Company: TIPT
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001393726-25-000055
Chunk: 56

Company: TIPTREE INC.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 56
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 15, 2024, the Company sold its 16.98 million shares of Invesque for $0.6 million of proceeds resulting in a realized loss of $134.2 million.

(2)    Excludes Invesque and Mortgage realized and unrealized gains and losses.

Net Income (Loss) Attributable to common stockholders

50

For the three months ended March 31, 2025, the net income attributable to common stockholders was $5.6 million, compared to $9.1 million in the prior year period, driven by growth in Fortegra’s underwriting and fee income, which was more than offset by lower net realized and unrealized investments gains, and incremental interest expense on $74.8 million of outstanding borrowings at the holding company level.

Adjusted net income & Adjusted return on average equity - Non-GAAP

Adjusted net income for the three months ended March 31, 2025 was $23.3 million, an increase of $2.8 million, or 13.6%, from the three months ended March 31, 2024, driven by growth in our insurance operations. For the three months ended March 31, 2025, adjusted return on average equity was 20.0%, as compared to 19.5% for the three months ended March 31, 2024, driven by the increase in adjusted net income.

Book Value per share - Non-GAAP

Total stockholders’ equity was $683.5 million as of March 31, 2025 compared to $598.6 million as of March 31, 2024, with the increase driven by comprehensive income over the trailing four quarters, partially offset by net changes in non-controlling interests and preferred dividends paid at Fortegra. In the three months ended March 31, 2025, Tiptree returned $2.3 million to stockholders through dividends paid. 

Book value per share for the period ended March 31, 2025 was $12.63, an increase from book value per share of $11.55 as of March 31, 2024, driven by comprehensive income per share, partially offset by dividends paid of $0.49 per share, net changes in non-controlling interests and preferred dividends paid at Fortegra.

Results by Segment

We classify our business into two reportable segments, Insurance and Mortgage, with the remainder of our operations aggregated into Tiptree Capital - Other. Corporate