the notes due 2026 will be sent to holders.
This press release and the notice of redemption are posted at www.securitybenefit.com under the “Investor Relations” tab.
This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any securities of SBL Holdings, Inc. or Security Benefit Life Insurance Company or a notice of redemption of the senior notes due 2026.
The senior notes due 2028 were offered and issued in compliance with Rule 144A/Reg S procedures under the Securities Act of 1933 (the “Securities Act”). The notes have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction, and may not be offered or sold in the United States or to U.S. persons without registration under the Securities Act or the applicable securities laws of any other jurisdiction or an applicable exemption from the registration requirements.
About Security Benefit
SBL Holdings, Inc., through its subsidiary Security Benefit Life Insurance Company, a Kansas-domiciled insurance company that has been in business for more than 133 years, is a leader in the U.S. retirement market. Security Benefit, together with its affiliates, offers products in a full range of retirement markets and wealth segments for employers and individuals and held $57.6 billion in assets under management as of June 30, 2025. Security Benefit, an Eldridge Industries business, continues its mission of helping Americans To and Through Retirement®. Learn more at www.securitybenefit.com and follow us on LinkedIn, Facebook, and X.
HONG KONG–(BUSINESS WIRE)– AM Best has assigned a Financial Strength Rating of A (Excellent) and a Long-Term Issuer Credit Rating of “a” (Excellent) to Samsung Property & Casualty Insurance Company (China), Ltd. (Samsung P/C China). The outlook assigned to these Credit Ratings (ratings) is stable.
The ratings of Samsung P/C China reflect its balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
Samsung P/C China is a non-life insurance company established in 2005. The company was a wholly owned subsidiary of Samsung Fire & Marine Insurance Co., Ltd. (SFM) until 2022, during which time Shenzhen Tencent Domain Computer Network Company Limited (Tencent Domain), an affiliate of Tencent Holdings Limited (Tencent), and four minority shareholders made investments of RMB 1.95 billion into the company. Following the introduction of Tencent Domain, Samsung P/C China continues to receive explicit and implicit support from SFM, including stable business relationships with affiliated Samsung entities and Korean Interests Abroad (KIA) clients, strong brand recognition, reinsurance support and underwriting know-how. The company also benefits from the distribution capabilities and extensive market outreach of Tencent’s online platforms and overall management oversight.
Samsung P/C China is a small-sized player in China’s non-life industry. The company has built a stable commercial book and a growing personal line portfolio with the support of its two major shareholders. The company offers a wide range of insurance products including commercial property, liability, engineering, accident and health (A&H) and shipping return insurance. Samsung-affiliated businesses and KIA clients are primarily managed by Samsung P/C China’s direct channel, with client management, pricing, underwriting guidance supported by SFM. The company leverages on Tencent’s platforms to acquire shipping return business and distribute A&H products, while continuing to diversify its third-party business sources by partnering with brokers, agents and external platforms.
Samsung P/C China has consistently delivered positive earnings over the last few years. The company recorded significant top-line growth in terms of gross premiums written in 2024, primarily driven by shipping return insurance and health insurance distributed through WeSure, a Tencent-backed online insurance platform. Underwriting profitability was under some pressure due to higher loss ratios and increased operating expenses over the last two years. Investment returns have been consistently positive, supported by a steady stream of interest income sourced from deposits and fixed-income investments.
AM Best assesses Samsung P/C China’s risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR), supplemented by its conservative investment strategy, sound liquidity and a comprehensive reinsurance programme. The company’s capital position was materially enhanced following the shareholding change, with its local solvency ratio considerably higher than the regulatory minimum requirement level. AM Best views SFM and the parent group of Tencent Domain as being equipped with superior credit fundamentals. These companies also are expected to continue to provide financial and non-financial support to Samsung P/C China over the intermediate term. AM Best also views Samsung P/C China’s overall risk management practices as appropriate for its risk profile.
Negative rating actions could occur if there is significant and adverse deviation in Samsung P/C China’s business execution compared with its business plan, leading to material deterioration in its operating performance. Negative rating actions could also occur if the company’s balance sheet strength materially deteriorates, due to a significantly reduced level of support from major shareholders, including financial flexibility and reinsurance. Negative rating actions could also arise if there is a reduced level of business and distribution support from major shareholders, which negatively impacts Samsung P/C China’s business profile assessment. While deemed unlikely over the intermediate term, positive rating actions may occur if the company demonstrates sustained and favourable operating performance with no material deterioration in its current balance sheet strength assessment.
