Tiptree Inc. (NASDAQ:TIPT) (“Tiptree” or the “Company”), today
announced its financial results for the three and nine months ended
September 30, 2024.
Three Months Ended September
30,
Nine Months Ended September
30,
($ in thousands, except per share
information)
2024
2023
2024
2023
Total revenues
$
494,362
$
416,514
$
1,539,256
$
1,202,657
Net income (loss) attributable to common
stockholders
$
11,915
$
2,153
$
33,816
$
7,080
Diluted earnings per share
$
0.29
$
0.04
$
0.83
$
0.18
Cash dividends paid per common share
$
0.06
$
0.05
$
0.18
$
0.15
Return on average equity
10.6
%
2.2
%
10.3
%
2.4
%
Non-GAAP:
(1)
Adjusted net income
$
27,872
$
17,874
$
72,827
$
48,063
Adjusted return on average equity
24.8
%
17.9
%
22.1
%
16.2
%
(1) See “—Non-GAAP Reconciliations” for a
discussion of non-GAAP financial measures. Adjusted net income is
presented after the impacts of non-controlling interests.
Third Quarter 2024 Summary
- Revenues of $494.4 million for the quarter, an increase of
18.7% from Q3'23, driven by growth in Fortegra’s specialty
insurance lines. Excluding investment gains and losses, revenues
increased 17.2%.
- Net income of $11.9 million compared to a net income of $2.2
million in Q3'23, driven by growth in our insurance business.
- Adjusted net income of $27.9 million increased by 55.9% from
$17.9 million in Q3'23, driven by growth in insurance revenues
while maintaining a consistent combined ratio. Annualized adjusted
return on average equity was 24.8% for the quarter, as compared to
17.9% in Q3'23.
- Declared a dividend of $0.06 per share to stockholders of
record on November 18, 2024 with a payment date of November 25,
2024.
Year-to-date 2024 Summary
- Year-to-date revenues of $1.54 billion, an increase of 28.0%
from 2023, driven by growth in specialty insurance lines, net
investment income, investment gains, and mortgage revenues.
Excluding investment gains and losses, revenues increased
25.8%.
- Net income of $33.8 million compared to net income of $7.1
million in 2023, driven by growth in our insurance business and
improved mortgage operations.
- Adjusted net income of $72.8 million increased by 51.5% from
$48.1 million in 2023. Adjusted return on average equity was 22.1%
for the year, as compared to 16.2% in 2023.
- In March and April 2024, Tiptree, Warburg and Fortegra
directors contributed $30.0 million, $9.9 million, and $0.1
million, respectively, to Fortegra in exchange for Fortegra Common
Stock. As of September 30, 2024, Fortegra was owned approximately
79.3% by Tiptree, 17.7% by Warburg and 3.0% by management and
directors of Fortegra, before giving effect to the exercise of
outstanding warrants and management options and the conversion of
outstanding preferred stock.
Segment Financial Highlights - Third Quarter 2024
Insurance (The Fortegra Group):
Three Months Ended September
30,
Nine Months Ended September
30,
($ in thousands)
2024
2023
2024
2023
Gross written premiums and premium
equivalents
$
776,847
$
686,509
$
2,216,323
$
2,023,730
Net written premiums
$
389,273
$
333,921
$
1,073,321
$
935,639
Total revenues
$
481,013
$
406,779
$
1,489,711
$
1,159,900
Income before taxes
$
47,209
$
35,722
$
135,270
$
85,584
Return on average equity
24.3
%
27.5
%
25.1
%
22.9
%
Combined ratio
90.2
%
90.2
%
90.2
%
90.5
%
Non-GAAP:
(1)
Adjusted net income (before NCI)
$
40,042
$
30,043
$
114,491
$
83,101
Adjusted return on average equity
27.7
%
31.2
%
28.8
%
30.3
%
(1) See “—Non-GAAP Reconciliations” for a
discussion of non-GAAP financial measures. Adjusted net income is
presented before the impacts of non-controlling interests.
- Gross written premiums and premium equivalents of $776.8
million for the quarter, an increase of 13.2%, and $2.22 billion
for the year, an increase of 9.5%, driven by growth in specialty
E&S insurance lines.
