Tiptree Financial Inc. announced that Geoffrey N. Kauffman, the Co-Chief Executive Officer of the Company, notified the Board of Directors of the Company (the Board") of his decision to resign as an employee and director of the Company to pursue other opportunities effective immediately. The Board appointed Jonathan Ilany, formerly the Company's Co-Chief Executive Officer, as the Company's sole Chief Executive Officer effective November 10, 2015. Also on November 10, 2015, Mr. Ilany resigned as a Class I director and was appointed as a Class III director.

The authorized number of directors of the Board has been reduced from seven to six members.