Group 1 - Catalyst Hedge Investing provides members with early access to articles and exclusive investment ideas, focusing on asymmetric risk/reward opportunities with clear catalysts [1] - Cashflow Hunter has extensive market experience, particularly in hedge fund management, and has successfully predicted significant market events, such as the collapse of Silicon Valley Bank [2] - The article expresses the author's personal opinions and discloses a beneficial long position in TIPT shares, indicating a vested interest in the company's performance [3]

Financial Performance - Revenues for Q3 2024 were $494.4 million, an increase of 18.7% from Q3 2023, driven by growth in Fortegra's specialty insurance lines[3] - Net income for Q3 2024 was $11.9 million, compared to $2.2 million in Q3 2023, reflecting growth in the insurance business[3] - Adjusted net income for Q3 2024 was $27.9 million, up 55.9% from $17.9 million in Q3 2023, with an annualized adjusted return on average equity of 24.8%[4] - Year-to-date revenues for 2024 reached $1.54 billion, an increase of 28.0% from 2023, driven by specialty insurance lines and net investment income[5] - Year-to-date net income for 2024 was $33.8 million, compared to $7.1 million in 2023, driven by growth in insurance and improved mortgage operations[5] - Total revenues for the three months ended September 30, 2024, were $494,362 thousand, a 18.7% increase from $416,514 thousand in the same period of 2023[25] - Net income attributable to common stockholders for the three months ended September 30, 2024, was $11,915 thousand, compared to $2,153 thousand in the same period of 2023, representing a significant increase of 453.5%[25] - Adjusted net income for the three months ended September 30, 2024, was $31,728,000, a decrease from $36,186,000 in the previous period[28] - For the nine months ended September 30, 2024, total income before taxes was $107,126,000, with an adjusted net income of $72,827,000[30] - The company reported a total income before taxes of $52,988,000 for the three months ended September 30, 2024, with an adjusted net income of $48,063,000[31] Premiums and Underwriting - Gross written premiums for Q3 2024 were $776.8 million, an increase of 13.2%, and $2.22 billion for the year, an increase of 9.5%[8] - Net written premiums for Q3 2024 were $389.3 million, an increase of 16.6%, and $1.07 billion for the year, an increase of 14.7%[9] - The combined ratio for Q3 2024 was 90.2%, consistent with Q3 2023, indicating stable underwriting performance[10] Equity and Assets - Fortegra's total stockholders' equity increased to $606.4 million as of September 30, 2024, from $452.6 million at the end of 2023, driven by net income and capital contributions[12] - Total stockholders' equity increased to $656,200 thousand as of September 30, 2024, from $576,565 thousand as of December 31, 2023[23] - Total assets as of September 30, 2024, were $5,505,733 thousand, an increase from $5,139,313 thousand as of December 31, 2023[23] - Total liabilities increased to $4,849,533 thousand as of September 30, 2024, compared to $4,562,748 thousand as of December 31, 2023[23] Cash and Expenses - Cash and cash equivalents decreased to $396,187 thousand as of September 30, 2024, from $468,711 thousand as of December 31, 2023[23] - Stock-based compensation expense for the three months ended September 30, 2024, totaled $5,957,000, an increase from $1,963,000 in the previous period[28] - The company reported a non-recurring expense of $119,000 for the three months ended September 30, 2024[28] - Other expenses included legal and other costs associated with the preparation of the registration statement for the withdrawn Fortegra initial public offering in 2024[3] Investment Performance - Tiptree Capital reported a loss before taxes of $2.7 million for Q3 2024, an improvement from a loss of $6.1 million in Q3 2023, driven by unrealized investment losses[13] - The company experienced net realized and unrealized losses of $6,428,000 for the nine months ended September 30, 2024[30] - The company added back $5.9 million and $16.7 million related to deferred tax expense from the WP Transaction for the three and nine months ended September 30, 2024, respectively[5] - Non-cash fair-value adjustments for the three and nine months ended September 30, 2024, included changes in fair value of the Fortegra Additional Warrant liability, which were added back to adjusted net income[4] Shareholder Equity - The average stockholders' equity increased to $637,135,000, compared to $577,776,000 in the prior period, reflecting a growth of approximately 10.3%[28] - The average Tiptree Inc. stockholders' equity was $449.2 million for the three months ended September 30, 2024, compared to $399.0 million in 2023[7] - The average Tiptree Inc. stockholders' equity for the nine months ended September 30, 2024, was $439.4 million, compared to $396.7 million in 2023[7] Future Plans - The company plans to take Fortegra public, subject to market conditions and other factors[21] - The company experienced a significant increase in adjusted net income and return on equity, indicating strong financial performance and effective management strategies[7]