- Net written premiums were $389.3 million for the quarter, an
increase of 16.6%, and $1.07 billion for the year, an increase of
14.7%. The increases in both periods were consistent with the
growth in gross written premiums and premium equivalents and
increased retention on Fortegra’s whole account quota share
reinsurance agreement.
- Revenues increased 18.2% for the quarter and 28.4% for the year
driven by premium growth in specialty E&S and admitted lines.
Excluding the impact of investment gains and losses, revenues
increased by 17.2% for the quarter and 26.6% for the year.
- The combined ratio for the quarter was 90.2%, flat to Q3’23,
reflecting the consistent underwriting performance and scalability
of the Company’s operations. Year-to-date combined ratio was 90.2%,
as compared to 90.5% in 2023.
- Income before taxes was $47.2 million for the quarter, an
increase of 32.2%. Year-to-date income before taxes was $135.3
million, an increase of 58.1%. Annualized after-tax return on
average equity for the year was 25.1%, compared to 22.9% in
2023.
- Adjusted net income for the quarter of $40.0 million, up 33.3%
from Q3'23. Year-to-date adjusted net income of $114.5 million, up
37.8%. Annualized adjusted return on average equity for the year
was 28.8%, compared to 30.3% in 2023.
- Fortegra’s total stockholders’ equity was $606.4 million as of
September 30, 2024, compared to $452.6 million as of December 31,
2023, with the increase driven by net income and the aggregate
capital contribution from Tiptree, Warburg and Fortegra directors
of $40 million, and a decrease in the accumulated other
comprehensive loss position.
Tiptree Capital:
Three Months Ended September
30,
Nine Months Ended September
30,
($ in thousands)
2024
2023
2024
2023
Total revenues
$
13,349
$
9,735
$
49,545
$
42,757
Income before taxes
$
(2,692
)
$
(6,135
)
$
1,794
$
(4,491
)
Return on average equity
(9.0
)%
(10.4
)%
0.8
%
(3.2
)%
Non-GAAP:
(1)
Adjusted net income
$
1,401
$
(322
)
$
2,101
$
248
Adjusted return on average equity
4.9
%
(0.7
)%
1.9
%
0.2
%
(1) See “—Non-GAAP Reconciliations” for a
discussion of non-GAAP financial measures. Adjusted net income is
presented before the impacts of non-controlling interests.
- Tiptree Capital loss before taxes was $2.7 million for the
quarter, compared to a loss of $6.1 million in Q3'23, driven by
unrealized investment losses. For the year, income before taxes was
$1.8 million, compared to a loss of $4.5 million in 2023, with the
comparative improvement driven by gains on securities in the
Company’s investment holdings and a reduction of investment losses
on Invesque.
- Mortgage loss before taxes was $0.1 million for the quarter, as
compared to an income of $0.4 million in Q3'23, and an income of
$1.2 million for the year, as compared to a loss of $0.9 million in
2023, driven by higher origination volumes and loan servicing fees,
partially offset by unrealized losses on our mortgage servicing
asset.
Corporate:
Corporate includes expenses of the holding company for employee
compensation and benefits, audit and professional fees, and public
company and other expenses. For the quarter, corporate expenses
were $7.7 million compared to $8.4 million in Q3'23 driven by
decreased professional fees, lease and insurance expense.
Non-GAAP
Management uses Adjusted net income and Adjusted return on
average equity as measurements of operating performance. Management
believes these measures provide supplemental information useful to
investors as they are frequently used by the financial community to
analyze financial performance and comparison among companies.
Management uses Adjusted net income and adjusted return on average
equity as part of its capital allocation process and to assess
comparative returns on invested capital. Adjusted net income
represents income before taxes, less provision (benefit) for income
taxes, and excluding the after-tax impact of various expenses that
we consider to be unique and non-recurring in nature, stock-based
compensation, net realized and unrealized gains (losses), and
intangibles amortization associated with purchase accounting, all
of which is reduced for non-controlling interests. Adjusted net
income and Adjusted return on average equity are presented before
the impacts of non-controlling interests. Adjusted net income and
Adjusted return on average equity are not measurements of financial
performance or liquidity under GAAP and should not be considered as
an alternative or substitute for GAAP net income. See “Non-GAAP
Reconciliations” for a reconciliation of these measures to their
GAAP equivalents.
