Hippo Holdings Inc (HIPO)

Hippo Reports First Quarter 2026 Financial ResultsApril 30, 2026 7:00 AM
PR Newswire (US)

SAN JOSE, Calif., April 30, 2026 /PRNewswire/ -- Hippo Holdings Inc.  (NYSE: HIPO), a technology-native insurance platform reported net income of $7 million, or $0.27 per diluted share and  adjusted net income of $17 million, or $0.65 per diluted share, for the quarter ended March 31, 2026.







First Quarter HighlightsGross Written Premium increased 58% to $332 million over 1Q25Net Income of $7 million vs. a Net Loss of $48 million in 1Q25Adjusted Net Income of $17 million vs. an Adjusted Net Loss of $35 million in 1Q25Net Loss Ratio improved 58 percentage points to 48.0% compared to 1Q25Combined Ratio improved 60 percentage points to 99.5% compared to 1Q25Revenue grew 10% to $122 million compared to 1Q25Book Value per share of $17.23 up 2% from year-end 2025"We got off to a fast start in 2026, significantly advancing our strategies on both growth and operational efficiencies. The launch of our strategic distribution relationship with Progressive, when—combined with our existing Westwood partnership —creates a truly differentiated distribution network for Hippo's homeowners product that is both tech-enabled and scaled. Technology, which has long been a source of strength for Hippo, is core to supporting these new expanded distribution channels.  Our AI-powered transformation across claims, services and underwriting should both support growth and increase profitability for Hippo over time," said Rick McCathron, Hippo President and CEO. He continued, "For the quarter, Hippo grew gross written premium by 58%, significantly improved our underwriting results with a 60 point reduction in our combined ratio, and continued to deliver positive net income $7 million of and adjusted net income of $17 million for the quarter. We are operating as a unified, technology-native carrier platform that is driving profitable growth, broadening diversification, and positioning us for long-term success."Key Operating and Financial Metrics

Three Months Ended March 31,
2026
2025
($ in millions)Gross Written Premium$         332.4
$             210.9Net Written Premium101.4
100.3Net Retention31 %
48 %



Total Revenue$          121.5
$              110.3Net Income (Loss) (1)7.1
(47.7)Adjusted Net Income (Loss) (1) (2)17.2
(35.1)Basic Earnings (Loss) per Share (1)0.27
(1.91)Diluted Earnings (Loss) per Share (1)0.27
(1.91)Diluted Adjusted Earnings (Loss) per Share (1) (2)0.65
(1.41)Net Loss Ratio48.0 %
105.9 %Expense Ratio51.5 %
53.3 %Combined Ratio99.5 %
159.2 %




