Tiptree Inc Stock Price, News & Analysis

Fortegra, a global specialty insurer and subsidiary of Tiptree Inc. (NASDAQ: TIPT), has acquired a majority interest in Premia Solutions Limited, a leading provider of automotive protection products in the U.K. and Ireland. This strategic move enhances Fortegra's position in the automotive finance and insurance sector, expanding its capabilities since entering the region in 2017. The partnership, which builds on a relationship dating back to 2018, will help Fortegra innovate and provide compliant products to over 2,000 automotive dealerships and leasing brokers. The acquisition follows Fortegra's earlier purchase of ITC Compliance Limited, further solidifying its market presence.

Tiptree (NASDAQ: TIPT) subsidiary Fortegra Group has launched a new Catalytic Converter Theft Deterrent Product under the Smart AutoCare brand to combat the rising issue of catalytic converter thefts in the U.S. This limited warranty is already available at numerous auto dealers and is designed to protect car owners from the escalating theft rates, which saw over 52,000 reported thefts in 2021, up from around 1,300 in 2018. The product includes a theft deterrent system featuring a tamperproof seal for identification by law enforcement and scrap dealers. Fortegra holds an A.M. Best Financial Strength Rating of A-.

Tiptree Inc. (NASDAQ: TIPT) announced that Deputy CFO Scott McKinney will present at the Southwest IDEAS Investor Conference on November 16, 2022, at 4:45 PM ET in Dallas, TX. The presentation will be accessible via live webcast on the conference website and Tiptree's investor relations page. IDEAS Conferences aim to offer independent platforms for quality companies to showcase their investment potential.

Tiptree is focused on investing in small and mid-sized companies across various sectors, including insurance and specialty finance.

Tiptree announced its financial results for the three and nine months ending September 30, 2022. Revenues reached $363.5 million, up 26.8% from Q3 2021, mainly due to growth in Fortegra’s specialty insurance lines. Net income soared to $14.2 million from $2.0 million in Q3 2021, while adjusted net income slightly decreased by 6.4% to $19.4 million. The company completed vessel sales totaling $67.7 million in 2022 and repurchased 158,162 shares. A dividend of $0.04 per share was declared, payable on November 28, 2022.

Tiptree Inc. (NASDAQ: TIPT) will hold a conference call on November 3, 2022, at 9:00 AM ET to discuss its Q3 2022 results. Investors can access the presentation on the Company's website beforehand. Participants can join the call by dialing in 5 minutes early, with specific numbers for domestic and international attendees. A replay will be available after the call until November 10, 2022. Tiptree focuses on investing in small and middle market companies to build long-term value across various sectors.

Tiptree Inc. (NASDAQ:TIPT) announced the retirement of Chief Financial Officer Sandra Bell, effective March 31, 2023. Scott McKinney, who has been with the company since 2016 and most recently served as Deputy CFO, will succeed her. Ms. Bell expressed confidence in leaving the finance organization to McKinney, who has critical experience in financial planning and analysis. The company, established in 2007, focuses on allocating capital to small and middle-market companies, with a strong track record in the insurance sector and various industries.

Fortegra Group's European insurer, Fortegra Europe Insurance Company Ltd., received UK Branch approval from the Prudential Regulatory Authority, effective July 28, 2022. This authorization strengthens Fortegra's commitment to its UK operations and supports its ongoing growth strategy in Europe. The approval concludes the company’s participation in the post-Brexit Temporary Permissions Regime, facilitating continued service in the UK region. Fortegra has been operating in the UK since 2017 and maintains a strong A.M. Best Financial Strength Rating of A- (Excellent).

Tiptree Inc. (NASDAQ: TIPT) subsidiary, Fortegra Group, announced that its CEO Rick Kahlbaugh and CFO Mike Grasher will present at the Barclays Global Financial Services Conference in New York City on September 12, 2022, at 7:30 am EDT. A live audio feed and presentation will be accessible on Tiptree’s Investor Resources page. With over 40 years in the industry, Fortegra provides risk management solutions backed by an A.M. Best Financial Strength Rating of A- (Excellent). For further details, visit Fortegra's website.

Tiptree Inc. (NASDAQ: TIPT) announced that CFO Sandra Bell and Deputy CFO Scott McKinney will participate in the Midwest IDEAS Investor Conference on August 24, 2022, in Chicago. Their presentation will be webcasted and available at 4:00 pm ET. Investors can access the webcast through Tiptree’s investor relations website or the IDEAS conference site. The conference aims to connect quality companies with investment professionals, supported by sponsors managing over $200 billion in assets.