Tiptree Reports Second Quarter 2022 Results
Tiptree Inc. (TIPT)
US:NASDAQ Investor Relations:
tiptreefinancial.com
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--Tiptree Inc. (NASDAQ:TIPT) (“Tiptree” or the “Company”), today announced its financial results for the three and six months ended June 30, 2022.Second Quarter 2022 SummaryIn June 2022, Tiptree closed the previously announced $200 million strategic investment in Fortegra by Warburg Pincus. As part of the closing, $113 million of Tiptree’s corporate debt was repaid in full.Tiptree recognized a $63.2 million pre-tax gain in stockholders’ equity from the investment in Fortegra, which was partially offset by $39.6 million of tax expense associated with the tax deconsolidation of Fortegra. Of the total deferred tax liability, $25.5 million impacted net income with the remainder impacting stockholders’ equity directly.In the second quarter, we sold one dry bulk vessel for $21.5 million and signed definitive agreements to sell the remaining two dry bulk vessels for an aggregate of $46.2 million, representing an approximate 45% gain as compared to Q2’22 book valu
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TIPT
Sec Filings
- 4/5/24 - Form 4
- 4/5/24 - Form 4
- 3/18/24 - Form DEF
- TIPT's page on the SEC website