Company: TIPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001393726-25-000028
Chunk: 193

Company: TIPTREE INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 193
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 (7) Notes and Accounts Receivable, net.

Due from Brokers, Dealers, and Trustees and Due to Brokers, Dealers and Trustees: The carrying amounts are included in other assets and other liabilities and accrued expenses and approximate their fair value due to their short term nature. Categorized under Level 2 in the fair value hierarchy. 

F-47

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

(13) Liability for Unpaid Claims and Claim Adjustment Expenses

Roll forward of Claim LiabilityThe following table presents the activity in the net liability for unpaid losses and allocated loss adjustment expenses of short duration contracts for the following periods: For the Year Ended December 31,20242023Policy liabilities and unpaid claims balance as of January 1,$844,848 $567,193      Less: liabilities of policy-holder account balances, gross(878)(1,923)     Less: non-insurance warranty benefit claim liabilities(2,103)(140)Gross liabilities for unpaid losses and loss adjustment expenses841,867 565,130      Less: reinsurance recoverable on unpaid losses - short duration(448,117)(266,889)     Less: other lines, gross(295)(184)Net balance as of January 1, short duration393,455 298,057 Incurred (short duration) related to:     Current year720,544 493,187      Prior years(624)(11,187)Total incurred719,920 482,000 Paid (short duration) related to:     Current year342,708 234,723      Prior years112,457 151,879 Total paid$455,165 $386,602 Net balance as of December 31, short duration$658,210 $393,455      Plus: reinsurance recoverable on unpaid losses - short duration636,300 448,117      Plus: other lines, gross430 295 Gross liabilities for unpaid losses and loss adjustment expenses1,294,940 841,867      Plus: liabilities of policy-holder account balances, gross304 878      Plus: non-insurance warranty benefit claim liabilities2,837 2,103 Policy liabilities and unpaid claims balance as of December 31, $1,298,081 $844,848 The following schedule