Company: TIPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001393726-25-000028
Chunk: 195

Company: TIPTREE INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 195
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 $858 in the year ended December 31, 2022 represented 1.3% of our insurance business income before taxes of $68,150, and 0.6% of the opening net liability for losses and loss adjustment expenses of $154,412, as of January 1, 2022. Based upon our internal analysis and our review of the statement of actuarial opinions provided by our actuarial consultants, we believe that the amounts recorded for policy liabilities and unpaid claims reasonably represent the amount necessary to pay all claims and related expenses which may arise from incidents that have occurred as of the balance sheet date.

F-49

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

Incurred and Paid DevelopmentThe following table presents information about incurred and paid loss development and average claim duration as of December 31, 2024, net of reinsurance, as well as cumulative claim frequency and the total of IBNR liabilities plus expected development on reported claims included within the net incurred claims amounts. The cumulative number of reported claims represents open claims, claims closed with payment, and claims closed without payment. It does not include an estimated count of unreported claims. The number of claims is measured by claim event. The Company considers a claim that does not result in a liability as a claim closed without payment. Incurred Losses and Allocated Loss Adjustment Expenses, Net of ReinsuranceAs of December 31, 2024For the Years Ended December 31,Total of IBNR Liabilities Plus Expected Development of Reported ClaimsCumulative Number of Reported ClaimsUnauditedAccident Year2015201620172018201920202021202220232024201559,579 57,470 57,588 57,815 58,141 58,194 58,248 58,285 58,309 58,310 $— 178 201684,178 87,290 87,993 88,615 89,629 89,981 89,516 89,579 89,578 $78 257 2017103,306 104,898 105,601 105,787 106,446 106,517 106,592 106,602 $132 326 2018129,352 133,225 133,158 134,392 123,228 118,721 118,