Tiptree Inc. announced its financial results for the fourth quarter and full year ended December 31, 2024, demonstrating significant growth. Total revenues for the full year increased by 23.9% to $2.043 billion, up from $1.649 billion in 2023. Net income attributable to common stockholders for the year reached $53.4 million, a substantial increase from $14.0 million in the prior year.
Diluted earnings per share for the full year 2024 were $1.30, compared to $0.33 in 2023. The company achieved an adjusted return on average equity of 22.9% for the full year, an improvement from 15.2% in 2023. For the fourth quarter alone, net income attributable to common stockholders was $19.6 million, up from $6.9 million in Q4 2023, with diluted EPS of $0.47.
Fortegra, the insurance segment, reported gross written premiums and premium equivalents of $3.068 billion for the full year 2024, a 12% increase from 2023. Fortegra's combined ratio improved to 90.0% for the full year, down from 90.3% in 2023, indicating strong underwriting performance. Adjusted net income for Fortegra was $157.0 million for the year, up from $115.7 million in 2023.
Tiptree Capital, the investment segment, reported income before taxes of $4.6 million for the full year 2024, a significant turnaround from a loss of $6.5 million in 2023. The company's book value per share increased to $12.29 as of December 31, 2024, up 12.6% from the prior year. These results highlight the company's overall operational strength and effective capital allocation.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.