Tiptree Financial Inc. Reports Full Year 2014 Financial Results

By a News Reporter-Staff News Editor at Investment Weekly News -- Tiptree Financial Inc. (NASDAQ:TIPT) ("Tiptree Financial"), a diversified holding company which operates in the following industries: insurance and insurance services, specialty finance, asset management and real estate, announced its financial results for the year ended December 31, 2014. Tiptree Financial operates its business through Tiptree Operating Company, LLC ("Tiptree" or the "Company") which is owned 77% by Tiptree Financial and 23% by Tiptree Financial Partners, L.P. ("TFP"). This release reports both the results of Tiptree and the results available to Tiptree Financial Class A stockholders. 2014 Highlights Acquisition of Fortegra Financial Corporation ("Fortegra") in December 2014. Fortegra focuses on credit insurance, warranty protection, warranty and roadside assistance and business process outsourcing services for insurers and commercial lenders.

Agreement to sell Philadelphia Financial Group, Inc. for approximately $165 million. Completion of the transaction is expected in the third quarter of 2015.

Completion of two CLOs by Telos Asset Management, LLC adding more than $750 million to assets under management ("AUM"), bringing total Tiptree asset management AUM in excess of $2 billion at the end of 2014.

Care Investment Trust LLC ("Care") had realized gains of $7.9 million and added senior housing-related investments of $40 million in 2014. During the first quarter of 2015, Care added $85 million of senior housing-related investments.

Agreement to purchase Reliance First Capital, LLC, a mortgage origination business which will further expand Tiptree's operations in the mortgage industry. Completion of the transaction is expected in the third quarter of 2015.

Tiptree Financial's shares added to the Russell 2000 index on June 30, 2014.

Completion of the public registration of 21.2 million shares in November 2014 for resale by partners who exchanged private partnership units for Tiptree Financial Class A common shares.

Declared dividend of $0.025 per share to Class A stockholders and TFP limited partners on an as exchanged basis with a record date of April 9, 2015, and a payment date of April 23, 2015.

Keywords for this news article include: Mortgage, Real Estate, Tiptree Financial Inc.