Tiptree Inc. (NASDAQ: TIPT) witnessed a significant pre-market surge of 11.36% on Wednesday, propelled by the impressive performance and promising growth prospects of its subsidiary, Fortegra. Investors are betting on the continued strength of Fortegra's insurance operations, which are expected to drive substantial growth for the parent company in the upcoming year.
According to the company's latest earnings report, Fortegra's net written premiums grew over 15% year-over-year, reflecting the robust demand for its insurance products. The company's combined ratio remained at an exceptionally low 90.2%, indicating efficient underwriting practices and strong profitability.
Analysts are projecting that Fortegra's earnings will surpass the $150 million mark this year, representing a substantial increase from the previous year's performance. The company's impressive return on average equity (ROAE) of 27.7% further underscores its ability to generate attractive returns for shareholders.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.