Tiptree Inc. (TIPT) Q4 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Greetings. Welcome to TipTree Inc. Fourth Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to Scott McKinney, Chief Financial Officer. Thank you. You may begin. Good morning, and welcome to our fourth quarter 2023 earnings call. Joining me today are Michael Barnes, our executive chairman, and Jonathan Alani, CEO. Some of our comments today will contain forward-looking statements, and actual future results may differ materially. Please see our most recent SEC filings, which identify the principal risks and uncertainties that could affect future performance. In today's call, we will discuss non-GAAP financial metrics, which are described in more detail in our presentation. Reconciliations of these metrics and additional disclosures can be found in our SEC filings, the appendix to our presentation, and on our website. With that, I will turn the call over to Michael. Thanks, Scott, and good morning to everyone. 2023 proved to be a year of exceptional performance for Tiptree. Our operating businesses continued to build upon their track record of growth and profitability, resulting in an 18% increase in revenues to $1.6 billion for the year, alongside an adjusted return on equity of 15%. In light of our continuing positive performance, we are pleased to have increased our quarterly dividend by 20% to $0.06 per share. The Fortegra Group, our specialty insurance business, achieved record results for the year, with premium and premium equivalent growth of 21% and an ...