Earnings Conference Call
Tiptree will host a conference call on Thursday, October 31,
2024 at 10:30 a.m. Eastern Time to discuss its Q3 2024 financial
results. A copy of our investor presentation, to be used during the
conference call, as well as this press release, will be available
in the Investor Relations section of the Company’s website, located
at www.tiptreeinc.com.
The conference call will be available via live or archived
webcast at http://www.investors.tiptreeinc.com. To listen to a live
broadcast, go to the site at least 15 minutes prior to the
scheduled start time in order to register, download and install any
necessary audio software. To participate in the telephone
conference call, please dial 1-877-407-4018 (domestic) or
1-201-689-8471 (international). Please dial in at least five
minutes prior to the start time.
A replay of the call will be available from Thursday, October
31, 2024 at 1:30 p.m. Eastern Time, until midnight Eastern on
Thursday, November 7, 2024. To listen to the replay, please dial
1-844-512-2921 (domestic) or 1-412-317-6671 (international),
Passcode: 13748819.
About Tiptree
Tiptree Inc. (NASDAQ: TIPT) allocates capital to select small
and middle market companies with the mission of building long-term
value. Established in 2007, Tiptree has a significant track record
investing across a variety of industries and asset types, including
the insurance, asset management, specialty finance, real estate and
shipping sectors. With proprietary access and a flexible capital
base, Tiptree seeks to uncover compelling investment opportunities
and support management teams in unlocking the full value potential
of their businesses. For more information, please visit
tiptreeinc.com and follow us on LinkedIn.
Forward-Looking
Statements
This release contains “forward-looking statements” which involve
risks, uncertainties and contingencies, many of which are beyond
the Company’s control, which may cause actual results, performance,
or achievements to differ materially from anticipated results,
performance, or achievements. All statements contained in this
release that are not clearly historical in nature are
forward-looking, and the words “anticipate,” “believe,” “estimate,”
“expect,” “intend,” “may,” “might,” “plan,” “project,” “should,”
“target,” “will,” or similar expressions are intended to identify
forward-looking statements. Such forward-looking statements
include, but are not limited to, statements about the Company’s
plans, objectives, expectations for our businesses and intentions.
In addition, we make certain forward-looking statements regarding
the Company’s plans to take Fortegra public. Any initial public
offering by Fortegra would be subject to a variety of factors,
including market conditions, and may not be consummated. The
forward-looking statements are not guarantees of future performance
and are subject to risks, uncertainties and other factors, many of
which are beyond our control, are difficult to predict and could
cause actual results to differ materially from those expressed or
forecast in the forward-looking statements. Our actual results
could differ materially from those anticipated in these
forward-looking statements as a result of various factors,
including, but not limited to those described in the section
entitled “Risk Factors” in the Company’s Annual Report on Form
10-K, and as described in the Company’s other filings with the
Securities and Exchange Commission. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as to the date of this release. The factors described
therein are not necessarily all of the important factors that could
cause actual results or developments to differ materially from
those expressed in any of our forward-looking statements. Other
unknown or unpredictable factors also could affect our
forward-looking statements. Consequently, our actual performance
could be materially different from the results described or
anticipated by our forward-looking statements. Given these
uncertainties, you should not place undue reliance on these
forward-looking statements. Except as required by the federal
securities laws, we undertake no obligation to update any
forward-looking statements.
