Tiptree | Jotup

TIPTREE ANNOUNCES AGREEMENT TO DISPOSE OF COMMON SHARES OF INVESQUE INC.

Retrieved on:

Friday, March 29, 2024

Indian stock exchange, Tiptree, TIPT, Sale, National instrument, Transaction, Related, Security (finance)

TORONTO, March 29, 2024 /CNW/ - Tiptree Inc. ("Tiptree") (NASDAQ: TIPT) announces that certain of its subsidiaries (collectively the "Sellers"), entered into an agreement to dispose of an aggregate of 16,982,283 common shares (the "Common Shares") of Invesque Inc. ("Invesque"), in a private sale.

Key Points:

TORONTO, March 29, 2024 /CNW/ - Tiptree Inc. ("Tiptree") (NASDAQ: TIPT) announces that certain of its subsidiaries (collectively the "Sellers"), entered into an agreement to dispose of an aggregate of 16,982,283 common shares (the "Common Shares") of Invesque Inc. ("Invesque"), in a private sale.
Based on the daily average exchange rate on March 28, 2024, the Canadian equivalent for the price per Common Share is CDN$0.049868 and the aggregate purchase price is CDN$846,875
Prior to the Transaction, Tiptree beneficially owns 16,982,283 Common Shares of Invesque, representing 30.2% of the issued and outstanding Common Shares of Invesque.
Upon completion of the Transaction, Tiptree will no longer have ownership of, or control or direction over, any Common Shares of Invesque.
Tiptree, through the Sellers, entered into the Share Purchase Agreement in order to dispose of its interest in Invesque.

Tiptree Announces Fourth Quarter 2023 Results

Retrieved on:

Wednesday, February 28, 2024

Asset Management, Professional Services, Insurance, Finance, GAAP, Tiptree, Sale, Nature, Corporation, Tax

Tiptree Capital loss before taxes was $2.1 million for the quarter, compared to income of $8.5 million in Q4’22, driven by lower mortgage revenues and the sale of vessels in 2022.

Key Points:

Tiptree Capital loss before taxes was $2.1 million for the quarter, compared to income of $8.5 million in Q4’22, driven by lower mortgage revenues and the sale of vessels in 2022.
Total Tiptree Capital book value was $178.1 million as of Q4’23.
For the quarter, corporate expenses were $12.1 million compared to $12.5 million in Q4'22.
Tiptree will host a conference call on Thursday, February 29, 2024 at 10:30 a.m. Eastern Time to discuss its Q4 2023 financial results.

Tiptree Announces Third Quarter 2023 Results and Intent to Take Fortegra Public

Retrieved on:

Wednesday, November 1, 2023

Professional Services, Insurance, Finance, Nature, Sale, Corporation, Investment, GAAP, Tiptree, Tax, Bank, Cryptocurrency

Total Tiptree Capital book value was $185.9 million as of Q3’23.

Key Points:

Total Tiptree Capital book value was $185.9 million as of Q3’23.
Corporate includes expenses of the holding company for employee compensation and benefits, audit and professional fees, and public company and other expenses.
Tiptree will host a conference call on Thursday, November 2, 2023 at 10:30 a.m. Eastern Time to discuss its Q3 2023 financial results.
A replay of the call will be available from Thursday, November 2, 2023 at 12:00 p.m. Eastern Time, until midnight Eastern on Thursday, November 9, 2023.

Tiptree Reports Second Quarter 2023 Results

Retrieved on:

Wednesday, August 2, 2023

Professional Services, Finance, Tax, GAAP, Nature, Tiptree, Corporation, Sale

Total Tiptree Capital book value was $201.5 million as of Q2’23.

Key Points:

Total Tiptree Capital book value was $201.5 million as of Q2’23.
For the quarter, corporate expenses were $9.5 million compared to $13.3 million in Q2'22.
Tiptree will host a conference call on Thursday, August 3, 2023 at 10:30 a.m. Eastern Time to discuss its Q2 2023 financial results.
A replay of the call will be available from Thursday, August 3, 2023 at 12:00 p.m. Eastern Time, until midnight Eastern on Thursday, August 10, 2023.

Tiptree Reports First Quarter 2023 Results

Retrieved on:

Wednesday, May 3, 2023

Finance, Banking, Professional Services, Small Business, Insurance, MSR, Tax, GAAP, Nature, Tiptree, Corporation, Sale, Bank, Cryptocurrency

Total Tiptree Capital book value, including corporate net assets, was $220.5 million as of Q1’23.

Key Points:

Total Tiptree Capital book value, including corporate net assets, was $220.5 million as of Q1’23.
For the quarter, corporate expenses were $10.1 million compared to $12.2 million in Q1'22.
Tiptree will host a conference call on Thursday, May 4, 2023 at 9:00 a.m. Eastern Time to discuss its Q1 2023 financial results.
A replay of the call will be available from Thursday, May 4, 2023 at 12:00 p.m. Eastern Time, until midnight Eastern on Thursday, May 11, 2023.

Tiptree Reports Fourth Quarter and 2022 Results

Retrieved on:

Wednesday, March 8, 2023

Small Business, Professional Services, Finance, Corporation, Nature, GAAP, Sale, Tax, Tiptree, Life insurance

Tiptree Capital income before taxes for the quarter was $8.5 million compared to $7.6 million in the prior year driven by the gain on sale of two tankers.

