Tiptree Financial reports Q4 EPS 15c vs. 2c last year

Reports Q4 revenue $446.37M vs. $369.53M last year. Total Tiptree Capital book value was $178.1M as of Q4. The company said, “We are extremely pleased with our performance in the fourth quarter and full-year 2023. Our operating businesses demonstrated strong performance, resulting in an increase of revenues to $1.6 billion for the year, accompanied by an adjusted return on equity of 15.2%. Notably, Fortegra, our specialty insurance business, achieved record results, with premium and premium equivalent growth of 21%, and an adjusted return on equity of 29%. We firmly believe Fortegra is strategically positioned to maintain a trajectory of consistent top-line growth and sustained underwriting profitability over the long-term. Looking ahead, we see significant opportunities to expand our businesses and remain confident in the long-term outlook for the company.”