Overview

* Tiptree ( TIPT ) Q2 revenue falls 3.3% yr/yr, driven by lower net earned premiums

* Net income rises to $19 mln from $12.9 mln, driven by Fortegra's growth

* Adjusted net income increases 11.1% yr/yr, reflecting strong insurance performance

Outlook

* Company exploring ways to better reflect intrinsic value in share price

Result Drivers

* PREMIUM GROWTH - Fortegra's gross written premiums rose 17%, driven by specialty E&S insurance lines

* INVESTMENT INCOME - Higher net investment income and gains partially offset declines in net earned premiums

* UNDERWRITING IMPROVEMENT - Combined ratio improved to 88.5%, reflecting better underwriting performance

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 $528.75

Revenue mln

Q2 EPS $0.37

Q2 $27.13

Adjusted mln

Net

Income

Q2 Net $18.96

Income mln

Q2 88.5%

Combined

Ratio

Analyst Coverage

* The stock recently traded at 48 times the next 12-month earnings vs. a P/E of 54 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)