Key Points:

Tiptree Capital income before taxes for the quarter was $8.5 million compared to $7.6 million in the prior year driven by the gain on sale of two tankers.
For the quarter, corporate expenses were $12.5 million compared to $17.0 million in Q4'21 and for the year were $46.4 million compared to $50.1 million.
The decrease for each respective period was driven by lower incentive compensation expense and interest expense as we repaid our corporate holding company borrowings in June 2022.
Tiptree will host a conference call on Thursday, March 9, 2023 at 9:00 a.m. Eastern Time to discuss its Q4 and full year 2022 financial results.

Tiptree Announces Plan for CFO Transition

Retrieved on:

Monday, October 17, 2022

Tiptree Inc. (NASDAQ:TIPT) (Tiptree or the Company), today announced that Sandra Bell will be retiring as Chief Financial Officer of Tiptree, effective March 31, 2023 (or if later, then the filing of Tiptrees 2022 Form 10-K ) (the Transition Effective Date).

Key Points:

Tiptree Inc. (NASDAQ:TIPT) (Tiptree or the Company), today announced that Sandra Bell will be retiring as Chief Financial Officer of Tiptree, effective March 31, 2023 (or if later, then the filing of Tiptrees 2022 Form 10-K ) (the Transition Effective Date).
Tiptree also announced that Scott McKinney will succeed Ms. Bell as Chief Financial Officer on the Transition Effective Date.
The Company and Ms. Bell have mutually agreed on the terms under which she will stay on as CFO until the Transition Effective Date.
Executive Chairman Michael Barnes said On behalf of the board of directors, we are extremely grateful to Sandra for her achievements and leadership while here at Tiptree.

Tiptree Announces Closing of Strategic Investment in Fortegra From Warburg Pincus LLC

Retrieved on:

Tuesday, June 21, 2022

Tiptree Inc. (NASDAQ:TIPT) (Tiptree or the Company), today announced the closing of the previously announced $200 million strategic investment in its insurance subsidiary, The Fortegra Group, Inc. (Fortegra) from Warburg Pincus, a leading global growth investor.

Key Points:

Tiptree Inc. (NASDAQ:TIPT) (Tiptree or the Company), today announced the closing of the previously announced $200 million strategic investment in its insurance subsidiary, The Fortegra Group, Inc. (Fortegra) from Warburg Pincus, a leading global growth investor.
The investment gives Warburg Pincus an approximately 24% ownership in Fortegra on an as-converted basis.
This transaction highlights the underlying intrinsic value of Fortegra to Tiptree shareholders, representing a significant milestone for the Company.
With the backing of Tiptree and Warburg Pincus, Fortegra enters its next phase of growth focused on the specialty admitted and E&S lines, while maintaining its historically strong underwriting principles.

PCMI Names Tom Arnieri Vice President of Business Development

Retrieved on:

Wednesday, May 4, 2022

PARK RIDGE, Ill., May 4, 2022 /PRNewswire-PRWeb/ -- PCMI (Policy Claims Management International), a leading provider of administration software for automotive, consumer warranty and service management markets announced it has named Tom Arnieri Vice President of Business Development. In this role, Tom will be responsible for developing new market initiatives, evaluating new markets, and analyzing business opportunities.

Key Points:

Tom will lead PCMI's strategic development, building on the company's growth through new markets and business initiatives
PARK RIDGE, Ill., May 4, 2022 /PRNewswire-PRWeb/ -- PCMI (Policy Claims Management International), a leading provider of administration software for automotive, consumer warranty and service management markets announced it has named Tom Arnieri Vice President of Business Development.
For the past ten years, Tom served as Vice President of Business Development within The Fortegra Group, LLC including Auto Knight Motor Club and Fortegra Automotive Group.
Most recently, Tom served as Vice President of Business Development at Smart AutoCare, also owned by Fortegra's parent company, Tiptree, Inc.
As an established Business Development Executive, Tom has worked within the Automotive Aftermarket industry for almost two decades with administrators, insurance providers, and as a consultant.

Tiptree Announces Strategic Investment in Fortegra From Warburg Pincus LLC

Retrieved on:

Tuesday, October 12, 2021

Tiptree Inc. (NASDAQ:TIPT) (Tiptree or the Company), today announced a $200 million strategic investment in its insurance subsidiary, The Fortegra Group, LLC (Fortegra) from Warburg Pincus, a leading global growth investor.

Key Points:

Tiptree Inc. (NASDAQ:TIPT) (Tiptree or the Company), today announced a $200 million strategic investment in its insurance subsidiary, The Fortegra Group, LLC (Fortegra) from Warburg Pincus, a leading global growth investor.
The investment will give Warburg Pincus an approximate 24% ownership in Fortegra on a fully diluted basis and is expected to close in the first quarter 2022.
With the backing of Tiptree and Warburg Pincus, Fortegra enters its next phase of growth focused on the specialty admitted and E&S lines, while maintaining its historically strong underwriting principles.
Joining forces with Warburg Pincus is yet another chapter in the Fortegra story and together Fortegra, Tiptree and Warburg Pincus will accelerate the exceptional growth and profitability of Fortegra, said Rick Kahlbaugh, the Chief Executive Officer of Fortegra.