Company: TIPT
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001393726-25-000055
Chunk: 95

Company: TIPTREE INC.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part II, Item 8
Chunk 95
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156,801 

F-13

TIPTREE INC. AND SUBSIDIARIESNotes to Condensed Consolidated Financial StatementsMarch 31, 2025(in thousands, except share data)

As of December 31, 2024Amortized costAllowance for credit losses(1)Grossunrealized gainsGrossunrealized lossesFair valueU.S. Treasury securities and obligations of U.S. government authorities and agencies$426,002 $— $611 $(30,970)$395,643 Obligations of state and political subdivisions41,593 (1)— (2,917)38,675 Corporate securities605,517 (3,157)3,177 (7,403)598,134 Asset backed securities25,455 (68)4 (2,531)22,860 Certificates of deposit1,145 — — — 1,145 Obligations of foreign governments51,857 (1)— (384)51,472 Total$1,151,569 $(3,227)$3,792 $(44,205)$1,107,929 (1) Represents the amount of impairment that has resulted from credit-related factors, and therefore was recognized in net realized and unrealized gains (losses) as a credit loss on AFS securities. Amount excludes unrealized losses relating to non-credit factors.The amortized cost and fair values of AFS securities, by contractual maturity date, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.As ofMarch 31, 2025December 31, 2024Amortized costFair valueAmortized costFair valueDue in one year or less $253,753 $252,810 $250,036 $249,392 Due after one year through five years476,528 472,110 438,322 430,597 Due after five years through ten years219,445 216,884 223,969 201,948 Due after ten years220,005 196,172 213,787 203,132 Asset backed securities20,272 18,825 25,455 22,860 Total$1,190,003 $1,156,801 $1,151,