Company: TIPT
Filing Date: 2025-10-31
Form Type: DEFM14A
Source: 0001140361-25-039949
Chunk: 267

Company: TIPTREE INC.
Filing Date: 2025-10-31
Form: DEFM14A
Chunk 267
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 account balances, gross       |     |                304 |     |      878 |
| Plus: non-insurance warranty benefit claim liabilities           |     |              2,837 |     |    2,103 |
| Policy liabilities and unpaid claims balance as of December 31,  |     |         $1,298,081 |     | $844,848 |

The following schedule reconciles the total short duration contracts per the table above to the amount of total losses incurred as presented in the consolidated statements of operations, excluding the amount for member benefit claims:

|                                      |     | For the Year Ended 
       December 31, 
               2024 |     |     2023 |
|:-------------------------------------|:----|-------------------:|:----|---------:|
| Short duration incurred              |     |           $719,920 |     | $482,000 |
| Other lines incurred                 |     |                 53 |     |       30 |
| Unallocated loss adjustment expenses |     |              2,217 |     |      476 |
| Total losses incurred                |     |           $722,190 |     | $482,506 |

During the year ended December 31, 2024, the Company experienced favorable prior year development of $624, as a result of lower-than-expected losses in its commercial lines of business.

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THE FORTEGRA GROUP, INC. AND SUBSIDIARIES Notes to Consolidated Financial Statements December 31, 2024 & 2023 (in thousands, unless otherwise noted) During the year ended December 31, 2023, the Company experienced favorable prior year development of $11,187, as a result of lower-than-expected claims paid development in our commercial lines of business, driven mainly by a single partner. Management considers the prior year development for each of the two years 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 $624 in the year ended December 31, 2024 represented 0.3% of pre-tax income of $183,158 and 0.2% of the opening net liability for losses