|Company's Full Name:||Tiptree Inc.|
|Trading Ticker Symbol:||TIPT|
|Headquarter City/Country:||New York, NY|
|Primary Industry Sector:||Finance|
|Seconday Sub-sector:||Specialty Insurers|
|Main Business Areas:||Finance, Specialty Insurers, Financial Services, Specialty Insurance|
|Dividend Payments:||Dividend History|
|Current Share Price:||$6.56|
|Previous Year's Closing Price:||$5.59|
|Percentage Price Change (YTD):||17.35%|
|Market Cap:||$226.49 million|
|52-week Price Range:||$5.01 - $6.99|
|Dividend Per Share:||$0.14|
Tiptree Inc., formerly Tiptree Financial Inc., incorporated on March 19, 2007, is a diversified holding company that acquires and manages controlling interests of operating businesses. The Company conducts its operations through Tiptree Operating Company, LLC (the Operating Company). The Company operates through five segments: insurance and insurance services, specialty finance, real estate, asset management, and corporate and other. The insurance and insurance services segment operates through Fortegra Financial Corporation (Fortegra). The specialty finance segment operates through Siena Capital Finance LLC (Siena) and Luxury Mortgage Corp (Luxury). The real estate segment operates through Care LLC (Care). The asset management segment operations include Telos Asset Management's (TLAM) management of collateralized loan obligations (CLOs) and Muni Capital Management's (MCM) management of Non-Profit Preferred Funding Trust I (NPPF I). The corporate and other segment operations include Tiptree Direct Holdings LLC (TDH) and Muni Funding Company of America LLC (MFCA).
Insurance and Insurance Services
Fortegra is an insurance and insurance services company offering consumer related protection products, including credit insurance, non-standard auto insurance, warranties, service contracts and auto warranty and roadside assistance. Fortegra also offers administration services through a vertically integrated platform and provides fronting services for self-insured clients. Fortegra's products and related services offer protection from life events and uncertainties. Credit insurance and debt protection products offer consumers the option to protect a loan balance in the event of death, disability, job loss or other events that could impair the consumers' ability to repay a debt and damage their credit. Warranty and other service contracts for mobile handsets, furniture and appliances provide consumers protection from product failure and loss. Automotive products protect consumers from mechanical failure and provide roadside assistance when needed. Fortegra's products are marketed under its Fortegra, Life of the South, ProtectCELL, 4Warranty, United Motor Club, Continental Car Club, Auto Knight and Consecta brands. Through these brands, Fortegra delivers credit insurance, debt protection, warranty and other service contracts, motor club solutions, membership plans and other services to installment loan companies, retailers, independent wireless dealers, regional banks, community banks, warranty administrators, automobile dealers, vacation ownership developers and credit unions.
Siena is a commercial finance company providing financing solutions to the small and medium sized the United States companies. Siena originates, structures, underwrites and services senior secured asset-based loans for companies operating across a range of industry sectors. Its financing solutions include revolving lines of credit and term loans. Siena also offers a servicing platform, which provides asset based lending solutions for community and regional banks that do not have capacity to underwrite or service asset-based loans. Luxury is a residential mortgage lender that originates loans, including prime jumbo and super jumbo mortgages for sale to institutional investors. The loans are typically sold shortly after origination into a liquid secondary market. Luxury sells all of its loans on a servicing released basis. Luxury offers a range of residential adjustable and fixed rate mortgage products. Luxury uses two production channels to originate or acquire mortgage loans: retail sales offices (retail) and a broker channel (wholesale). In the retail channel, loans are originated by mortgage loan originators employed by Luxury. In the wholesale channel, an unaffiliated bank, mortgage bank or mortgage brokerage company, completes much of the loan paperwork.
Care is a real estate investment company that acquires and owns seniors housing properties. Care's seniors housing communities include senior apartments, independent and assisted living communities, a skilled nursing facility and memory care communities. As of December 31, 2015, Care's portfolio consisted of 24 properties across nine states in the Northeast, Mid-Atlantic and Southern United States. Care's properties are either leased to tenants pursuant to a triple net lease (Triple Net Lease Properties) or owned by Care but managed by a management company pursuant to a management agreement (Managed Properties). As of December 31, 2015, Care's portfolio is consisted of 11 Triple Net Lease Properties and 13 Managed Properties. In Triple Net Lease Properties, Care owns the real estate and enters into a long-term lease with an operator who is responsible for bearing operating costs, including maintenance, utilities, taxes, insurance, repairs and capital improvements. In Managed Properties, Care owns between 60% to 80% of the real estate and the operations with affiliates of the management company owning the remainder.
The Company's asset management segment conducts its operations through Tiptree Asset Management Company, LLC (TAMCO), an investment advisor that is a holding company for asset management subsidiaries, which include Telos and MCM. Telos is an investment manager that establishes and manages investment products for a range of investors, including pension funds, hedge funds and other asset management firms, banks, insurance companies and other types of institutional investors. Its investment products are in the form of CLOs and managed accounts investing in leveraged loans. MCM is a manager of investments in securities exempt from the United States federal income taxes. MCM manages NPPF I, a structured tax-exempt pass-through vehicle. MCM is also the manager of the Company's portfolio of tax exempt securities.
Corporate and Other
TDH holds the Company's principal investments, which consist of CLO subordinated notes, common shares of RAIT Financial Trust (RAIT), an nonperforming residential real estate mortgage loans (NPL) portfolio, risk mitigation transactions, warehouse holdings, holdings in the Star Asia Finance, Limited, Star Asia Opportunity, LLC and Star Asia Opportunity II-LLC (Star Asia Entities) and other corporate investments. MFCA is a specialty finance company that owns and manages a portfolio of non-investment grade and non-rated direct and indirect debt obligations of middle-market tax-exempt borrowers.
The Company competes with The Warranty Group, Inc., Assurant, Inc., eSecuritel Holdings, LLC, Asurion, LLC and AmTrust Financial Services, Inc.
780 3rd Ave Fl 21
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