Company: TIPT
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0001393726-25-000076
Chunk: 179

Company: TIPTREE INC.
Filing Date: 2025-07-30
Form: 10-Q
Item: Part II, Item 8
Chunk 179
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908)$(15)$— $(924)Balance at December 31, 2024$(1)$(3,157)$(68)$(1)$(3,227)(Increase) in allowance for credit losses— (73)(1)— (74)Additions for AFS securities purchased with credit deterioration during the year— (12)— (1)(13)Reduction in credit losses due to AFS securities sold during the year— 428 51 1 480 Gains from recoveries of amounts previously written off— 2,106 7 — 2,113 Balance at June 30, 2025$(1)$(708)$(11)$(1)$(721)The Company applies a discounted cash flow model, based on assumptions and model outputs provided by an investment management company, in determining its lifetime expected credit losses on AFS securities. This includes determining the present value of expected future cash flows discounted at the book yield of the security.The table below presents the amount of gains from recoveries (credit losses, including Current Expected Credit Losses (CECL)) on AFS securities recorded by the Company for the following period:Three Months Ended June 30, Six Months EndedJune 30, 2025202420252024Net gains from recoveries (credit losses) on AFS securities$1,776 $(720)$2,503 $(842)Pursuant to certain statutory licensing requirements, the Company has deposited $17,296 of invested assets in insurance department safekeeping accounts as of June 30, 2025. The Company also has deposited invested assets in custody accounts pursuant to certain reinsurance agreements. The Company cannot remove or replace investments in such safekeeping and custody accounts without prior approval of the regulatory authority or contractual party, as applicable. The following table presents the Company’s restricted investments included in the Company’s AFS securities:As ofJune 30,2025December 31, 2024Fair value of restricted investments$44,133 $45,483 The following table presents additional information on the Company’s AFS securities for the following periods:Three Months Ended June 30, Six Months EndedJune 30, 2025202420252024Purchases of AFS securities$133,805 $120,839 $287,504 $288,772 Proceeds from maturities, calls and prepayments of AFS securities$53,267 $71,652 $