Company: TIPT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001393726-25-000076
Chunk: 21

Company: TIPTREE INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 21
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216,334 (22,189)(10.3)%Ceding commissions7,175 7,809 (634)(8.1)%Net investment income22,234 13,139 9,095 69.2 %Net realized and unrealized gains (losses)8,549 5,364 3,185 59.4 %Other revenue16,117 20,275 (4,158)(20.5)%Total revenues$993,598 $1,008,698 $(15,100)(1.5)%Expenses:Net losses and loss adjustment expenses$377,719 $380,639 $(2,920)(0.8)%Member benefit claims58,066 61,000 (2,934)(4.8)%Commission expense292,086 330,227 (38,141)(11.5)%Employee compensation and benefits74,146 63,008 11,138 17.7 %Interest expense17,292 15,127 2,165 14.3 %Depreciation and amortization8,934 9,916 (982)(9.9)%Other expenses60,157 60,720 (563)(0.9)%Total expenses$888,400 $920,637 $(32,237)(3.5)%Income (loss) before taxes (1)$105,198 $88,061 $17,137 19.5 %Key Performance Metrics:Gross written premiums and premium equivalents$1,660,799 $1,439,476 $221,323 15.4 %Net written premiums$786,495 $684,048 $102,447 15.0 %Loss ratio47.3 %46.8 %Acquisition ratio27.8 %31.0 %Underwriting ratio75.1 %77.8 %Operating expense ratio14.1 %12.2 %Combined ratio89.2 %90.0 %Return on average equity23.5 %25.8 %Non-GAAP Financial Measures (2):Adjusted net income (before NCI)$85,648 $74,449 $11,199 15.0 %Adjusted return on average equity25.3 %29.7 %Adjusted net income$67,728 $59,016