Company: TIPT
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001393726-25-000055
Chunk: 104

Company: TIPTREE INC.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part II, Item 8
Chunk 104
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20

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

Three Months Ended March 31, 2024Losses and LAE IncurredLife insurance$12,201 $6,717 $(32)$5,452 (0.6)%Accident and health insurance5,529 4,058 871 2,342 37.2 %Property and liability insurance181,685 104,395 90,296 167,586 53.9 %Total losses and LAE incurred$199,415 $115,170 $91,135 $175,380 52.0 %Member benefit claims (1)32,284 Total policy and contract benefits$207,664 (1)            Member benefit claims are not covered by reinsurance.The following table presents the components of the reinsurance recoverable:As ofMarch 31,2025December 31, 2024Ceded claim reserves:Life insurance$4,300 $4,621 Accident and health insurance24,951 24,836 Property and liability insurance683,557 607,250 Total ceded claim reserves recoverable712,808 636,707 Other reinsurance settlements recoverable408,202 356,176 Total reinsurance recoverable$1,121,010 $992,883 The following table presents the components of prepaid reinsurance premiums:As ofMarch 31,2025December 31, 2024Prepaid reinsurance premiums:Life insurance (1)$70,121 $71,427 Accident and health insurance (1)70,331 72,840 Property and liability insurance828,560 901,986 Total prepaid reinsurance premiums$969,012 $1,046,253 (1)    Including policyholder account balances ceded. The following table presents the aggregate amount included in reinsurance receivables that is comprised of the three largest receivable balances from non-affiliated reinsurers:As ofMarch 31,2025Total of the three largest receivable balances from non-affiliated reinsurers$251,039 As of March 31, 2025, the non-affiliated reinsurers from whom our insurance business has the largest receivable balances were: Allianz Global Risks US Insurance Company (A.M. Best Rating