Financial Data and Key Metrics Changes - Revenues for the year increased to a record $1.4 billion, up 16% from the prior year, contributing adjusted net income of $63 million [9] - Adjusted net income increased to $84 million for 2022, representing a 37% growth rate over the past four years [15] - Book value per share of $10.92 increased by 2.6% compared to the prior quarter and decreased by 1.3% over the prior year [20] Business Line Data and Key Metrics Changes - Fortegra's top line premiums grew by 22% for the year, with a record adjusted return on equity of 26% [9] - Quarterly premiums and equivalents for Fortegra were $724 million, up 26% year-over-year, driven by growth in excess and surplus and warranty lines [22] - The combined ratio for Fortegra remained stable year-over-year at 89.8% [22] Market Data and Key Metrics Changes - The investment portfolio increased in size by 27% to $1.2 billion, with 92% invested in cash and high credit quality liquid securities [4][35] - Mortgage volumes were down 29% in 2022, although Reliance's performance was better than the broader market [28] Company Strategy and Development Direction - The company is focused on deploying capital with the objective of long-term shareholder value appreciation [30] - There is a robust specialty pipeline and a long history of consistent growth and profitable underwriting in the insurance business [4] - The company is exploring options for potential IPOs or monetization events to enhance shareholder value [42][47] Management's Comments on Operating Environment and Future Outlook - Management expressed a positive outlook for the mortgage business as rates stabilize, despite challenges in origination volumes [17] - The company remains confident in the outlook for Fortegra and sees significant opportunities to create value from underwriting income and investment profitability [37] Other Important Information - The company announced a 25% increase in its dividend to $0.05 per share as of March 2023, reflecting the strength in its operating businesses [18] - The transaction with Warburg Pincus resulted in a $63 million pre-tax gain, partially offset by a $45 million tax expense related to the tax deconsolidation of Fortegra [21] Q&A Session Summary Question: Thoughts on closing the gap between estimated fair value and current trading price - Management acknowledged the importance of closing the gap and is focused on growth and communicating Fortegra's unique value [39][46] Question: Consideration of spinning off Tiptree Capital - Management is exploring all options, including potential IPOs, to maintain shareholder value while focusing on growth [41][42][47]

Market and Competitive Risks - The company operates in highly competitive markets, which could impede growth and negatively impact results[19] - The cyclical nature of the insurance industry may lead to fluctuations in results and profitability[20] - The insurance business relies heavily on independent distribution partners, and the loss of these relationships could materially impact sales and revenues[146] - New lines of business or geographic markets may introduce additional risks, including increased competition and potential limitations on writing new insurance contracts[155] - Economic downturns may reduce demand for insurance products, leading to fewer policy sales and increased claims frequency[169] Financial and Capital Risks - A significant portion of the company's assets are illiquid, creating uncertainty in valuing these assets[19] - The company may need to raise additional capital in the future, with no assurance that it will be available on acceptable terms[19] - The insurance subsidiaries may face challenges in generating sufficient cash flows to service their indebtedness, impacting financial stability[176] - The company faces substantial liquidity problems if cash flows and capital resources are insufficient to fund debt service obligations, potentially leading to asset disposals or changes in dividend policy[177] - The insurance subsidiaries' inability to generate sufficient cash flows to satisfy debt obligations may materially adversely affect business operations and financial condition[178] Investment and Market Risks - The company's investment portfolio is subject to various risks, including market volatility and potential defaults[19] - Interest rates increased significantly in 2022, leading to a decrease in the value of fixed income securities[133] - The insurance subsidiaries may shift their investment strategy towards equity securities, increasing portfolio risk and potential volatility, which could adversely affect profitability[138] - There is a risk that the insurance subsidiaries may need to sell investments to meet liquidity requirements, potentially resulting in significant realized losses depending on market conditions[139] - The value of mortgage servicing rights (MSRs) is highly sensitive to interest rate changes, with decreases in rates potentially leading to increased prepayment rates and reduced MSR values[197] Regulatory and Compliance Risks - The evolving regulatory environment regarding data privacy and cybersecurity could increase compliance costs and expose the Company to regulatory enforcement actions[245] - The company is subject to extensive regulations, including the California Consumer Privacy Act (CCPA) and the General Data Protection Regulation (GDPR), which may increase compliance costs and limit business opportunities[250] - Regulatory actions by the Consumer Financial Protection Bureau (CFPB) could influence sales practices and cost structures related to insurance products, potentially reducing revenue[252] - The company faces increased compliance costs due to the CFPB's heightened scrutiny and regulatory requirements, which could adversely affect its mortgage business[256] - Changes in accounting practices and interpretations could materially affect the company's reported financial results and require additional compliance costs[225] Operational Risks - The company faces risks related to cybersecurity attacks and information system failures[19] - Cybersecurity threats pose a significant risk to the business operations, potentially leading to loss of critical information and reputational damage[140] - Cybersecurity incidents may necessitate resource expenditure for remediation, which could disrupt business operations and lead to financial losses[142] - Catastrophic events, such as severe weather and pandemics, could significantly disrupt the Company's operations and adversely affect its financial condition[227] - The Company's insurance subsidiaries may face challenges in writing new policies due to increased frequency and severity of natural disasters, which could lead to substantial volatility in their financial results[229] Credit and Reinsurance Risks - The company is exposed to risks related to the creditworthiness of independent agents and program partners[20] - The insurance subsidiaries face risks related to the cost and availability of reinsurance, which could impact underwriting commitments and overall business operations[152] - The insurance subsidiaries currently hold financial strength ratings of "A-" (Excellent) from A.M. Best and "A–" (Outlook Stable) from KBRA, which are subject to periodic review and could be downgraded[149] - A downgrade in financial strength ratings could lead to increased policy surrenders and adversely affect relationships with distributors, reducing new policy sales[148] Human Resource Risks - The ability to attract and retain experienced personnel is critical for maintaining competitive positioning, with potential challenges in recruitment and retention due to market dynamics[161] - The growth of the customer base depends on effective sales and marketing activities, which may be hindered by difficulties in recruiting qualified personnel[162] Economic and Political Risks - The exit of the United Kingdom from the European Union could adversely affect the company's business[20] - International operations expose the insurance subsidiaries to investment, political, and economic risks, including foreign currency and credit risk[159] - The company is exposed to risks associated with international trade and economic sanctions, which may increase compliance costs and penalties for violations[261] Miscellaneous Risks - The company's charter includes provisions that may delay or prevent takeovers, potentially affecting stockholder interests[233] - Changes in state or federal laws regarding sales tax could result in substantial tax liabilities for the Company's insurance business[242] - Non-compliance with anti-corruption laws could lead to severe administrative, civil, and criminal sanctions, adversely affecting the company's operations and reputation[263] - The shipping business is subject to complex environmental regulations, and violations could result in substantial fines and costs[266]

