Tiptree Insurance to Acquire Smart AutoCare
Tiptree Inc.’s insurance division is set to more than double its presence in the F&I products segment with the acquisition of Smart AutoCare.

NEW YORK and RICHARDSON, Texas — Tiptree Insurance (div. Tiptree Inc.) has agreed to acquire vehicle service contract and asset protection provider Smart AutoCare, the companies announced. The all-cash transaction is expected to close in the first quarter of 2020; Smart AutoCare founder Peter Masi is expected to remain as CEO.
“As a business partner of Smart AutoCare’s for many years, we have profound respect for Peter and the business he has built,” said Tiptree Insurance President and CEO Rick Kahlbaugh. “Tiptree has been diligently exploring strategic opportunities in the warranty industry, and we are confident that we have found the right acquisition in Smart AutoCare. We are thrilled to welcome Smart AutoCare and Peter to the Tiptree Insurance family of companies.”
The acquisition is expected to expand Tiptree’s warranty distribution channels by more than doubling its presence in the F&I products sector. With annualized premiums and equivalents of $200 million and cash and liquid assets of $120 million, executives said Smart AutoCare will enhance Tiptree’s scale and market presence by nearly 40% and significantly increase Tiptree’s fee-based cash flows generated outside of its regulated insurance subsidiaries.
“This creates a unique opportunity in the marketplace to position ourselves as a leader with a strong capital position, allowing us the resources and a flexible approach to provide solutions to our dealers and agents,” Masi said. “This transaction creates an identity unlike any other in recent deals for us and our clients nationwide.”
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