As of
March 31, 2026
December 31, 2025Book Value Per Share (BVPS)$17.23
$16.97Tangible Book Value Per Share (TBVPS) (2)$15.09
$14.76
(1) Attributable to Hippo(2) Indicates non-GAAP financial measure; see "Reconciliation of Non GAAP Financial Measures to Their Most Directly Comparable GAAP Financial
Measures"First Quarter Operating Summary Net income of $7 million, or $0.27 per diluted share, compared to a $48 million net loss in Q1 of last year. The improvement was driven primarily by stronger underwriting performance. The first quarter of 2025 included a $45 million loss from California wildfires, and the absence of a comparable event this period more than offset the reduction in fee income following the sale of the builders distribution network.Adjusted net income of $17 million, or $0.65 a diluted share, compared to a $35 million net adjusted loss in Q1 of last year. This quarter's results equate to a 16% annualized adjusted return on average shareholders equity.Gross written premium of $332 million for the quarter increased 58% year over year, up from $211 million in Q1 of last year. Growth was driven by both the Casualty and Commercial Multi-Peril (CMP) lines which were up 193% and 89% over last year, to $101 million and $96 million, respectively. The overall growth strategy is focused on improving underwriting profitability and reducing volatility, including through greater portfolio diversification. For the quarter, Casualty accounted for 30% of gross written premium, compared to CMP which accounted for 29% and Homeowners which accounted for 26%.Net written premium of $101 million increased by $1 million or 1% from Q1 of last year. Growth in net written premium was lower than the growth in gross written premium due to both a mix shift and a reduction in the Renters line, which contracted by $26 million year over year, on account of a change in retention rate in 2026 vs 2025, and an accompanying unearned premium adjustment related to this change. The 31% net retention rate in the quarter was slightly below our full-year guidance, and driven primarily by the one-time unearned premium adjustment noted above. We expect retention to normalize later in the year, though it may fluctuate quarter to quarter based on growth-related mix shifts.Revenue in the quarter of $122 million increased 10% from $110 million in Q1 of last year. The increase was primarily driven by higher net earned premium up 13% to $99 million, which more than offset a $5.5 million decline in commissions following the sale of our homebuilder distribution network in Q3'25.Net Loss ratio of 48.0% improved 58 percentage points over the prior year. This improvement was driven primarily by lower CAT losses this quarter compared to Q1 of last year, which was impacted by the California wildfires. The net accident year loss ratio excluding CAT losses of 46.3% improved by 2 percentage points over the  Q1 of last year.Expense ratio of 51.5% improved 2 percentage points over the prior year period driven by continued improvement of operating leverage, and despite prior year period benefiting from roughly 4.5 percentage point of profits generated by the homebuilder distribution network we sold in Q3'25.Combined ratio of 99.5% improved 60 percentage points over the prior year, similarly driven by stronger underwriting performance and a lower expense ratio noted above.Total Hippo shareholder equity of $449 million, or $17.23 per share, at March 31, 2026, was up 2%, from $436 million, or $16.97 per share, at year-end 2025. The increase was primarily driven by the first quarter net income.Guidance Update The following Guidance update is based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under "Forward-looking statements safe harbor" below.
Prior
Updated


2026 FY
Guidance
2026 FY
Guidance



Gross Written Premium$1.4 - 1.5B
$1.45 - $1.525B

Net Written Premium$500 - $540M
$520 - $550M

Revenue

$560 - $570M

Combined Ratio103% - 105%
103% - 105%

CAT Loss Ratio13 %
13 %

Adjusted Net Income (Loss)(1)$45 - $55M
$48 - $56M

Stock-based compensation + Depreciation and Amortization$41M
$42M


(1) Indicates non-GAAP financial measure; see "Reconciliation of Non GAAP Financial Measures to Their Most Directly Comparable GAAP Financial Measures"First Quarter Earnings Conference Call and Webcast Information 
Date: Thursday, April 30, 2026
Time: 8:00 a.m. Eastern Time / 5:00 a.m. Pacific Time
Dial In: +1 833 470 1428 / Global Dial-In Numbers
Access: 433055350
Webcast: https://events.q4inc.com/attendee/433055350A replay of the webcast will be made available after the call in the investor relations section of the company's website at https://investors.hippo.com/About HippoHippo is a technology-native insurance group that uses its carrier platform to diversify risk across both personal and commercial lines. Through the Hippo Homeowners Insurance Program, the company applies deep industry expertise and advanced underwriting to deliver proactive, tailored coverage for homeowners. Hippo Holdings Inc. subsidiaries include Hippo Insurance Services, Spinnaker Insurance Company, Spinnaker Specialty Insurance Company, and Wingsail Insurance Company. Hippo Insurance Services is a licensed property casualty insurance agent with products underwritten by various affiliated and unaffiliated insurance companies. For more information, please visit http://www.hippo.com.                           Consolidated Balance Sheet
(in millions, unaudited)

March 31,
2026
December 31,
2025
(unaudited)

Assets


Investments:


Fixed maturities available-for-sale, at fair value (amortized cost: $299.3 million
and $291.7 million, respectively)$          298.7
$         293.4Short-term investments, at fair value (amortized cost: $125.3 million and $152.5
million, respectively)125.2
152.5Total investments423.9
445.9Cash and cash equivalents275.4
218.3Restricted cash29.4
31.8Accounts receivable, net of allowance of $0.3 million and $0.2 million, respectively282.1
250.1Reinsurance recoverable on paid and unpaid losses and LAE398.1
346.6Prepaid reinsurance premiums386.7
353.7Ceding commissions receivable132.8
98.7Capitalized internal use software42.3
43.0Intangible assets13.6
13.8Other assets77.6
103.6Total assets$         2,061.9
$        1,905.5Liabilities and stockholders' equity