Tiptree Inc. Condensed Consolidated Balance Sheets
($ in thousands, except share data)
As of
September 30,
2024
December 31, 2023
Assets:
Investments:
Available for sale securities, at fair
value, net of allowance for credit losses
$
1,010,067
$
802,609
Loans, at fair value
81,816
69,556
Equity securities
95,330
68,308
Other investments
59,250
111,088
Total investments
1,246,463
1,051,561
Cash and cash equivalents
396,187
468,711
Restricted cash
108,183
23,850
Notes and accounts receivable, net
789,624
684,608
Reinsurance recoverable
932,656
953,886
Prepaid reinsurance premiums
978,149
900,524
Deferred acquisition costs
570,923
565,746
Goodwill
208,565
206,155
Intangible assets, net
108,482
118,757
Other assets
166,501
165,515
Total assets
$
5,505,733
$
5,139,313
Liabilities and Stockholders’
Equity
Liabilities:
Debt, net
$
388,523
$
402,411
Unearned premiums
1,709,966
1,695,058
Policy liabilities and unpaid claims
1,192,857
844,848
Deferred revenue
692,389
673,085
Reinsurance payable
458,610
543,602
Other liabilities and accrued expenses
407,188
403,744
Total liabilities
$
4,849,533
$
4,562,748
Stockholders’ Equity:
Preferred stock: $0.001 par value,
100,000,000 shares authorized, none issued or outstanding
$
—
$
—
Common stock: $0.001 par value,
200,000,000 shares authorized, 36,789,571 and 36,756,187 shares
issued and outstanding, respectively
37
37
Additional paid-in capital
389,275
382,239
Accumulated other comprehensive income
(loss), net of tax
(15,171
)
(26,073
)
Retained earnings
87,805
60,663
Total Tiptree Inc. stockholders’
equity
461,946
416,866
Non-controlling interests:
Fortegra preferred interests
77,679
77,679
Common interests
116,575
82,020
Total non-controlling interests
194,254
159,699
Total stockholders’ equity
656,200
576,565
Total liabilities and stockholders’
equity
$
5,505,733
$
5,139,313
Tiptree Inc. Condensed Consolidated Statements of
Operations ($ in thousands, except share data)
Three Months Ended
September 30,
Nine Months Ended
September 30,
2024
2023
2024
2023
Revenues:
Earned premiums, net
$
359,496
$
291,293
$
1,105,273
$
826,418
Service and administrative fees
95,362
100,146
311,696
290,291
Ceding commissions
3,716
2,440
11,525
10,761
Net investment income
9,111
5,416
22,250
19,613
Net realized and unrealized gains
(losses)
8,316
1,457
36,518
12,459
Other revenue
18,361
15,762
51,994
43,115
Total revenues
494,362
416,514
1,539,256
1,202,657
Expenses:
Policy and contract benefits
203,442
153,966
645,081
443,375
Commission expense
154,005
153,744
484,232
442,893
Employee compensation and benefits
52,335
45,663
151,438
130,844
Interest expense
7,614
6,716
23,919
20,225
Depreciation and amortization
5,395
6,347
16,254
17,475
Other expenses
34,790
28,937
111,206
94,857
Total expenses
457,581
395,373
1,432,130
1,149,669
Income (loss) before taxes
36,781
21,141
107,126
52,988
Less: provision (benefit) for income
taxes
16,308
12,273
48,799
29,119
Net income (loss)
20,473
8,868
58,327
23,869
Less: net income (loss) attributable to
non-controlling interests
8,558
6,715
24,511
16,789
Net income (loss) attributable to
common stockholders
$
11,915
$
2,153
$
33,816
$
7,080
Net income (loss) per common
share:
Basic earnings per share
$
0.32
$
0.06
$
0.91
$
0.19
Diluted earnings per share
$
0.29
$
0.04
$
0.83
$
0.18
Weighted average number of common
shares:
Basic
36,789,571
36,749,199
36,781,408
36,672,120
Diluted
37,818,491
37,684,131
37,784,637
37,569,405
Dividends declared per common share
$
0.06
$
0.05
$
0.18
$
0.15
Tiptree Inc. Non-GAAP Reconciliations
(Unaudited)
Non-GAAP Financial Measures — Adjusted
net income and Adjusted return on average equity
Adjusted net income is defined as income before taxes, less
provision (benefit) for income taxes, and excluding the after-tax
impact of various expenses that we consider to be unique and
non-recurring in nature, including merger and acquisition related
expenses, stock-based compensation, net realized and unrealized
gains (losses) and intangibles amortization associated with
purchase accounting, all of which is reduced for non-controlling
interests. The calculation of adjusted net income excludes net
realized and unrealized gains (losses) that relate to investments
or assets rather than business operations. Adjusted net income is
presented before the impacts of non-controlling interests. Adjusted
return on average equity represents adjusted net income expressed
on an annualized basis as a percentage of average beginning and
ending stockholders’ equity during the period. Management uses
Adjusted net income and adjusted return on average equity as part
of its capital allocation process and to assess comparative returns
on invested capital. We believe adjusted net income provides
additional clarity on the results of the Company’s underlying
business operations as a whole for the periods presented by
excluding distortions created by the unpredictability and
volatility of realized and unrealized gains (losses). We also
believe adjusted net income provides useful supplemental
information to investors as it is frequently used by the financial
community to analyze financial performance between periods and for
comparison among companies.
