Company: TIPT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001393726-25-000076
Chunk: 136

Company: TIPTREE INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 136
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, 2025 were $428.8 million, representing an increase of $62.9 million, or 17.2% as compared to the prior year period, consistent with growth in gross written premiums. For the three months ended June 30, 2025, net written premiums from commercial lines increased by $69.2 million, or 21.2%, driven by growth in E&S and specialty admitted business. For the three months ended June 30, 2025, net written premiums from personal lines decreased by $6.3 million, or 16.1%, driven by declines in personal credit and auto insurance lines. Net written premiums from property and short-tail lines represented $166.5 million, or 38.8%, of the total net written premiums for the three months ended June 30, 2025 compared to $108.3 million, or 29.6%, for the prior year period. Property and short-tail net written premiums were diversified by geographic location, exposure and risk type with substantial reinsurance protection. As of June 30, 2025, the net loss to the Company in a 1-in-250 year catastrophe event represented approximately 4.1% of Fortegra’s stockholders’ equity. This reported loss includes the impact of incurred losses based on the estimated frequency and severity of potential events, reinstatements premiums, reinsurance recoveries and taxes.

Combined Ratio

The combined ratio was 88.5% and 89.9% for the three months ended June 30, 2025 and 2024, respectively, reflecting the consistent underwriting performance and scalability of the Company’s operating platform. The underwriting ratio was 74.3%, a decrease of 3.9 percentage points from the prior year period, which consists of a loss ratio of 48.2%, compared to 47.3% in the prior year period, and an acquisition ratio of 26.1%, compared to 30.9% in the prior year period. The increase in loss ratio was driven by changes in business mix towards commercial lines and increases in repair and labor costs on vehicle service contracts compared to prior year period, which was more than offset by the decline in acquisition ratio as a result of changes in business mix and swing rate commission structures. Additionally, for the three months ended June 30, 2025 and 2024, net catastrophe losses included in the loss ratio were de minimis. The operating expense ratio increased 2.