Liabilities:


Loss and loss adjustment expense reserve$          482.6
$         420.4Unearned premiums615.3
579.7Reinsurance premiums payable356.3
304.4Provision for commission39.3
36.3Surplus note47.9
47.9   Accrued expenses and other liabilities71.8
80.7Total liabilities1,613.2
1,469.4Commitments and contingencies (Note 12)


Stockholders' equity:


Common stock, $0.0001 par value per share; 80,000,000 shares authorized as of
March 31, 2026 and December 31, 2025; 26,035,917 and 25,699,704 shares issued
and outstanding as of March 31, 2026 and December 31, 2025, respectively—
—Additional paid-in capital1,659.4
1,651.5Accumulated other comprehensive (loss) income(0.6)
1.8Accumulated deficit(1,210.1)
(1,217.2)Total stockholders' equity448.7
436.1Total liabilities and stockholders' equity$         2,061.9
$        1,905.5 Consolidated Statement of Operations
(in millions, unaudited)

Three Months Ended March 31,
2026
2025



Revenue:


Net earned premium$           98.9
$           87.3Commission income, net12.7
14.4Service and fee income3.2
2.8Net investment income6.7
5.8Total revenue121.5
110.3Expenses:


Losses and loss adjustment expenses47.5
92.4Insurance related expenses34.9
30.2Technology and development expenses9.4
8.1Sales and marketing expenses6.3
8.9General and administrative expenses16.2
16.5Interest and other (income) expense, net—
(0.2)Total expenses114.3
155.9Income (loss) before income taxes7.2
(45.6)Income tax expense (benefit)0.1
(0.2)Net income (loss)7.1
(45.4)Net income attributable to noncontrolling interests, net of tax—
2.3Net income (loss) attributable to Hippo$             7.1
$          (47.7)Other comprehensive income (loss):


Change in net unrealized gain (loss) on investments, net of tax(2.4)
2.1Comprehensive income (loss) attributable to Hippo$            4.7
$          (45.6)



Per share data:


Net income (loss) attributable to Hippo - basic and diluted$             7.1
$          (47.7)Weighted-average shares used in computing net income (loss) per
share attributable to Hippo


Basic25,840,004
24,978,901Diluted26,354,271
24,978,901Net income (loss) per share attributable to Hippo


Basic$           0.27
$           (1.91)Diluted$           0.27
$           (1.91) Consolidated Statement of Cash Flow 
(in millions, unaudited)

Three Months Ended March 31,
2026
2025Cash flows from operating activities:


Net cash provided by (used in) operating activities$            8.5
$          (35.6)Cash flows from investing activities:


Capitalized internal use software costs(3.1)
(2.8)Purchases of property and equipment(0.1)
(0.1)Purchases of fixed maturities(29.4)
(15.7)Maturities of fixed maturities20.9
11.2Sales of fixed maturities1.1
—Purchases of short-term investments(65.3)
(50.4)Maturities of short-term investments91.4
46.8Sales of short-term investments2.0
—Proceeds from deferred consideration25.0
—Net cash provided by (used in) investing activities42.5
(11.0)Cash flows from financing activities:


Taxes paid related to net share settlement of equity awards—
(3.3)Proceeds from issuance of common stock1.0
1.0Payments of contingent consideration—
(0.2)Distributions to noncontrolling interests—
(2.5)Other2.7
(1.0)Net cash provided by (used in) financing activities3.7
(6.0)



Net increase (decrease) in cash, cash equivalents, and restricted cash54.7
(52.6)Cash, cash equivalents, and restricted cash at the beginning of the period250.1
232.8Cash, cash equivalents, and restricted cash at the end of the period$         304.8
$          180.2 RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO THEIR MOST DIRECTLYCOMPARABLE GAAP FINANCIAL MEASURES(in millions, unaudited)
Adjusted Net Income (Loss)

Three Months Ended March 31,
2026
2025



Net income (loss) attributable to Hippo$              7.1
$           (47.7)Adjustments:


