Company: TIPT
Filing Date: 2025-10-17
Form Type: PREM14A
Source: 0001140361-25-038514
Chunk: 267

Company: TIPTREE INC.
Filing Date: 2025-10-17
Form: PREM14A
Chunk 267
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 |     |       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 and loss adjustment expenses of $393,455, as of January 1, 2024. The favorable prior year development of $11,187 in the year ended December 31, 2023 represented 8.6% of pre-tax income of $129,816 and 3.8% of the opening net liability for losses and loss adjustment expenses of $298,057, as of January 1, 2023. 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 represents the amount necessary to pay all claims and related expenses which may arise from incidents that have occurred as of the balance sheet date. Incurred and Paid Development The 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