Company: TIPT
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001393726-25-000055
Chunk: 213

Company: TIPTREE INC.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 2
Chunk 213
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.2% and 31.5%, respectively.

Balance Sheet Information

Tiptree’s total assets were $5,819.5 million as of March 31, 2025, compared to $5,694.8 million as of December 31, 2024. The $124.7 million increase in assets is primarily attributable to the growth in the Insurance segment. 

Total stockholders’ equity was $683.5 million as of March 31, 2025, compared to $656.8 million as of December 31, 2024, with the increase primarily driven by comprehensive income for the three months ended March 31, 2025. As of March 31, 2025, there were 37,493,883 shares of common stock outstanding as compared to 37,255,838 shares as of December 31, 2024, with the increase driven by the vesting of share-based incentive compensation.

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In March and April 2024, Tiptree, Warburg and Fortegra independent directors contributed $30.0 million, $9.9 million and $0.1 million, respectively, to Fortegra in exchange for common shares of Fortegra. As of March 31, 2025, Fortegra was owned approximately 79.1% by Tiptree Holdings, 17.7% by Warburg and 3.2% by management and directors of Fortegra, before giving effect to the exercise of outstanding warrants and management options, and the conversion of outstanding preferred stock.

The following table is a summary of certain balance sheet information:

As of March 31, 2025($ in thousands)Tiptree CapitalInsuranceMortgageOtherCorporateTotalTotal assets$5,493,098 $214,697 $90,773 $20,924 $5,819,492 Corporate debt$311,000 $— $— $74,813 $385,813 Asset based debt51,019 76,064 — — 127,083 Tiptree Inc. stockholders’ equity (1)$458,179 $55,790 $89,410 $(129,660)$473,719 Non-controlling interests:Fortegra preferred interests77,679 — — — 77,679 Common interests132,064 — — — 132,064 Total stockholders’ equity$667,922 $