Depreciation and amortization4.8
5.6Stock-based compensation6.5
7.7Fair value adjustments—
(0.5)Other one-off transactions(1.2)
(0.2)Adjusted net income (loss)$            17.2
$           (35.1) Diluted Adjusted Earnings (Loss) per Share

Three Months Ended March 31,
2026
2025



Adjusted net income (loss)$           17.2
$          (35.1)Weighted-average common shares
outstanding, diluted26,354,271
24,978,901Diluted Adjusted Earnings (Loss) per Share$           0.65
$           (1.41) Annualized Adjusted Return on Equity

Three Months Ended March 31,
2026
2025



Annualized Adjusted net income (loss)$        68.8
$      (140.4)Average Hippo Stockholders' Equity442.4
342.5Annualized Adjusted Return on Equity16 %
(41) % Tangible Book Value Per Share

As of March 31, 2026
As of December 31, 2025Hippo Stockholders' Equity$                         448.7
$                           436.1Less: Intangible assets13.6
13.8Less: Capitalized Internal Use Software$                           42.3
$                            43.0Tangible stockholders' equity$                         392.8
$                           379.3Shares outstanding26,035,917
25,699,704Tangible book value per share$                          15.09
$                           14.76 SUPPLEMENTAL FINANCIAL INFORMATION
(in millions, unaudited)


Net Loss, Expense, and Combined Ratio



Three Months Ended March 31,

2026
2025
Net Earned Premium$          98.9
$          87.3





Catastrophe losses4.3
53.4
Non-catastrophe losses43.2
39.0
Loss and loss adjustment expenses$        47.5
$        92.4
Catastrophe losses ratio4.3 %
61.2 %
Non-catastrophe losses ratio43.7 %
44.7 %
Net loss ratio48.0 %
105.9 %
Insurance related expenses$        34.9
$        30.2
Technology and development9.4
8.1
Sales and marketing6.3
8.9
General and administrative16.2
16.5
Less: commission income, net and service and(15.9)
(17.2)
Total net expenses$        50.9
$        46.5
Expense Ratio51.5 %
53.3 %
Combined Ratio99.5 %
159.2 %





Prior accident year developments



Loss and loss adjustment expenses(2.5)
(3.1)
Net loss ratio(2.6) %
(3.6) %
Net accident year loss ratio50.6 %
109.5 %
Net accident year loss ratio x catastrophe46.3 %
48.3 %
 Gross and Net Loss Ratio

Three Months Ended March 31,
2026
2025Gross Losses and LAE$         147.2
$          211.8Gross Earned Premium297.3
222.8Gross Loss Ratio49.5 %
95.1 %Net Losses and LAE$          47.5
$          92.4Net Earned Premium98.9
87.3Net Loss Ratio48.0 %
105.9 %Underwriting DataThe Company has a single reportable segment and offers property & casualty insurance products. Gross written premiums (GWP), Net written premiums (NWP), and Net earned premiums (NEP) by line of business are presented below:Gross Written Premium (GWP) by State

Three Months Ended March 31,
2026
2025
Amount
% of GWP
Amount
% of GWPState






California$      66.0
19.9 %
$      46.0
21.8 %New York44.2
13.3 %
12.2
5.8 %Florida42.9
12.9 %
32.0
15.2 %Texas36.2
10.9 %
26.0
12.3 %Illinois12.9
3.8 %
6.0
2.8 %Georgia9.7
2.9 %
5.6
2.7 %Ohio7.2
2.2 %
4.6
2.2 %Colorado7.0
2.1 %
4.5
2.1 %New Jersey6.6
2.0 %
4.2
2.0 %Arizona6.5
2.0 %
4.3
2.0 %Other93.2
28.0 %
65.5
31.1 %Total$    332.4
100.0 %
$     210.9
100 % Gross Written Premium (GWP) by Line of Business

Three Months Ended March 31,




2026
2025




Amount
% of
GWP
Amount
% of
GWP
Change
% ChangeLine of Business










Homeowners$    87.3
26 %
$    87.1
41 %
$      0.2
0.2 %Renters40.8
12 %
35.0
17 %
5.8
16.6 %Commercial Multi-Peril95.8
29 %
50.7
24 %
45.1
89.0 %Casualty100.6
30 %
34.3
16 %
66.3
193.3 %Other7.9
3 %
3.8
2 %
4.1
107.9 %Total$  332.4
100 %
$  210.9
100 %
$    121.5
57.6 % Net Written Premium (NWP) by Line of Business