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
How many clients do you have in your current book of business? What if I told you that you could earn an additional $150 per year in commissions from each of those clients with very little effort?
Todd Villeneuve
Let’s do the math on this: If you currently serve 100 clients in your book, that’s an extra $15,000 in revenue each year. If you have 1,000 clients, that’s an additional $150,000 per year.
And the key to realizing that additional income is simple: cross-selling.
While stepping outside your comfort zone and selling new products may feel uncomfortable and scary – no one wants to lead a client astray with bad advice – agents and advisors who don’t offer a portfolio of solutions leave money on the table. A lot of money. Even worse, they leave their customers hungry and vulnerable to other agents who do offer a range of products that change and grow with industry trends and evolving demographics.
Cross-selling protects your clients
If you’re an independent insurance agent or a financial advisor who is seeking long-term success and stability, a diversified portfolio is crucial. For example, if you sell life insurance, chances are your clients could also benefit from long-term care insurance, short- or long-term disability coverage or supplemental options such as hospital indemnity or critical illness coverage.
Because health and financial wellness are so closely connected, your clients should also understand how financial products like annuities can provide security during retirement, while allowing them to plan for and leave a legacy for their loved ones.
The same is true if you’re a financial advisor. Integrating insurance products such as individual health, Medicare, disability and long-term care into the broader financial plan for clients can deliver long-term wealth, security and protection, while mitigating risk and delivering important tax advantages.
If selling Medicare converge is your bread and butter, congratulations! But don’t stop there or you may leave clients with serious gaps that can impact their financial future. Remember that your clients are looking to you for life-changing help and advice, so don’t hesitate to introduce them to insurance and financial options that increase their protection, all while cementing your relationship with them.
Don’t go it alone
I understand why cross-selling is a challenge: lack of time (you must be responsive to existing clients, first and foremost), lack of experience in new product areas, lack of resources (financial and bandwidth) and lack of access to or knowledge of marketing. But there’s good news: You don’t have to go it alone.
If you don’t currently work with an independent marketing organization, consider how the support and resources an IMO offers might benefit your business. If you do work with an IMO and they aren’t encouraging you to cross-sell or if they don’t have the expertise and tools to help you grow your business through cross-selling, then it may be time to find a new partner.
It’s also helpful to turn to your professional network and ask other agents and advisors about the resources they use to drive business growth through cross-selling. Maybe you’re affiliated with strategic partners, a larger agency or practice, or an IMO where other resources are available. If so, look for a way to represent the product with another agent, or make a referral to an advisor or agent who can write the business on your behalf. The advantage is that your customer receives uninterrupted service and the business stays within your circle of influence. Plus, it’s likely you can also arrange a shared commission or referral bonus, so everybody wins.
Cross-selling gives you the power to weather market changes
If your goal is to grow a stable, high-performing agency or practice, product diversity is critical. Diversification will also allow you to weather market changes that are completely out of control. For example, when carriers make changes to commissions or pull products from the market, it causes upheaval for everyone. However, by not putting all your eggs in one basket, you can keep your sales pipeline and commissions flowing until the industry rights itself again–as it ultimately will.
Cross-selling delivers advantages such as increased customer retention, opportunities for growth, improved risk management, greater earning potential, a higher business valuation and a stronger marketing position. It also nourishes your customer relationships by giving them options that adapt as they move through life, allowing them to maximize their investments and safeguard their lifestyles and legacies.
SEOUL, South Korea & GREENWICH, Conn. & NEW YORK–(BUSINESS WIRE)–
DB Insurance Co., Ltd. (“DB Insurance”) (CEO Jong-Pyo Jeong), Tiptree Inc. (NASDAQ: TIPT) (“Tiptree”) and Warburg Pincus LLC (“Warburg Pincus”) announced today that the parties have signed an agreement for DB Insurance to acquire 100% of the outstanding shares of The Fortegra Group, Inc. (“Fortegra”), a U.S.-based specialty insurer, for approximately $1.65 billion (approximately KRW 2.3 trillion) in cash from Tiptree and Warburg Pincus. The transaction will be funded in cash with internal resources from DB Insurance. The transaction will mark the largest U.S. market entry by a Korean non-life insurer.
