NEW YORK--(BUSINESS WIRE)--Tiptree Financial Inc.(NASDAQ:TIPT) has repurchased 5,596,000 shares of Class A common stock of Tiptree for aggregate consideration of $36,374,000 from ProSight Specialty Insurance Group, Inc.

The transaction is expected to be accretive to both book value and earnings per share on a GAAP basis. The shares acquired will be held as treasury shares and will not be outstanding for accounting or voting purposes. Following the transaction there are 29,257,996 shares of Tiptree Class A common stock outstanding.

About Tiptree

Tiptree is a diversified holding company engaged through its consolidated subsidiaries in a number of businesses and is an active acquirer of new businesses. Tiptree, whose operations date back to 2007, currently has subsidiaries that operate in five industries: insurance and insurance services, specialty finance, asset management and real estate. Tiptree’s principal investments are included in a corporate and others segment.