Tiptree, Inc. (TIPT) CEO Jonathan Ilanay on Q2 2020 Results - Earnings Call Transcript

Tiptree, Inc. (NASDAQ:TIPT) Q2 2021 Earnings Conference Call August 5, 2021 9:00 AM ET

Company Participants

Michael Barnes - Executive Chairman
Jonathan Ilanay - Chief Executive Officer
Sandra Bell - Chief Financial Officer

Conference Call Participants

Jeffrey Bronchick - Cove Street Capital
Walter Schenker - MAZ Partners

Operator

Greetings and welcome to Tiptree Inc.'s Second Quarter 2021 Earnings conference call. [Operator instructions] As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host, Sandra Bell, Chief Financial Officer.

Sandra Bell

Good morning and welcome to our second quarter 2021 earnings call. We are joined today by our Executive Chairman, Michael Barnes; and CEO, Jonathan Ilany. You can find the slides that accompany this review on our investor relations website. Please note that some of our comments today will contain forward-looking statements based on our current view of our business, 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 addition, we will discuss certain adjusted or non-GAAP financial measures, which are described in more detail in this morning's presentation. Reconciliations of non-GAAP financial measures and other associated disclosures are contained in our SEC filings, the appendix to our presentation and posted on our website.

With that, I will turn the call over to Michael.

Michael Barnes

Thanks, Sandra. Good morning, everyone. Our second quarter performance was a continuation of the positive trends we have experienced over the past year with all businesses contributing. First half revenues of $594 million and net income of $36.6 million were both up substantially from 2020, driven by the particularly strong performance of Fortegra, our specialty insurance business; Reliance, our mortgage business; and gains on investment holdings across the company.