DB Insurance first entered the U.S. market in 1984 through its Guam branch and has since pursued a differentiated global business strategy with the goal of establishing “a second DB Insurance” abroad. The decision to acquire Fortegra, with 2024 annual premiums of KRW 4.4 trillion, reflects a strategic step to secure scale and capabilities as a global insurance group.
Founded in 1978 and headquartered in Jacksonville, Florida, Fortegra has built a portfolio spanning specialty insurance, other insurance and services. The company operates across the U.S. and Europe, supported by strong underwriting discipline and risk management, and has maintained a long-term combined ratio of approximately 90%.
For 2024, Fortegra reported gross written premiums of $3.07 billion (KRW 4.4 trillion) and net income of $140 million (KRW 200 billion). It operates in all 50 U.S. states and eight European countries, including the U.K. and Italy, and holds an A- financial strength rating from A.M. Best.
The acquisition is expected to provide DB Insurance with a platform for global growth in the world’s largest property and casualty (P&C) markets, enable entry into the profitable surety and warranty sectors, and enhance earnings stability through broader geographic and business-line diversification.
This agreement also provides Fortegra with a strong capital base to support its continued profitable growth as it joins an insurance group with strong financial ratings: AM Best A+ (Superior) and S&P A+ (Stable).
Ki-Hyun Park, Head of Global Business at DB Insurance, said: “This acquisition will mark the first-ever purchase of a U.S. insurer by a Korean non-life insurer and represents a turning point for DB Insurance in its journey to become a global insurer. By combining Fortegra’s expertise with DB Insurance’s global network and capital strength, we aim to enhance customer value and market competitiveness while simultaneously achieving our dual objectives of increasing shareholder value and contributing to the national economy.”
Rick Kahlbaugh, CEO of Fortegra Group, added: “This agreement with DB Insurance marks a significant new chapter in Fortegra’s journey. We look forward to partnering with DB Insurance to advance the shared goal of building a leading insurance group.”
Michael Barnes, Tiptree’s Executive Chairman, said: “For more than a decade we have had the pleasure of working closely with Rick and his team to nurture Fortegra’s growth and deliver a track record of consistent performance. As Fortegra embarks on its next chapter, we remain proud of what we’ve built together and confident in the company’s continued success.”
Dan Zilberman, Global Head of Capital Solutions and Global Co-Head of Financial Services at Warburg Pincus, said: “Fortegra successfully accelerated its growth and cemented its position as a leading global specialty insurer during our partnership with the company. We, along with our friends at Tiptree, are proud to have supported Rick and the Fortegra team through this exciting period, and are highly confident that DB Insurance is the right partner for Fortegra in this next chapter of its growth.”
Barclays and BofA Securities are serving as financial advisors to Fortegra. Goldman Sachs & Co. LLC is serving as a financial advisor and Tatsuhiko Hoshina as a global strategy advisor to DB Insurance. Ropes & Gray LLP and Sidley Austin LLP are serving as legal advisors to Fortegra. Latham & Watkins LLP is serving as legal advisor to DB Insurance.
The acquisition is subject to receipt of Tiptree stockholder approval, required regulatory approvals and other customary closing conditions and is expected to close in mid-2026.
About DB Insurance
DB Insurance was established as Korea’s first automobile insurance company in 1962 and today is the second largest non-life insurer in South Korea, servicing over 11 million customers. DB Insurance offers a diversified portfolio including long-term medical, auto, and property and casualty insurance policies.
About Fortegra
For more than 45 years, Fortegra, via its subsidiaries, has underwritten risk management solutions that help people and businesses succeed in the face of uncertainty. As a multinational specialty insurer whose insurance subsidiaries have an A.M. Best Financial Strength Rating of A- (Excellent) and an A.M. Best Financial Size Category of ‘X’, we offer a diverse set of admitted and excess and surplus lines insurance products and warranty solutions. For more information: www.fortegra.com.
