Company: TIPT
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001393726-25-000055
Chunk: 204

Company: TIPTREE INC.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 2
Chunk 204
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 20252024Property and short-tail$219,811 $149,193 Contractual liability76,29483,209General liability98,88472,470Alternative risks85,18076,668Professional liability63,98768,168Europe46,97641,708Commercial lines$591,132 $491,416 Personal lines75,47978,435Insurance$666,611 $569,851 Auto and consumer goods warranty74,84681,968Other services11,71811,598Services$86,564 $93,566 Total$753,175 $663,417 

(1) The total gross written premiums and premium equivalents of $753.2 million and $663.4 million for the three months ended March 31, 2025 and 2024, respectively, were comprised of gross written premiums of $538.7 million and $457.1 million, plus assumed premiums of $127.9 million and $112.7 million, plus gross service and administrative fee additions of $86.6 million and $93.6 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 March 31, 2025 were $753.2 million, representing an increase of $89.8 million, or 13.5%. The increase was driven by a combination of factors including expanding Fortegra’s distribution partner network, and growing E&S insurance lines.

For the three months ended March 31, 2025, Insurance increased by $96.8 million, or 17.0%, driven by growth in specialty commercial lines, including E&S business, partially offset by decline in the personal lines. For the three months ended March 31, 2025, Services decreased by $7.0 million, or 7.5%, driven by lower volume in consumer goods and vehicle service contracts.

Net written premiums

($ in thousands)Three Months Ended March 31, 20252024Property and short-tail$129,517 $108,436 Contractual liability20,57221,765General liability46,05628,460Alternative risks61,97256,488Professional liability24,71422,305Europe41,36241,708Commercial lines$324,193 $279,162 Personal lines33,