Three Months Ended March 31,




2026
2025




Amount
% of
NWP
Amount
% of
NWP
Change
%
ChangeLine of Business










Homeowners$   60.8
60 %
$    52.7
52.5 %
$      8.1
15.4 %Renters10.8
11 %
37.2
37.1 %
(26.4)
(71.0) %Commercial Multi-Peril17.6
17 %
12.5
12.5 %
5.1
40.8 %Casualty12.9
13 %
1.1
1.1 %
11.8
1072.7 %Other(0.7)
(1) %
(3.2)
(3.2) %
2.5
(78.1) %Total$   101.4
100 %
$  100.3
100.0 %
$      1.1
1.1 % Net Earned Premium (NEP) by Line of Business

Three Months Ended March 31,




2026
2025




Amount
% of
NEP
Amount
% of
NEP
Change
%
ChangeLine of Business










Homeowners$    62.7
63.4 %
$    61.6
70.6 %
$      1.1
1.8 %Renters17.0
17.2 %
16.6
19.0 %
0.4
2.4 %Commercial Multi-Peril15.9
16.1 %
6.6
7.6 %
9.3
140.9 %Casualty3.2
3.2 %
0.5
0.6 %
2.7
540.0 %Other0.1
0.1 %
2.0
2.2 %
(1.9)
(95.0) %Total$    98.9
100.0 %
$    87.3
100.0 %
$     11.6
13.3 %Information about Key Operating Metrics/Non-GAAP Financial MeasuresWe define adjusted net income, a Non-GAAP financial measure, as net income excluding the impact of certain items that may not be indicative of underlying business trends, operating results, or future outlook, net of tax impact. We calculate the tax impact only on adjustments which would be included in calculating our income tax expense using the estimated tax rate at which the company received a deduction for these adjustments. We use adjusted net income as an internal performance measure in the management of our operations because we believe it gives our management and financial statement users useful insight into our results of operations and our underlying business performance. Adjusted net income does not reflect the overall profitably of our business and should not be viewed as a substitute for net income calculated in accordance with GAAP. Other companies may define adjusted net income differently.We define diluted adjusted earnings (loss) per share, a Non-GAAP financial measure, as adjusted net income divided by the weighted-average common shares outstanding for the period, reflecting the dilution which could occur if equity-based awards are converted into common share equivalents as calculated using the treasury stock method. Diluted adjusted earnings (loss) per share should not be viewed as a substitute for diluted earnings (loss) per share calculated in accordance with GAAP. Other companies may define diluted adjusted earnings (loss) per share differently.We define annualized adjusted return on equity, a Non-GAAP financial measure, as adjusted net income (loss) expressed on an annualized basis as a percentage of average beginning and ending Hippo stockholders' equity during the period. We use annualized adjusted return on equity as an internal performance measure in the management of our operations because we believe it gives our management and financial statement users useful insight into our results of operations and our underlying business performance. Annualized adjusted return on equity should not be viewed as a substitute for return on equity calculated in accordance with GAAP. Other companies may define annualized adjusted return on equity differently.We define tangible book value per share, a Non-GAAP financial measure, as total stockholders' equity, less intangible assets, divided by the outstanding number of shares of our common stock at the end of the relevant period. Our definition of tangible book value per share may not be comparable to that of other companies, and it should not be viewed as a substitute for book value per share calculated in accordance with GAAP. We use tangible book value per share internally to evaluate changes from period to period in book value per share exclusive of changes in intangible assets.These Non-GAAP financial measures are in addition to, and not a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with GAAP. Reconciliations of these Non-GAAP financial measures to their most directly comparable GAAP counterpart is included above. We believe that these non-GAAP measures of financial results provide useful supplemental information to investors about Hippo.             Cautionary Note Regarding Forward-Looking StatementsCertain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding the financial position, business strategy, and the plans and objectives of management for Hippo Holdings Inc. (together with its subsidiaries, "Hippo," the "Company," "we," "us" and "our") for future operations. These statements constitute projections, forecasts, and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts.Forward-looking statements generally are accompanied by words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "future," "intend," "may," "might," "outlook," "plan," "possible," "potential," "predict," "project," "seek," "seem," "should," "strive," "will," "would," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking.Forward-looking statements in this press release include, for example, statements about:our future results of operations and financial condition, including estimates and forecasts of financial and operating results and performance metrics, and our ability to attain and maintain profitability;our business strategy, including our cost reduction efforts, our diversified