About Tiptree
Tiptree Inc. (NASDAQ: TIPT) allocates capital to select small and middle market companies with the mission of building long-term value. Established in 2007, Tiptree has a significant track record investing across a variety of industries and asset types, including the insurance, asset management, specialty finance, real estate and shipping sectors. With proprietary access and a flexible capital base, Tiptree seeks to uncover compelling investment opportunities and support management teams in unlocking the full value potential of their businesses. For more information, please visit tiptreeinc.com and follow us on LinkedIn.
About Warburg Pincus
Warburg Pincus LLC is the pioneer of private equity global growth investing. A private partnership since 1966, the firm has the flexibility and experience to focus on helping investors and management teams achieve enduring success across market cycles. Today, the firm has more than $87 billion in assets under management, and more than 220 companies in their active portfolio, diversified across stages, sectors, and geographies. Warburg Pincus has been a leading investor in the insurance industry for 30 years, investing more than $5 billion in equity capital across more than 20 investments, globally. These investments include Aeolus Re, Arch Capital, Fetch Pet Insurance, Fortegra, Foundation Risk Partners, ICICI Lombard Insurance, K2 Insurance Services, Keystone Agency Partners, McGill & Partners, ParetoHealth, RenaissanceRe, and Somers Re, amongst others.
The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit warburgpincus.com or follow us on LinkedIn.
This press release contains forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “seek,” “may,” “plan,” “project,” “should,” “target,” “will,” and words and terms of similar substance used in connection with any discussion of future plans, actions or events identify forward-looking statements. All statements, other than historical facts, including statements regarding the potential synergies, future growth and expansion opportunities, credit ratings and other impacts to DB, Tiptree, Fortegra and U.S.-Korea economic ties relating to closing of the merger of Fortegra with and into a subsidiary of DB (the “Merger”), pursuant to the merger agreement between DB, Tiptree and Fortegra (the “Merger Agreement”) are forward-looking statements. These forward-looking statements are based upon present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond the control of Tiptree, Fortegra and DB. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: (a) failure to satisfy the conditions to closing and the consummation of the Merger and the other transactions contemplated by the Merger Agreement, including required regulatory approvals; (b) potential legal proceedings relating to the Merger Agreement and the Merger; (c) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, including a termination of the Merger Agreement under circumstances that could require Fortegra or Tiptree to pay a termination fee; (d) failure to obtain stockholder approvals as required for the Merger; (e) failure to consummate the Merger in a timely manner or at all; (f) the effect of the announcement and pendency of the Merger and the other transactions contemplated by the Merger Agreement on Tiptree’s future operating results and financial condition; (g) the market price of Tiptree’s common stock; (h) the significant transactions costs that Tiptree will incur in connection with the Merger; (i) the effect of the pendency of the Merger on Tiptree’s business and Tiptree’s ability to attract, retain and motivate key personnel; (j) changes in Tiptree’s or Fortegra’s business or operating results; (k) any disruption of Tiptree or Fortegra management’s ability to spend time on the ongoing business operations of Tiptree and Fortegra due to the Merger; (l) limitations placed on Tiptree’s ability to operate the business by the Merger Agreement; (m) failure to close the Merger in a timely manner or at all; (n) failure of Tiptree to realize financial benefits currently anticipated from the Merger; (o) competitive pressures in the markets in which Tiptree and Fortegra operate; (p) the effects of market volatility or macroeconomic changes and financial market regulations on the industries in which Tiptree operates; (q) the effects of changes in, or Tiptree’s failure to comply with, laws and regulations; (p) cybersecurity attacks or information system failures disrupting Tiptree’s businesses; and failure of Tiptree’s insurance subsidiaries to meet liquidity requirements; and (r) Tiptree’s ability to continue as a going concern.
For additional information about risks and uncertainties that may cause actual results of the transaction to differ materially from those described, please refer to Tiptree’s reports filed with the SEC, including without limitation the “Risk Factors” and/or other information included in such reports. While the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. The forward-looking statements in this press release speak only as of the date hereof. Except as required by law, Tiptree assumes no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future.
Additional Information and Where to Find It
In connection with the Merger, Tiptree will file with the SEC a preliminary proxy statement of Tiptree (the “Proxy Statement”). Tiptree plans to mail to its stockholders a definitive Proxy Statement in connection with the Merger. Tiptree may also file other documents with the SEC regarding the Merger. This document is not a substitute for the Proxy Statement or any other document that may be filed by Tiptree with the SEC.
