Company: TIPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001393726-25-000028
Chunk: 43

Company: TIPTREE INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1
Chunk 43
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 ability to opportunistically take advantage of market dynamics throughout its history, and remains well positioned to benefit from an increasingly complex world, leading to secular growth in the specialty P&C market.Fortegra underwrites specialty programs which are distributed primarily through MGAs, retail agents and other distributors, collectively referred to as distribution partners. We believe this agent-centric specialty focus provides Fortegra with a competitive advantage and enables them to provide distribution partners with value-added services to improve their underwriting and operating performance, driving high agent retention. We believe this “one-to-many” distribution model is more efficient for the types of specialty risks Fortegra underwrites and allows the business to leverage its agents’ specialization in a particular market as well as their extensive retail network. To align economic interests, distribution partners receive variable forms of commission based on underwriting performance which supports the consistency and stability of Fortegra’s underwriting results. We believe this agent-centric distribution model is positioned for success given the continued growth of MGAs as a distribution channel and the differentiated approach Fortegra takes in this market.Our Insurance Products and ServicesBusiness and Product Mix by Gross Written Premiums and Premium Equivalents($ in thousands)For the Year Ended December 31,202420232022Property and short-tail$845,721 $548,984 $263,933 Contractual liability347,510396,861351,869General liability389,162353,011305,325Alternative risks362,153330,171363,362Professional liability276,390232,94482,340Europe163,292141,208125,150Commercial lines$2,384,228 $2,003,179 $1,491,979 Personal lines$335,236 $382,397 $397,423 Insurance$2,719,464 $2,385,576 $1,889,402 Auto and consumer goods warranty303,195302,746318,550Other services45,54059,53255,176Services$348,735 $362,278 $373,726 Total$3,068,199 $2,747,854 $2,263,128 Insurance: Includes lines of business that pertain to coverages written or reinsured, on an admitted or E&S basis, through one of Fortegra’s licensed and regulated insurance entities. Insurance lines of business are further presented as those providing benefits to commercial entities, and those which provide personal coverage benefits to end-consumers. Additionally