Company: TIPT
Filing Date: 2025-10-31
Form Type: DEFM14A
Source: 0001140361-25-039949
Chunk: 301

Company: TIPTREE INC.
Filing Date: 2025-10-31
Form: DEFM14A
Chunk 301
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, |     |          |     | Nine Months Ended 
     September 30, |     |          |
|                                     |     |               2025 |     |     2024 |     |              2025 |     |     2024 |
| Short duration incurred             |     |           $191,463 |     | $175,845 |     |          $566,726 |     | $555,680 |
| Other lines incurred                |     |                 -5 |     |      -83 |     |               -83 |     |      -26 |
| Unallocated loss adjustment expense |     |                944 |     |      170 |     |             3,478 |     |      917 |
| Total losses incurred               |     |           $192,402 |     | $175,932 |     |          $570,121 |     | $556,571 |

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TABLE OF CONTENTS

THE FORTEGRA GROUP, INC. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements (Unaudited) September 30, 2025 (in thousands, unless otherwise noted) During the nine months ended September 30, 2025, the Company experienced favorable prior year development of $7,106, as a result of lower-than-expected losses predominantly in its commercial property and personal property coverages. During the nine months ended September 30, 2024, the Company experienced unfavorable prior year development of $646, as a result of higher-than-expected losses in its commercial lines of business. Management considers the prior year development for each of the two periods to be insignificant when considered in the context of our annual earned premiums, net as well as our net losses and loss adjustment expenses and member benefit claims expenses. We analyze our development on a quarterly basis, and given the short duration nature of our products, favorable or adverse development emerges quickly and allows for timely reserve strengthening, if necessary, or modifications to our product pricing or offerings. The favorable prior year development of $7,106 in the nine months ended September 30, 2025 represented 4.4% of pre-tax income of $160,421 and 1.1% of the opening net liability for losses and loss adjustment expenses of $658,210, as of January 1, 2025. The unfavorable prior year development of $646 in the nine months ended September 30, 2024 represented 0.5% of pre-tax income of $