Company: TIPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001393726-25-000028
Chunk: 59

Company: TIPTREE INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1
Chunk 59
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 Treasury and U.S. Government agencies$416 $385 35.1 %$467 $441 57.1 %Obligations of state and political subdivisions42 39 3.6 %49 45 5.8 %Corporate securities606 598 54.5 %261 255 33.0 %Asset-backed securities25 23 2.1 %29 26 3.4 %Certificate of deposits1 1 0.1 %1 1 0.1 %Obligations of foreign governments52 51 4.6 %5 5 0.6 %Total available for sale investments$1,141 $1,097 100 %$812 $773 100 %The following table provides the credit quality of Fortegra’s available for sale investments as of December 31, 2024 and 2023: As of($ in millions)December 31, 2024December 31, 2023Rating:Amortized CostFair Value% of Total Fair ValueAmortized CostFair Value% of Total Fair ValueAAA$41 $39 3.6 %$29 $27 3.5 %AA524 489 44.6 %540 509 65.9 %A173 169 15.4 %162 154 19.9 %BBB337 335 30.5 %64 65 8.4 %BB36 35 3.2 %12 12 1.6 %B or unrated31 31 2.8 %5 5 0.6 %Total available for sale investments$1,141 $1,097 100 %$812 $772 100 %The amortized cost and fair value of Fortegra’s available for sale investments is summarized by contractual maturity as of December 31, 2024 in the table below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations.($ in millions)As of December 31, 2024Amortized CostFair Value% of Total Fair ValueDue in one year or less$239 $239 22 %Due after one year through five years43843139 %Due after five years through ten years22420218 %Due