Tiptree Inc. (NASDAQ:TIPT) Q3 2022 Results Conference Call November 3, 2022 9:00 AM ET Company Participants Scott McKinney - Deputy CFO Michael Barnes - Executive Chairman Jonathan Ilany - CEO Sandra Bell - CFO Operator Welcome to the Tiptree Inc. Third Quarter 2022 Earnings Conference Call [Operator Instructions]. I would now like to turn the conference over to Scott McKinney, Deputy CFO. Please go ahead. Scott McKinney Good morning, and welcome to our third quarter 2022 earnings call. We are joined today ...

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 September 30, 2022 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 ...

Midwest IDEAS Conference August 2022 Disclaimers 1 LIMITATIONS ON THE USE OF INFORMATION This presentation has been prepared by Tiptree Inc. and its consolidated subsidiaries ("Tiptree", "the Company" or "we") solely for informational purposes, and not for the purpose of updating any information or forecast with respect to Tiptree, its subsidiaries or any of its affiliates or any other purpose. Tiptree reports a non-controlling interest in certain operating subsidiaries that are not wholly owned. Unless oth ...

Investor Presentation – Second Quarter 2022 August 2022 Financial Information for the three and six months ended June 30, 2022 TiptreeInc. Disclaimers LIMITATIONS ON THE USE OF INFORMATION This presentation has been prepared by Tiptree Inc. and its consolidated subsidiaries ("Tiptree", "the Company" or "we") solely for informational purposes, and not for the purpose of updating any information or forecast with respect to Tiptree, its subsidiaries or any of its affiliates or any other purpose. Tiptree report ...

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 June 30, 2022 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 In ...

Tiptree Inc. (NASDAQ:TIPT) Q1 2022 Earnings Conference Call May 6, 2022 9:00 AM ET Company Participants Sandra Bell - Chief Financial Officer Michael Barnes - Executive Chairman Conference Call Participants Alex Vezendan - Veradace Capital Walter Schenker - MAZ Partners Operator Greetings. Welcome to the Tiptree Inc.’s First Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instruction ...

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, 2022 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 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) 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 Incorporation) | | | (I.R.S. Employer Identification No.) | | 299 Park Avenue New York | 13th Floor ...