Company: TIPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001393726-25-000028
Chunk: 12

Company: TIPTREE INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 7
Chunk 12
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,915 469 3.1 %Net investment income32,976 26,674 6,302 23.6 %Net realized and unrealized gains (losses)8,496 (4,207)12,703 NM%Other revenue39,730 31,885 7,845 24.6 %Total revenues$1,973,709 $1,593,070 $380,639 23.9 %Expenses:Net losses and loss adjustment expenses722,190 482,506 239,684 49.7 %Member benefit claims119,017 119,288 (271)(0.2)%Commission expense648,819 603,033 45,786 7.6 %Employee compensation and benefits137,743 114,341 23,402 20.5 %Interest expense30,247 25,836 4,411 17.1 %Depreciation and amortization19,860 21,425 (1,565)(7.3)%Other expenses112,675 96,825 15,850 16.4 %Total expenses$1,790,551 $1,463,254 $327,297 22.4 %Income (loss) before taxes (1)$183,158 $129,816 $53,342 41.1 %Key Performance Metrics:Gross written premiums and premium equivalents$3,068,199 $2,747,854 $320,345 11.7 %Net written premiums$1,438,952 $1,319,948 $119,004 9.0 %Loss ratio45.5 %40.1 %Acquisition ratio31.5 %36.2 %Underwriting ratio77.0 %76.3 %Operating expense ratio13.0 %14.0 %Combined ratio90.0 %90.3 %Return on average equity26.0 %25.7 %Non-GAAP Financial Measures (2):Adjusted net income (before NCI)$157,031 $115,705 $41,326 35.7 %Adjusted return on average equity29.1 %29.2 %Adjusted net income$124,393 $91,963 $32,430 35.3 %

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