TIPTREE URGES YOU TO READ THE PROXY STATEMENT AND OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC CAREFULLY AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TIPTREE, THE MERGER AND RELATED MATTERS.
Any vote in respect of resolutions to be proposed at a Tiptree stockholder meeting to approve the Merger or related matters, or other responses in relation to the proposed transaction, should be made only on the basis of the information contained in the Proxy Statement. You will be able to obtain a free copy of the Proxy Statement and other related documents (when available) filed by Tiptree with the SEC at the website maintained by the SEC at www.sec.gov. You also will be able to obtain a free copy of the Proxy Statement and other documents (when available) filed by Tiptree with the SEC by accessing the Investor Relations section of Tiptree’s website at https://investors.tiptreeinc.com.
The proposed transaction will be implemented solely pursuant to the Merger Agreement, which contains the full terms and conditions of the proposed transaction.
Participants in the Solicitation
Tiptree and certain of its directors, executive officers and certain employees and other persons may be deemed to be participants in the solicitation of proxies from Tiptree’s stockholders in connection with the Merger. Security holders may obtain information regarding the names, affiliations and interests of Tiptree’s directors and executive officers in Tiptree’s definitive proxy statement on Schedule 14A for its 2025 Annual Meeting of Stockholders, which was filed with the SEC on March 17, 2025 and in Tiptree’s Current Report on Form 8-K filed with the SEC on May 1, 2025. Additional information concerning the interests of Tiptree’s participants in the solicitation, which may, in some cases, be different than those of Tiptree’s stockholders generally, will be set forth in the Proxy Statement when it is filed with the SEC and other materials that may be filed with the SEC in connection with the Merger when they become available. These documents (when available) may be obtained free of charge from the SEC’s website at www.sec.gov and the investor relations page of the Tiptree’s website at https://investors.tiptreeinc.com.
Discussing the importance of owning life insurance can be a sensitive topic – after all, few people like to talk about death. However, if others depend on your support, or if you have substantial assets that you wish to transfer to future generations, life insurance can be an important financial tool. There are many types of insurance and features for you to consider if you are shopping for a plan.
Types of Life Insurance
Term insurance is perhaps the most common and least expensive form of life insurance – if you’re under age 50. These policies are written for a specific period of time – 1 year, 10 years, 30 years, etc. – and often have the option for renewal, during which time the premiums are likely to increase. If you wish to lock in the premium for periods of up to 30 years, select a level term policy.
Decreasing term insurance can be used to match the amortization of your mortgage principal or another financial obligation, with benefits paid only if you die during the policy’s term. While the premium remains constant over the term, its face value decreases. Once you pay off your debt, this policy expires without value-unless you choose to renew it. You can choose variations of this policy, such as one that is renewable up to age 70 and convertible to permanent insurance without undergoing a medical exam.
Whole life incorporates features of permanent protection with a savings account. You can lock in a premium rate, and part of the premium accrues a cash value as long as you continue to pay the premiums. As the savings amount increases, you can potentially borrow up to 90% of the policy’s cash value tax-free (though borrowing money reduces the policy’s death benefit and cash value).
Universal life is similar to whole life while including potentially higher earnings on the savings feature. You can also change the premium amount and withdraw cash, as well as possibly even change the face value of the policy. These also can offer a guaranteed return on cash value.
However, withdrawals will be taxed.
Variable life policies generally feature fixed premiums and a flexible cash value policy. In fact, you can invest the cash value in your choice of stock, bond, or money market funding. However, keep in mind that the cash value and death benefit can fluctuate, too, based on the performance of your investment choice(s). There is typically a floor for death benefits but no guarantee on cash values. Additionally, fees for these policies tend to be higher than for universal life. Finally, should you accrue investment earnings, they are tax-deferred as long as the funds remain in the insurance contract.
Variable universal life allows your premiums to be invested more aggressively than with other policy types. While similar to variable life in that you can choose from a variety of investment options, there is no guarantee beyond the original face value death benefit. As such, they are more common with wealthy buyers who can withstand the risks.
