Investment Income and Net Realized and Unrealized Gains and Losses (Tables)

9 Months Ended

Sep. 30, 2020

Income Statement [Abstract]

Investment Income

The following tables present the components of net investment income by source of income:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Interest:
AFS securities	$	1,748	$	2,032	$	6,003	$	6,243
Loans, at fair value	113		360		509		2,968
Other investments	1,718		452		2,868		662
Dividends from equity securities	74		612		1,142		2,041
Subtotal	3,653		3,456		10,522		11,914
Less: investment expenses	630		472		1,719		1,201
Net investment income	$	3,023	$	2,984	$	8,803	$	10,713

Other Investment Income - Tiptree Capital

Other investment income represents other income from other Tiptree non-insurance activities as disclosed within other revenue on the condensed consolidated statements of operations, see Note (16) Other Revenue and Other Expenses. The following tables present the components of other investment income by type:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Interest:
Loans, at fair value	$	1,333	$	1,596	$	4,020	$	4,473
Other	—		95		—		225
Dividends from equity securities	—		2,533		2,533		7,599
Loan fee income	4,817		3,595		12,643		8,726
Vessel related revenue	5,517		4,807		17,218		10,758
Other investment income	$	11,667	$	12,626	$	36,414	$	31,781

Net realized and unrealized gain (losses)

The following table presents the components of net realized and unrealized gains (losses) recorded on the condensed consolidated statements of operations. Net unrealized gains (losses) on AFS securities are included within other comprehensive income, and as such, are not included in this table. Net realized and unrealized gains (losses) on non-investment financial assets and liabilities are included below:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Net realized gains (losses)
Tiptree Insurance:
Reclass of unrealized gains (losses) on AFS securities from OCI	$	115	$	187	$	211	$	1,228
Gains from recoveries (credit losses) on AFS securities	(7)		—		44		—
Net realized gains (losses) on loans	202		1,316		(1,305)		3,332
Net realized gains (losses) on equity securities	(1,540)		553		(22,429)		1,035
Other	1,769		235		5,076		235
Tiptree Capital:
Net realized gains (losses) on loans	40,229		21,449		91,238		51,897
Total net realized gains (losses)	40,768		23,740		72,835		57,727
Net unrealized gains (losses)
Tiptree Insurance:
Net change in unrealized gains (losses) on loans	157		(1,424)		(2,063)		(4,832)
Net unrealized gains (losses) on equity securities held at period end	(2,135)		(1,354)		(26,875)		3,937
Reclass of unrealized (gains) losses from prior periods for equity securities sold	281		(404)		17,290		(807)
Other	1,817		(165)		2,741		575
Tiptree Capital:
Net change in unrealized gains (losses) on loans	2,602		466		3,577		1,361
Net unrealized gains (losses) on equity securities held at period end	(7,586)		(6,513)		(65,970)		(1,405)
Other	3,055		956		5,093		2,190
Total net unrealized gains (losses)	(1,809)		(8,438)		(66,207)		1,019
Total net realized and unrealized gains (losses)	$	38,959	$	15,302	$	6,628	$	58,746