Three Months Ended September
30, 2024
Tiptree Capital
($ in thousands)
Insurance
Mortgage
Other
Corporate
Total
Income (loss) before taxes
$
47,209
$
(89
)
$
(2,603
)
$
(7,736
)
$
36,781
Less: Income tax (benefit) expense
(12,114
)
32
104
(4,330
)
(16,308
)
Less: Net realized and unrealized gains
(losses) (1)
(2,218
)
1,877
2,764
—
2,423
Plus: Intangibles amortization (2)
3,859
—
—
—
3,859
Plus: Stock-based compensation expense
4,195
—
—
1,762
5,957
Plus: Non-recurring expenses (3)
119
—
—
—
119
Plus: Non-cash fair value adjustments
(4)
946
—
—
—
946
Plus: Impact of tax deconsolidation of
Fortegra(5)
—
—
—
5,907
5,907
Less: Tax on adjustments (6)
(1,954
)
(461
)
(223
)
(860
)
(3,498
)
Adjusted net income (before NCI)
$
40,042
$
1,359
$
42
$
(5,257
)
$
36,186
Less: Impact of non-controlling
interests
(8,314
)
—
—
—
(8,314
)
Adjusted net income
$
31,728
$
1,359
$
42
$
(5,257
)
$
27,872
Adjusted net income (before NCI)
$
40,042
$
1,359
$
42
$
(5,257
)
$
36,186
Average stockholders’ equity
$
577,776
$
53,272
$
59,943
$
(53,856
)
$
637,135
Adjusted return on average equity (7)
27.7
%
10.2
%
0.3
%
NM%
22.7
%
Three Months Ended September
30, 2023
Tiptree Capital
($ in thousands)
Insurance
Mortgage
Other
Corporate
Total
Income (loss) before taxes
$
35,722
$
359
$
(6,494
)
$
(8,446
)
$
21,141
Less: Income tax (benefit) expense
(9,261
)
(76
)
1,179
(4,115
)
(12,273
)
Less: Net realized and unrealized gains
(losses) (1)
1,616
(788
)
6,625
—
7,453
Plus: Intangibles amortization (2)
4,878
—
—
—
4,878
Plus: Stock-based compensation expense
717
—
—
1,246
1,963
Plus: Non-recurring expenses (3)
113
—
—
—
113
Plus: Non-cash fair value adjustments
(4)
(2,447
)
—
—
—
(2,447
)
Plus: Impact of tax deconsolidation of
Fortegra (5)
—
—
—
4,396
4,396
Less: Tax on adjustments (6)
(1,295
)
178
(1,305
)
1,231
(1,191
)
Adjusted net income (before NCI)
$
30,043
$
(327
)
$
5
$
(5,688
)
$
24,033
Less: Impact of non-controlling
interests
(6,159
)
—
—
—
(6,159
)
Adjusted net income
$
23,884
$
(327
)
$
5
$
(5,688
)
$
17,874
Adjusted net income (before NCI)
$
30,043
$
(327
)
$
5
$
(5,688
)
$
24,033
Average stockholders’ equity
$
385,266
$
53,939
$
139,786
$
(34,169
)
$
544,822
Adjusted return on average equity (7)
31.2
%
(2.4
)%
—
%
NM%
17.6
%
Nine Months Ended September
30, 2024
Tiptree Capital
($ in thousands)
Insurance
Mortgage
Other
Corporate
Total
Income (loss) before taxes
$
135,270
$
1,192
$
602
$
(29,938
)
$
107,126
Less: Income tax (benefit) expense
(35,604
)
(244
)
(704
)
(12,247
)
(48,799
)
Less: Net realized and unrealized gains
(losses) (1)
(7,582
)
428
726
—
(6,428
)
Plus: Intangibles amortization (2)
11,557
—
—
—
11,557
Plus: Stock-based compensation expense
5,999
—
—
7,190
13,189
Plus: Non-recurring expenses (3)
3,455
—
—
—
3,455
Plus: Non-cash fair value adjustments
(4)
6,018
—
—
—
6,018
Plus: Impact of tax deconsolidation of
Fortegra (5)
—
—
—
16,729
16,729
Less: Tax on adjustments (6)
(4,622
)
(145
)
246
(1,752
)
(6,273
)
Adjusted net income (before NCI)
$
114,491
$
1,231
$
870
$
(20,018
)
$
96,574
Less: Impact of non-controlling
interests
(23,747
)
—
—
—
(23,747
)
Adjusted net income
$
90,744
$
1,231
$
870
$
(20,018
)
$
72,827
Adjusted net income (before NCI)
$
114,491
$
1,231
$
870
$
(20,018
)
$
96,574
Average stockholders’ equity
$
529,486
$
52,771
$
91,263
$
(57,137
)
$
616,383
Adjusted return on average equity (7)