Survivorship life insurance is a unique type of life insurance that insures two people under one policy, and provides a payout to their beneficiaries when both have passed away. It is typically used for estate planning, with a death benefit that can fund estate taxes while passing along wealth to future generations or a charity.
This policy may be favored if one of the insured is finding it difficult to have a more traditional life insurance policy underwritten, possibly for medical reasons. However, it may not be the right policy type if one of the insured would suffer financial hardship if the other passes away first.
First-to-die life insurance is a type of policy that pays a death benefit to the surviving spouse (or other beneficiaries) after one of the policy owners dies. This is useful for covering a mortgage or other large debt where there are multiple debtors.
It is often used when funding buy-sell agreements within a closely held business.
How Much to Purchase
There is no correct amount of life insurance to purchase. Some use a formula based on income replacement, selecting five to 10 times your annual salary to calculate a coverage amount.
Others use an amount based on personal needs and preferences. (Several websites, such as Bankrate.com, have life insurance calculators to help you make a decision.)
To determine your unique income-replacement need, consider that a sizable amount of your income currently goes to support your lifestyle and pay taxes. Determine your net earnings after taxes, then add your personal expenses, including housing, healthcare, food, etc. This total represents the amount that your insurance will need to replace. Many select a death benefit amount that, when invested, will provide annual income to cover that total. Add to that the amounts needed to fund one-time expenses, such as college tuition or paying off a mortgage.
When calculating income replacement for a nonworking spouse, coverage should provide for day care costs, housekeeping, and other types of care. Add those amounts to any net earnings from part-time employment.
Finally, estimate estate taxes, uninsured medical costs, and funeral costs when calculating your total income replacement needs.
Conclusion
Life insurance is an important part of a financial plan. Assessing the various options and asking the right questions can help you select a policy that provides the best coverage for you and your family.
The cost and availability of life insurance depend on many factors such as age, health and amount of insurance purchased. In addition to premiums, there are contract limitations, fees, exclusions, reductions of benefits, and charges associated with policy. And if a policy is surrendered prematurely, there may be surrender charges and income tax implications. Variable universal life insurance/variable life insurance policies are subject to substantial fees and charges. Policy values will fluctuate and are subject to market risk and to possible loss of principal.
Any life insurance guarantees are contingent upon the claims-paying ability of the issuing company.
Investing in stocks involves risks, including loss of principal. Bonds are subject to market and interest rate risk if sold prior to maturity.
Bond values will decline as interest rates rise and are subject to availability and change in price.
Investing in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.
This material contains only general descriptions and is not a solicitation to sell any insurance product or security, nor is it intended as any financial or tax advice. For information about specific insurance needs or situations, contact your insurance agent. This article is intended to assist in educating you about insurance generally and not to provide personal service. They may not take into account your personal characteristics such as budget, assets, risk tolerance, family situation or activities which may affect the type of insurance that would be right for you. In addition, state insurance laws and insurance underwriting rules may affect available coverage and its costs.
This material was prepared by LPL Financial, LLC.
Both loans and withdrawals from a permanent life insurance policy may be subject to penalties and fees and, along with any accrued loan interest, will reduce the policy’s account value and death benefit. Withdrawals are taxed only to the extent that they exceed the policy owner’s cost basis in the policy and usually loans are free from current Federal taxation. A policy loan could result in tax consequences if the policy lapses or is surrendered while a loan is outstanding.
Jason Benson, LPL Financial Advisor, may be reached at 918-256-4213 or Jason.Benson@LPL.com.
124 S Scraper St, Vinita, OK 74301 www.thoroughbredfinancialsolutions.com Securities and Advisory services offered through LPL Financial, a Registered Investment Advisor. Member FINRA/SIPC. Thoroughbred Financial Solutions and LPL are separate entities.
NEW YORK–(BUSINESS WIRE)–
Winged Keel Group (“Winged Keel”) is proud to announce the addition of Christopher “Chris” Cooley, CFP® as a Senior Director and Client Relationship Manager. Based in Nashville, Tennessee, Chris will play a key role in advancing Winged Keel’s strategic expansion in the Southeast and deepen the firm’s ability to partner with institutions and advisors in the region.
