Why Shares of Tiptree Are Soaring Today
Shares of specialty insurance and investment management company Tiptree (NASDAQ: TIPT) had jumped more than 26% as of 11:15 a.m. EDT after the company announced a strategic partnership with Warburg Pincus. A growth investment private equity firm, Warburg Pincus plans to inject $200 million into one of Tiptree's subsidiaries, The Fortegra Group, a specialty insurance company in the U.S. and Europe.