Core Insights - Fortegra Group, Inc. has appointed Richard Mangion as Chief Financial Officer for its UK and European business, effective October 21, 2024 [1][2] - Mangion brings over 23 years of experience in financial analysis, risk management, and business development from previous roles at multinational corporations [1][2] - The appointment is aimed at enhancing Fortegra's financial performance and accelerating growth in Europe [2] Company Overview - Fortegra has been providing risk management solutions for over 45 years and is recognized as a multinational specialty insurer [3] - The company holds an A.M. Best Financial Strength Rating of A- (Excellent) and an A.M. Best Financial Size Category of 'X' [3] - Fortegra offers a diverse range of insurance products and warranty solutions through its subsidiaries [3] European Operations - Fortegra Europe Insurance Company Limited (FEIC) was established in 2018 and is authorized to underwrite warranty insurance in various EU countries [4] - In 2024, Fortegra Belgium Insurance Company received permissions to underwrite specialty lines of business across the EU from its Brussels base [4] - The Belgian operation provides access to strategic distribution channels and collaborates with European managing general agents for flexible deal structures [4]

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JACKSONVILLE, Fla., June 11, 2024 /PRNewswire/ -- The Fortegra Group, Inc. ("Fortegra" or the "Company"), a multinational specialty insurer and subsidiary of Tiptree Inc. (NASDAQ: TIPT), today announced its approval to operate in Belgium and the European Union. Fortegra Belgium Insurance Company, NV will be based in Brussels and will underwrite specialty lines of business. Fortegra Europe Insurance Company, Fortegra's Malta company, will continue its focus on warranty products. "The MGA space across Europe ...

Tiptree Inc (NASDAQ:TIPT) Q1 2024 Results Conference Call May 2, 2024 10:30 AM ET Company Participants Scott McKinney - Chief Financial Officer Michael Barnes - Executive Chairman of the Board Operator Greetings, and welcome to the Tiptree Inc. First Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Scott McKinney, Chief Financial Officer for Tiptree. Thank you, Scott. You may begin. Scott McKinney G ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Quarterly period ended March 31, 2024 OR ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission File Number: 001-33549 Tiptree Inc. (Exact name of Registrant as Specified in Its Charter) Maryland 38-3754322 (State or Other Jurisdiction of I ...

Exhibit 99.1 TIPTREE ANNOUNCES FIRST QUARTER 2024 RESULTS Greenwich, Connecticut - May 1, 2024 - Tiptree Inc. (NASDAQ:TIPT) ("Tiptree" or the "Company"), today announced its financial results for the first quarter 2024. Financial results for the three months ended March 31, 2024 and 2023 are as follows: (1) See "—Non-GAAP Reconciliations" for a discussion of non-GAAP financial measures. Adjusted net income is presented after the impacts of non-controlling interests. First Quarter 2024 Summary Page 1 • Reven ...

TiptreeInc. ir@tiptreeinc.com SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS Adj. net income1,2 of $115.7mm, up 38% from prior year driven by revenue growth and consistent combined ratio. Adjusted Net Income by business Q4'23 Highlights & Outlook Book yield 2.7% 3.3% Gross Written Premiums & Equivalents1 Underwriting & Fee Revenues and Margin2 Financial drivers Investor Presentation – Fourth Quarter 2023 February 2024 NON-GAAP MEASURES Net income of $14mm in 2023. Included is $19.1mm of tax expense relat ...