Chris joins the firm with more than 30 years of experience in insurance and estate planning. Over his career, he has advised affluent families, business owners, and leading financial institutions, with senior roles at MetLife, TPG Financial, and most recently as the founder of Prosperity Life Advisory Group. Chris is recognized for his expertise in estate planning, business succession, and wealth transfer, as well as his collaborative work with financial institutions to design sophisticated planning solutions. Chris graduated cum laude with a bachelor’s degree in Business Administration and Economics from Berry College in Mount Berry, Georgia.
Joining Chris will be his longtime colleague, Trey Davis, who will join as an Associate Director, Case Design. Trey has two decades of experience preparing tailored insurance and estate planning presentations for wealth advisors and their clients nationwide. A Nashville native and Western Kentucky University alum, Trey’s focus is on insurance solutions for high-net-worth families, senior executives, and entrepreneurs.
“Chris and Trey have worked together for 18 years, and together bring deep expertise, strong relationships, and a genuine commitment to client outcomes that perfectly align with Winged Keel’s values and vision,” said Donna Litke, Managing Director. “Their addition enhances our ability to expand thoughtfully into the Southeast while continuing to deliver sophisticated solutions for institutions nationwide.”
“I’m excited to join Winged Keel’s industry-defining team,” said Cooley. “Winged Keel has set the standard for sophisticated planning, seamless advisor partnerships, and innovative solutions. This platform enables me to bring three decades of experience advising families and institutions into an environment built for scale and precision. I look forward to leveraging my experience to build lasting partnerships and deliver tailored strategies that meet the evolving needs of our clients.”
The addition of Chris and Trey underscores Winged Keel’s continued momentum following its 2025 investment partnership with GTCR, reinforcing the firm’s commitment to scaling its platform, expanding into new markets, and delivering world-class solutions to clients and partners.
About Winged Keel Group
Winged Keel Group is the premier national platform for the structuring, implementation and administration of high-end life insurance solutions. With ten offices nationally, the firm specializes in Traditional Life Insurance, Business Continuation Insurance, Private Placement Life Insurance and Annuities, and Corporate-Owned Life Insurance portfolios. For more information on Winged Keel Group, please visit www.wingedkeel.com.
Built on founding belief in affordable, accessible coverage, refreshed brand reflects SBLI’s continued purpose of offering “Simply Better Life Insurance.”
WOBURN, Mass.–(BUSINESS WIRE)–
SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts), a mutual life insurance company trusted by generations of families since 1907, today launched a refreshed evolution of its brand identity. The identity marks a renewed expression of SBLI’s mission to offer “Simply Better Life Insurance” – dependable, affordable life insurance coverage.
Updates have been made to SBLI’s visual identity, such as its logo and brand colors, as well as its voice and tone used across communications. From marketing materials to customer engagement points, the company’s external face reflects an identity that is more modern and digitally evolved, designed to make life insurance feel approachable and easy to access for customers and distribution partners alike.
“Since 1907, families have trusted SBLI to make life insurance simple, reliable, and personal. Our refreshed brand carries that promise forward with even greater clarity,” said Jim Morgan, president and chief executive officer of SBLI. “We want customers and partners to see in our brand what they experience with us every day: protection that’s easy to understand and built on trust that lasts for generations.”
Honoring Our Roots, Embracing What’s Next
SBLI was founded in 1907 by eventual United States Supreme Court Justice Louis Brandeis, who believed that working families deserved access to honest, affordable life insurance. More than a century later, that legacy continues today through SBLI’s multi-channel, multi-product approach to insurance distribution that serves a wide variety of consumers via many term life, permanent life, and annuity products. Since 2017, SBLI has operated as a mutual company, owned by its policyholders.
“With this brand refresh, we’ve aligned SBLI’s visual and tonal identity into one clear system — from a modernized wordmark and bolder use of color to a warmer, more consistent voice,” said Paul Pennelli, vice president of marketing at SBLI. “It gives us a flexible, digital-forward platform to connect with today’s customers and partners, while remaining closely tied to our past. We believe it’s Simply Better Life Insurance.”
About SBLI
For more than 115 years, SBLI (The Savings Bank Mutual Life Insurance Company of Massachusetts) has offered simple, dependable life insurance solutions to families across the United States. With a focus on clarity, personal support and long-term trust, SBLI provides term and whole life products that help people protect what matters most. For more information, visit www.sbli.com.
