TIPT - Tiptree: Ignore The Noise And Focus On The Profits
2025-05-15 07:32:51 ET
Summary
- Fortegra delivered strong Q1 results with 13% premium growth, 18% adjusted net income growth, and a highly profitable 89.9% combined ratio.
- Deliberate reduction in low-ROAE services supports focus on core insurance, with premium growth outpacing comps despite industry headwinds from wildfires.
- Tiptree's $1.5B+ float yields 4.1%, generating significant carry and supporting robust earnings power for the next several years.
- Valuation remains compelling: with high ROAE, strong growth, and a large float, shares should trade much higher, making any dip a buying opportunity.
Tiptree Q1 Review:
Tiptree ( TIPT ) reported another nice quarter on April 30th. Since this is all about Fortegra right now, I'll focus on the highlights there....
Tiptree: Ignore The Noise And Focus On The Profits