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Mar 31, 2022
Tiptree Q1 2022 Earnings Report
Tiptree's financial performance was reported for the first quarter of 2022.
Key Takeaways
Tiptree Inc. reported revenues of $324.9 million, a 10.3% increase from Q1 2021. However, the company experienced a net loss of $1.0 million compared to a net income of $28.6 million in the same period last year. Adjusted net income increased by 17.5% to $15.5 million.
Revenues increased by 10.3% to $324.9 million, driven by growth in Fortegra's specialty insurance lines and higher vessel charter rates.
Net loss was $1.0 million, compared to a net income of $28.6 million in Q1 2021, due to declines in mortgage volumes and margins and unrealized investment losses.
Adjusted net income rose by 17.5% to $15.5 million, driven by improvements in insurance and shipping operations.
Fortegra's gross written premiums increased by 25.9%, driven by growth in U.S. specialty insurance lines and service contract businesses.
Forward Guidance
The $200 million investment in Fortegra from Warburg Pincus remains on track to close in Q2 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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