Concerns about market volatility and inflation putting long-term financial security at risk for Gen X
KEY FINDINGS AMONG GENERATION X:
Only 19% think it is a good time to invest in the market right now
54% worry that another market crash is on the horizon
70% say they have not been able to contribute as much to their savings due to ongoing inflation
MINNEAPOLIS–(BUSINESS WIRE)–
Generation Xers are worried about inflation and market volatility as they approach retirement, according to the 2025 Q3 Quarterly Market Perceptions Study* from Allianz Life Insurance Company of North America (Allianz Life).
Just 19% of Gen Xers think it is a good time to invest in the market right now. This is down from 30% last quarter. It is also the lowest among generations, compared to 39% of Gen Z, 36% of millennials, and 29% of boomers thinking it is a good time to invest right now. Overall, 30% of Americans say it is a good time to invest in the market right now.
At the same time, Gen Xers (54%) and millennials (54%) are more likely than Gen Z (47%) or boomers (48%) to say they worry that another market crash is on the horizon.
“As Gen X approaches retirement, it is time for them to get serious about what they would like their life to look like after leaving the workforce and how they can achieve it,” says Kelly LaVigne, VP of consumer insights, Allianz Life. “With Gen X worried about the market, it could hinder their ability to secure their ideal retirement. What’s key is that in that fragile decade it’s more important to help mitigate against the risk of loss than to have the potential to realize large gains. Risk management strategies like annuities can help by adding a level of protection into an overall portfolio.”
Gen Xers, who are mostly in their late 40s and 50s, are entering a critical time before retiring when savings rates often increase and market volatility can pose the greatest risk.
Inflation limiting Gen X retirement savings
Gen Xers are most worried about the effect of inflation on their retirement strategies. The vast majority of Gen X (81%) say they worry they might not be able to afford their desired retirement lifestyle due to the increased cost of living. Fewer Gen Z (75%), millennials (77%), and boomers (63%) said the same. Across all Americans, 74% have this worry. Gen Xers are also more likely to worry that tariffs will or have increased their cost of living expenses (81%), compared to Gen Z (74%), millennials (73%), and boomers (74%).
Adding to this worry, Gen Xers say inflation has limited their savings. Seven in 10 (70%) of Gen X say they have not been able to contribute as much to their savings due to ongoing inflation.
“Now is the time for Gen X to really put pen to paper and create a long-term financial strategy for retirement,” LaVigne says. “A financial professional can help develop a strategy that can address concerns about risks like inflation and limited savings. By outlining where you are going in your financial journey, this can help boost your confidence in your ability to get there.”
*Allianz Life conducted an online survey, the 2025 Q3 Quarterly Market Perceptions Study in August 2025 with a nationally representative sample of 1,005 Respondents age 18+.
Guarantees are backed solely by the financial strength and claims-paying ability of the issuing insurance company. Registered index-linked annuity guarantees do not apply to the performance of the variable subaccount(s), which will fluctuate with market conditions.
Products are issued by Allianz Life Insurance Company of North America (Allianz). Registered index-linked annuities are distributed by its affiliate, Allianz Life Financial Services, LLC, member FINRA, 5701 Golden Hills Drive, Minneapolis, MN 55416-1297. 800.542.5427 www.allianzlife.com
This content does not apply in the state of New York.
About Allianz Life Insurance Company of North America
Allianz Life Insurance Company of North America (Allianz Life), one of the Ethisphere World’s Most Ethical Companies®, has been trusted since 1896 to help millions of Americans prepare for financial uncertainties and retirement with a variety of innovative risk management solutions. In 2024, Allianz Life provided additional value to its policyholders via distributions of more than $18.6 billion. Allianz Life is a leading provider of fixed index annuities, registered index-linked annuities, and indexed universal life insurance. Additionally, Allianz Investment Management LLC (AllianzIM), a registered investment adviser and wholly owned subsidiary of Allianz Life, offers a suite of exchange-traded funds (ETFs). Allianz Life and AllianzIM are part of Allianz SE, a global leader in the financial services industry with more than 157,000 employees in nearly 70 countries. Allianz Life is a proud sponsor of Allianz Field® in St. Paul, Minnesota, home of Major League Soccer’s Minnesota United.
