Company: TIPT
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001393726-25-000028
Chunk: 164

Company: TIPTREE INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 8
Chunk 164
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,929 

F-26

TIPTREE INC. AND SUBSIDIARIESNotes to Consolidated Financial StatementsDecember 31, 2024(in thousands, except share data)

As of December 31, 2023Amortized costAllowance for credit losses(1)Grossunrealized gainsGrossunrealized lossesFair valueU.S. Treasury securities and obligations of U.S. government authorities and agencies$496,731 $— $515 $(27,161)$470,085 Obligations of state and political subdivisions48,762 (1)51 (3,353)45,459 Corporate securities260,961 (73)2,445 (8,735)254,598 Asset backed securities29,275 (10)3 (3,082)26,186 Certificates of deposit1,724 — — — 1,724 Obligations of foreign governments4,705 — — (148)4,557 Total$842,158 $(84)$3,014 $(42,479)$802,609 (1) Represents the amount of impairment that has resulted from credit-related factors, and therefore was recognized in net realized and unrealized gains (losses) as a credit loss on AFS securities. Amount excludes unrealized losses relating to non-credit factors.The amortized cost and fair values of AFS securities, by contractual maturity date, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.As ofDecember 31, 2024December 31, 2023Amortized costFair valueAmortized costFair valueDue in one year or less $250,036 $249,392 $247,613 $246,489 Due after one year through five years438,322 430,597 318,763 307,423 Due after five years through ten years223,969 201,948 46,377 39,221 Due after ten years213,787 203,132 200,130 183,290 Asset backed securities25,455 22,860 29,275 26,186 Total$1,151,569 $1,107,929 $842,158 $802,609 The following tables present the