Company: TIPT
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001393726-25-000055
Chunk: 158

Company: TIPTREE INC.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part II, Item 8
Chunk 158
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2)100,57832,782133,360105,370 34,215 139,585 Underwriting and Fee Margin (1)$84,313$24,245$108,558$69,442 $31,392 $100,834 Loss ratio49.3 %34.1 %46.4 %50.1 %33.0 %46.3 %Acquisition ratio27.6 %37.9 %29.6 %30.1 %35.0 %31.2 %Underwriting ratio76.9 %72.0 %76.0 %80.2 %68.0 %77.5 %

(1)    See “—Non-GAAP Reconciliations” for a discussion of non-GAAP financial measures.

(2)     Commission expense in this table is presented net of ceding fees and ceding commissions of $14.6 million and $3.6 million, respectively, as of the three months ended March 31, 2025, and $14.6 million and $2.7 million, respectively, as of the three months ended March 31, 2024. 

Underwriting and fee revenues were $451.2 million for the three months ended March 31, 2025 as compared to $448.1 million for the three months ended March 31, 2024. Total underwriting and fee revenues increased $3.1 million, or 0.7%, driven by growth in Insurance. The increase in Insurance was $14.5 million, or 4.2%, driven by growth in commercial, E&S, and credit insurance lines. The decrease in Services was $11.4 million, or 11.6%, driven by decrease in vehicle service contracts and premium finance offerings.

Underwriting and fee margin was $108.6 million for the three months ended March 31, 2025 as compared to $100.8 million for the three months ended March 31, 2024. Total underwriting and fee margin increased $7.7 million, or 7.7%, driven by growth in Insurance. Insurance grew by $14.9 million, or 21.4%, from growth in specialty E&S and admitted lines. Services decreased by $7.1 million, or 22.8%, primarily driven by decrease in vehicle service contracts and premium finance offerings