28.8
%
3.1
%
1.3
%
NM%
20.9
%
Nine Months Ended September
30, 2023
Tiptree Capital
($ in thousands)
Insurance
Mortgage
Other
Corporate
Total
Income (loss) before taxes
$
85,584
$
(894
)
$
(3,597
)
$
(28,105
)
$
52,988
Less: Income tax (benefit) expense
(22,936
)
231
419
(6,833
)
(29,119
)
Less: Net realized and unrealized gains
(losses) (1)
10,602
(933
)
5,885
—
15,554
Plus: Intangibles amortization (2)
12,667
—
—
—
12,667
Plus: Stock-based compensation expense
1,238
—
—
5,032
6,270
Plus: Non-recurring expenses (3)
2,476
—
—
—
2,476
Plus: Non-cash fair value adjustments
(4)
(2,611
)
—
—
—
(2,611
)
Plus: Impact of tax deconsolidation of
Fortegra (5)
—
—
—
10,210
10,210
Less: Tax on adjustments (6)
(3,919
)
207
(1,070
)
1,468
(3,314
)
Adjusted net income (before NCI)
$
83,101
$
(1,389
)
$
1,637
$
(18,228
)
$
65,121
Less: Impact of non-controlling
interests
(17,058
)
—
—
—
(17,058
)
Adjusted net income
$
66,043
$
(1,389
)
$
1,637
$
(18,228
)
$
48,063
Adjusted net income (before NCI)
$
83,101
$
(1,389
)
$
1,637
$
(18,228
)
$
65,121
Average stockholders’ equity
$
365,375
$
54,411
$
103,332
$
15,456
$
538,574
Adjusted return on average equity (7)
30.3
%
(3.4
)%
2.1
%
NM%
16.1
%
Notes
(1)
Net realized and unrealized gains
(losses) added back in Adjusted net income excludes net realized
and unrealized gains (losses) from the mortgage segment and
unrealized gains (losses) on mortgage servicing rights.
(2)
Specifically associated with
acquisition purchase accounting. See Note (8) Goodwill and
Intangible Assets, net, of the Company’s Form 10-Q for the period
ended September 30, 2024.
(3)
For the three and nine months
ended September 30, 2024 and 2023, included in other expenses were
expenses related to legal and other expenses associated with
preparation of the registration statement for the withdrawn
Fortegra initial public offering in 2024 and acquisitions of
services businesses in 2023.
(4)
For the three and nine months
ended September 30, 2024 and 2023, non-cash fair-value adjustments
represent a change in fair value of the Fortegra Additional Warrant
liability which are added-back to adjusted net income.
(5)
For the three and nine months
ended September 30, 2024 and 2023, included in the adjustment is an
add-back of $5.9 million and $16.7 million, respectively, and $4.4
million and $10.2 million, respectively, related to deferred tax
expense from the WP Transaction.
(6)
Tax on adjustments represents the
tax applied to the total non-GAAP adjustments and includes
adjustments for non-recurring or discrete tax impacts.
(7)
Total Adjusted return on average
equity after non-controlling interests was 24.8% and 17.9% for the
three months ended September 30, 2024 and 2023, respectively, based
on $27.9 million and $17.9 million of Adjusted net income over
$449.2 million and $399.0 million of average Tiptree Inc.
stockholders’ equity. Total Adjusted return on average equity after
non-controlling interests was 22.1% and 16.2% for the nine months
ended September 30, 2024 and 2023, respectively, based on $72.8
million and $48.1 million of Adjusted net income over $439.4
million and $396.7 million of average Tiptree Inc. stockholders’
equity.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241030447925/en/
Tiptree Inc. Investor Relations, 212-446-1400
ir@tiptreeinc.com
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