NEW YORK--(BUSINESS WIRE)--Tiptree Financial Inc. (NASDAQ: TIPT) (“Tiptree”) announced today that it has completed the previously announced sale of its subsidiary Philadelphia Financial Group, Inc. (including both its Third Party Administration and Life Insurance operations) (“PFG”), to funds managed by Blackstone (NYSE: BX). The sellers received a payment of $155 million at closing and will receive additional two payments over the next two years totaling approximately $9 million. Tiptree owned