Operating Segment Data Tiptree is a holding company that combines specialty insurance operations with investment management expertise. We allocate our capital across our insurance operations and other investments. As such, we classify our business into one reportable segment  Specialty Insurance. Our non-insurance operations, assets and other investments which is comprised of our non-reportable operating segments and other business activities, we refer to as Tiptree Capital. Corporate activities include holding company interest expense, employee compensation and benefits, and other expenses. Our reportable segments income (loss) is reported before income taxes, discontinued operations and non-controlling interests. Segment results incorporate the revenues and expenses of these subsidiaries since they commenced operations or were acquired. For the year ended December 31, 2018, Mortgage and Asset Management, which previously were reportable segments, no longer meet the quantitative threshold for disclosure. Those are now reported in Other, which we refer to as Tiptree Capital. Prior year segments have been conformed to the current year presentation. Intercompany transactions are eliminated. A description of our reportable segment and of Tiptree Capital are as follows: Insurance: Specialty Insurance operations are conducted through Fortegra Financial Corporation (Fortegra), an insurance holding company. Fortegra underwrites and provides specialty insurance products, primarily in the United States, and is a leading provider of credit insurance and asset protection products. Fortegras range of products and services include credit protection insurance, warranty and service contract products, and other specialty insurance programs which underwrite niche personal and commercial lines of insurance. We also offer various other insurance related products and services throughout the U.S. through our non-regulated subsidiaries. Tiptree Capital: Tiptree Capital includes assets and operations of other non-insurance activities which include:  Asset Management operations which are primarily conducted through Tiptree Asset Management Company, LLC (TAMCO), an SEC-registered investment advisor owned by the Company. Results prior to deconsolidation include net income (loss) from consolidated CLOs.  Mortgage operations which are conducted through Reliance. The Companys mortgage origination business originated loans for sale to institutional investors, including GSEs and FHA/VA.  Additional operations include the investment in Invesque not held in Specialty Insurance, as well as the operations of our dry bulk vessels, and certain assets classified as held for sale. The tables below present the components of revenue, expense, pre-tax income (loss), and assets for our reportable segment as well as Tiptree Capital for the following periods: Year Ended December 31, 2018 Specialty Insurance Tiptree Capital Total Total revenue $ 549,872 $ 75,954 $ 625,826 Total expense (531,312 ) (83,759 ) (615,071 ) Corporate expense   (30,551 ) Net income (loss) before taxes from continuing operations $ 18,560 $ (7,805 ) $ (19,796 ) Less: provision (benefit) for income taxes (5,909 ) Net income (loss) from discontinued operations 43,770 Net income (loss) before non-controlling interests $ 29,883 Less: net income (loss) attributable to non-controlling interests 5,950 Net income (loss) attributable to Common Stockholders $ 23,933 Year Ended December 31, 2017 Specialty Insurance Tiptree Capital Total Total revenue $ 478,965 $ 102,833 $ 581,798 Total expense (473,561 ) (92,954 ) (566,515 ) Net income attributable to consolidated CLOs  10,457 10,457 Corporate expense   (29,070 ) Net income (loss) before taxes from continuing operations $ 5,404 $ 20,336 $ (3,330 ) Less: provision (benefit) for income taxes (12,562 ) Net income (loss) from discontinued operations (3,998 ) Net income (loss) before non-controlling interests $ 5,234 Less: net income (loss) attributable to non-controlling interests 1,630 Net income (loss) attributable to Common Stockholders $ 3,604 Year Ended December 31, 2016 Specialty Insurance Tiptree Capital Total Total revenue $ 394,170 $ 112,253 $ 506,423 Total expense (347,366 ) (95,365 ) (442,731 ) Net income (loss) attributable to consolidated CLOs  20,254 20,254 Corporate expense   (34,806 ) Net income (loss) before taxes from continuing operations $ 46,804 $ 37,142 $ 49,140 Year Ended December 31, 2016 Less: provision (benefit) for income taxes 12,515 Net income (loss) from discontinued operations (4,287 ) Net income (loss) before non-controlling interests $ 32,338 Less: net income (loss) attributable to non-controlling interests 7,018 Net income (loss) attributable to Common Stockholders $ 25,320 The following table summarizes sources of revenue from Tiptree Capital: Year Ended December 31, 2018 2017 2016 Net realized and unrealized gains (losses) (1) $ 40,446 $ 64,110 $ 72,538 Other investment income (2) 25,541 26,261 26,096 Management fee income 6,694 8,314 9,400 Other 3,273 4,148 4,219 Total Revenue $ 75,954 $ 102,833 $ 112,253 (1) See Note (5) Investments for the components of Net realized and unrealized gains (losses) related to Tiptree Capital. (2) See Note (5) Investments for the components of Other investment income. The following table presents the reportable segment and Tiptree Capital assets for the following periods: As of December 31, 2018 Specialty Insurance Tiptree Capital Corporate Total Total assets $ 1,514,084 $ 318,420 $ 32,414 $ 1,864,918 As of December 31, 2017 Specialty Insurance Tiptree Capital Corporate Total Total assets $ 1,367,437 $ 544,852 $ 77,453 $ 1,989,742