Slide 1: Investor Presentation – Fourth Quarter 2020
Investor Presentation – Fourth Quarter 2020 March 2021 Financial Information for the three months and year ended December 31, 2020
Slide 2: Disclaimers
Disclaimers LIMITATIONS ON THE USE OF INFORMATION This presentation has been prepared by Tiptree Inc. and its consolidated subsidiaries (“Tiptree", "the Company" or "we”) solely for informational purposes, and not for the purpose of updating any information or forecast with respect to Tiptree, its s
Slide 3: Overview & Financial Highlights
Overview & Financial Highlights
Slide 4: 2020 Highlights
2020 Highlights ($ in millions, except per share information) Overall Revenue Adjusted net income2 of $51.4m, a 13.1% adj ROAE2, driven by improvement in insurance and mortgage operations. $810.3 million Total return for 2020 of (4.0)%3, driven by unrealized mark-to-market losses, primarily rela
Slide 5: Financial Results
Financial Results ($ in millions, except per share information) Q4'19 Q4'20 2019 2020 Key Highlights: Total Revenues $208.6 $257.4 $772.7 $810.3 2020 revenues up 17.4% (ex. investment gains and losses), driven by: Net income (loss) b/f NCI $4.6 $16.2 $20.1 $(25.2) • Stable growth in insurance underw
Slide 6: KPIs - Underlying Operations Remain Resilient
KPIs - Underlying Operations Remain Resilient ($ in millions) Consolidated Adjusted Net Income1 Insurance Gross Written Premiums & Equivalents2 28.5% $491 $1,667 growth Quarterly Total Year 18 53 (‘19-’20) $1,297 $362 151 34 550 12.4% $310 10 $1,096 1 297 growth 1 88 209 Ex. Smart 54 $51.4 AutoCare
Slide 7: Operating Performance
Operating Performance ($ in millions) 2020 Capital Allocation & Annual Performance Comparison 2020 Highlights Stockholders’ Equity Adjusted Net Income1 Adjusted net income of $51.4m, up 86.4% from 2019 • Adjusted return on average equity of 13.1%1 2020 2019 2020 Business Lines Insurance: 15.2% Adjus
Slide 8: Insurance Performance Highlights
Insurance Performance Highlights
Slide 9: Insurance – Financial Performance Highlights
Insurance – Financial Performance Highlights ($ in millions) Summary Financials1 2020 Highlights & Outlook Q4'19 Q4'20 2019 2020 1 Continued growth through insurance and warranty program expansion Premiums & equivalents2 $361.7 $490.9 $1,297.0 $1,666.9 and onboarding new clients, with a focus on sta
Slide 10: Insurance Investment Portfolio
Insurance Investment Portfolio ($ in millions) 2020 Investment Mix Other investments Fixed Income & Cash $713 Other Cash & Alternatives Equivalents 13% 124 Equities 15% $566 5% 90 Muni's & ABS 11% Government $713m & Agency 27% Fixed Income 589 ETFs 9% 476 Corporate Bonds 20% Key Observations Fixed I
Slide 11: Tiptree Capital Performance Highlights
_| TiptreeCapital Performance Highlights
Slide 12: Tiptree Capital – Financial Performance Highlights
Tiptree Capital – Financial Performance Highlights ($ in millions) Tiptree Capital Equity 2020 Performance & Outlook $205.7 Mortgage: $182.2 2.6 • Pre-tax income increased substantially year-over year driven $166.0 by improved volumes and margins 3.7 Asset Management 94.1 26.0 • Mortgage origination
Slide 13: Summary & Outlook
Summary & Outlook ($ in millions, except per share information) Adjusted Net Income1 2020 Highlights ✓ Resilient underlying operational performance in 2020 ✓ Continued execution on growth initiatives in our insurance operations $51.4 $27.6 ✓ Despite unrealized marks, capital and liquidity remain str
Slide 14: Appendix – Non-GAAP Reconciliations
Non-GAAP Reconciliations • Insurance underwriting and fee revenue Appendix • • Insurance underwriting and fee margin Book Value per share • Adjusted net income 13
Slide 15: Non-GAAP Reconciliations
Non-GAAP Reconciliations Adjusted Net Income We define adjusted net income as income before taxes, less provision (benefit) for income taxes, and excluding the after-tax impact of various expenses that we consider to be unique and non-recurring in nature, including merger and acquisition related exp
Slide 16: Non-GAAP Reconciliations – Underwriting and Fee Revenues & Margin
Non-GAAP Reconciliations – Underwriting and Fee Revenues & Margin ($ in thousands) For the Year Ended December 31, We define underwriting and fee revenues as total revenues from our Insurance segment 2020 2019 2018 excluding net investment income, net realized and unrealized gains (losses). Underwri
Slide 17: Non-GAAP Reconciliations – Adjusted Net Income
Non-GAAP Reconciliations – Adjusted Net Income ($ in thousands) Year Ended December 31, 2020 Year Ended December 31, 2019 Tiptree Capital Tiptree Capital Corporate Corporate Insurance Mortgage Other Expenses Total Insurance Mortgage Other Expenses Total Income (loss) before taxes $ 26,948 $ 31,102 $
Slide 18: Tiptree Inc.
TiptreeInc. ir@tiptreeinc.com