Company: TIPT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001393726-25-000076
Chunk: 17

Company: TIPTREE INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 2
Chunk 17
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,692 Auto and consumer goods warranty54,53183,327Other services11,37211,040Services$65,903 $94,367 Total $907,624 $776,059 

(1) The total gross written premiums and premium equivalents of $907.6 million and $776.1 million for the three months ended June 30, 2025 and 2024, respectively, were comprised of gross written premiums of $689.5 million and $573.8 million, plus assumed premiums of $152.3 million and $107.9 million, plus gross service and administrative fee additions of $65.9 million and $94.4 million, respectively. See Note (6) Reinsurance Recoverable and Prepaid Reinsurance Premiums and Note (12) Revenue from Contracts with Customers within the respective periods for more information.

Total gross written premiums and premium equivalents for the three months ended June 30, 2025 were $907.6 million, representing an increase of $131.6 million, or 17.0% as compared to the prior year period. The increase was driven by a combination of factors including expanding Fortegra’s distribution partner network and growing E&S insurance lines. E&S premiums were $396.0 million for the three months ended June 30, 2025 compared to $329.5 million in the prior year period, a 20.2% increase.

For the three months ended June 30, 2025, Insurance increased by $160.0 million, or 23.5% as compared to the prior year period, driven by growth in property and short tail, general liability, contractual liability and European lines, partially offset by decline in professional liability and personal lines. For the three months ended June 30, 2025, Services decreased by $28.5 million, or 30.2%, driven by lower volume in consumer goods and vehicle service contracts. 

The growth in gross written premiums and premium equivalents, combined with higher retention in select products as of June 30, 2025, has resulted in an increase of $172.4 million, or 7.3%, in unearned premiums and deferred revenue on the condensed consolidated balance sheets as compared to June 30, 2024. As of June 30, 2025, unearned premiums and deferred revenues were $2.5 billion, as compared to $2.4 billion as of June 30, 2024.

Net written