Company: TIPT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001393726-25-000076
Chunk: 153

Company: TIPTREE INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 153
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2025, the deferred tax liability relating to Fortegra was $102.0 million, which was an increase of $17.3 million from the year ended December 31, 2024, of which $4.6 million of expense was recorded in OCI, and $12.7 million expense was recorded as a provision for income taxes. As of June 30, 2024, the deferred tax liability relating to Fortegra was $71.6 million, which was an increase of $9.9 million from the year ended December 31, 2023, of which $0.9 million benefit was recorded in OCI, and $10.8 million expense was recorded as a provision for income taxes. Excluding the impact of these deferred taxes, the effective tax rates for the six months ended June 30, 2025 and 2024 were 27.3% and 30.8%, respectively.

Balance Sheet Information

Tiptree’s total assets were $6.1 billion as of June 30, 2025, compared to $5.7 billion as of December 31, 2024. The $453.1 million increase in assets is primarily attributable to the growth in the Insurance segment. 

Total stockholders’ equity was $723.4 million as of June 30, 2025, compared to $656.8 million as of December 31, 2024, with the increase primarily driven by comprehensive income for the six months ended June 30, 2025. As of June 30, 2025, there were 37,496,977 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.

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 June 30, 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 June 30, 2025