Company: TIPT
Filing Date: 2025-04-30
Form Type: 10-Q
Source: 0001393726-25-000055
Chunk: 67

Company: TIPTREE INC.
Filing Date: 2025-04-30
Form: 10-Q
Item: Part I, Item 8
Chunk 67
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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 lines33,49638,989Insurance$357,689 $318,151 

Net written premiums for the three months ended March 31, 2025 were $357.7 million, representing an increase of $39.5 million, or 12.4%, consistent with growth in gross written premiums. For the three months ended March 31, 2025, commercial lines increased by $45.0 million, or 16.1%, driven by growth in E&S and specialty admitted business. For the three months ended March 31, 2025, personal lines decreased by $5.5 million, or 14.1%, driven by declines in personal credit and auto insurance lines. Property and short-tail lines represented $129.5 million, or 36.2%, of the total net written premiums for the three months ended March 31, 2025 compared to $108.4 million, or 34.1%, for the prior year period. Property and short-tail net written