Company: TIPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001393726-25-000028
Chunk: 197

Company: TIPTREE INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 197
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, Net of Reinsurance (Unaudited)Years12345678910Short duration67.4%16.7%2.6%1.3%0.9%0.7%—%0.1%—%—%

F-50

TIPTREE INC. AND SUBSIDIARIESNotes to Consolidated Financial StatementsDecember 31, 2024(in thousands, except share data)

Reconciliation of Reserves to Balance SheetThe following table presents a reconciliation of net outstanding liabilities for unpaid loss and loss adjustment expenses of short-duration contracts to the consolidated balance sheets value of policy liabilities and unpaid claims:As of December 31, 2024Net outstanding liabilities:Short duration$658,210 Insurance lines other than short duration23 Total liabilities for unpaid losses and loss adjustment expenses, net of reinsurance658,233 Reinsurance recoverable on unpaid losses and loss adjustment expenses:Short duration636,300 Other insurance lines407 Total reinsurance recoverable on unpaid losses and loss adjustment expenses636,707 Total gross liability for unpaid losses and loss adjustment expenses1,294,940 Liabilities of policy-holder account balances, gross304 Non-insurance warranty benefit claim liabilities2,837 Total policy liabilities and unpaid claims$1,298,081 

(14) Revenue from Contracts with Customers

The Company’s revenues from insurance and contractual and liability insurance operations are primarily accounted for under Financial Services-Insurance (ASC 944) that are not within the scope of Revenue for Contracts with Customers (ASC 606). The Company’s remaining revenues that are within the scope of ASC 606 are primarily comprised of revenues from contracts with customers for monthly membership dues for motor clubs, monthly administration fees for services provided for premiums, claims and reinsurance processing revenues, vehicle service contracts, vessel related revenue and revenues for household goods and appliances service contracts (collectively, remaining contracts). The following table presents the disaggregated amounts of revenue from contracts with customers by product type for the following periods:For the Year Ended December 31,202420232022Service and Administrative Fees:Service contract revenue$294,504 $289,660 $210,817 Motor club revenue43,258 46,394 53,346 Other3,707 5,305 36,060 Revenue from contracts with customers$341,469 $341,359 $300,223 Service and Administrative FeesService and administrative fees are generated from non-insurance programs including warranty service contracts,