Market and Economic Risks - The company operates in highly competitive markets, which could impede growth and negatively impact results of operations [19]. - Interest rates have increased significantly during 2022 and 2023, leading to a decrease in the value of fixed income securities held by the company [157]. - Economic downturns and adverse conditions could lead to reduced policy sales and increased claims, negatively impacting growth and profitability [195]. - The exit of the United Kingdom from the European Union could adversely affect the company's business operations [20]. - The mortgage business is significantly impacted by interest rates, with a rapid series of interest rate increases by the Federal Reserve in 2022 and 2023 leading to lower revenue and profitability [223]. Investment and Financial Risks - A portion of the company's assets are illiquid, creating uncertainty in valuing such assets and limiting the ability to sell at favorable prices [19]. - The company's investment portfolio is subject to various risks, including market volatility and potential defaults, which could reduce net investment income [157]. - The company may need to raise additional capital in the future, but there is no assurance that such capital will be available on acceptable terms [19]. - The company is exposed to various risks including credit risk, market risk, interest rate risk, credit spread risk, call and redemption risk, and refinancing risk, which may adversely affect asset values and financial condition [241]. - Recent increases in interest rates have led to unrealized losses on certain investments, negatively impacting business results and increasing borrowing costs [243]. Regulatory and Compliance Risks - The company faces risks associated with regulatory compliance, which could increase costs and affect business models [20]. - The insurance subsidiaries must comply with minimum capital and surplus requirements, which could restrict dividend distributions and impact financial resources [262]. - Compliance with extensive laws and regulations may increase costs and limit the company's ability to pursue business opportunities [279]. - Increased regulatory scrutiny in the financial services industry may result in adverse effects from legal proceedings, including fines and penalties [288]. - The mortgage business is subject to increased regulatory scrutiny from the CFPB, which may raise administrative and compliance costs significantly [285]. Operational Risks - The company is exposed to risks related to cybersecurity attacks and information system failures, which could disrupt business operations [19]. - The performance of the company's investment portfolio is highly dependent on the skills of investment professionals, and the loss of key individuals could adversely affect performance [162]. - The insurance business relies on independent distributors for product sales, and loss of these relationships could materially affect revenue and operations [170]. - The insurance subsidiaries face challenges in launching and integrating new insurance programs, which may not achieve necessary market penetration for profitability [189]. - Third-party vendors may not perform as expected, leading to operational difficulties and increased costs [212]. Insurance and Claims Risks - The company's insurance subsidiaries' actual claims losses may exceed their reserves, potentially requiring the establishment of additional reserves [19]. - The insurance subsidiaries face risks from potential increases in reinsurance costs or unavailability, which could require them to bear more risk [175]. - Failure to accurately and timely pay claims could lead to regulatory actions and damage the company's reputation, adversely affecting financial performance [176]. - The insurance subsidiaries are expanding into new lines of business and geographic markets, which may involve significant risks and uncertainties, including potential failure to achieve profitability targets [179]. - Emerging claim and coverage issues may adversely affect the insurance subsidiaries' business, potentially extending coverage beyond underwriting intent or increasing claims [181]. Reputation and Brand Risks - The insurance subsidiaries face risks related to brand reputation, which could adversely affect customer acquisition and operational results [197]. - Negative publicity could lead to a decrease in customer visits to platforms and an increase in customer acquisition costs [198]. - The ability to attract and retain qualified personnel is critical for the success of the insurance subsidiaries, with potential challenges in maintaining competitive compensation [186]. - Maintaining high service levels is essential, as any decline could harm reputation and financial performance [190]. - The company is involved in a class action lawsuit alleging violations of the Consumer Protection Act, which could divert management resources and incur significant expenses [289]. Capital and Liquidity Risks - The ability to service debt obligations is contingent on financial performance, which may be impacted by external economic conditions [201]. - Insufficient cash flows could lead to liquidity issues, forcing the company to delay investments or alter its dividend policy [202]. - The company maintains reserves for potential loan repurchase or indemnification losses, but there is no assurance that these reserves will be sufficient to cover future claims [235]. - The company’s mortgage business is exposed to claims from borrowers and investors, which could arise from alleged breaches or errors, potentially impacting financial results [236]. - The company may face challenges in obtaining sufficient capital for financing as it expands operations, which could affect mortgage loan production activities [231].