distribution strategy, and our plans to expand into new markets and new products;our ability to grow our business and, if such growth occurs, to effectively manage such growth, including the growth and development of our builder network and other distribution channels;customer satisfaction and our ability to attract, retain, and expand our customer base;our ability to maintain and enhance our brand and reputation, including the quality of our products and services;our expectations about our book of business, including our ability to cross-sell and to attain greater value from each customer;the effects of seasonal and cyclical trends on our results of operations;our ability to compete effectively in the segments of the insurance industry in which we operate;our ability to underwrite risks accurately and charge competitive yet profitable rates to our customers, and the sufficiency of the analytical models we use to assess and predict exposure to catastrophe losses;our ability to maintain reinsurance contracts and our near- and long-term strategies and expectations with respect to the availability, adequacy, coverage, limits, pricing, and cession of insurance risk;our ability to utilize, develop, and protect our proprietary technology, digital platform, and intellectual property;our ability to leverage our data, technology, and geographic diversity to help manage risk;our ability to expand our product offerings or improve existing ones;our ability to attract and retain personnel, including our officers and key employees;potential harm caused by outages or interruptions in, or delays to, services provided by our third-party providers, including our data vendors;potential harm caused by misappropriation of our data and compromises in cybersecurity, and our ability to receive, process, store, use, and share data in compliance with laws and regulations related to data privacy and data security;potential harm caused by changes in internet search engines' methodologies;our denial of claims or our failure to accurately and timely pay claims;the effects of severe weather events and other natural or man-made catastrophes, including the effects of climate change, global pandemics, and terrorism;any overall decline in economic activity;regulators' identification of errors in the policy forms we use, the rates we charge, and our customer communications, including cancellations, non-renewals, and reinstatements, through market conduct exams, complaints, or other inquiries;our ability to navigate extensive insurance industry regulations and the scrutiny of state insurance regulators, and the effects of existing or new legal or regulatory requirements on our business, including with respect to maintenance of risk-based capital and financial strength ratings, the insurance industry generally, and data privacy and cybersecurity, in the United States and internationally;our expected use of cash on our balance sheet, our future capital needs, and our ability to raise additional capital;fluctuations in our results of operations and operating metrics; andour public securities' liquidity and trading.These statements are based on the current expectations of Hippo's management and are not predictions of actual performance. You should not rely upon forward-looking statements as predictions of future events. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions, and many actual events and circumstances are beyond the control of Hippo. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we cannot guarantee that the future results, levels of activity, performance, events, and circumstances reflected in the forward-looking statements will be achieved or occur at all.These forward-looking statements are subject to a number of risks, uncertainties, and other factors, including those described above and other risks set forth in the sections entitled "Risk Factors" in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, and in other documents that may be filed by the Company from time to time with the Securities and Exchange Commission (the "SEC"). Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Hippo does not presently know or that Hippo currently believes are immaterial that could also cause actual results, events, or circumstances to differ materially from those described in the forward-looking statements.These forward-looking statements are based on information available as of the date of this press release and reflect Hippo's expectations, plans, forecasts, and views of future events as of that date. Accordingly, forward-looking statements should not be relied upon as representing Hippo's views as of any subsequent date, and Hippo does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. While Hippo may elect to update these forward-looking statements at some point in the future, Hippo specifically disclaims any obligation to do so. Accordingly, undue reliance should not be placed upon the forward-looking statements.RoundingCertain monetary amounts, percentages, and other figures included in this release have been subject to rounding adjustments. The sum of individual metrics may not always equal total amounts indicated due to rounding.Contacts
Investors:
Charles Sebaski
Investors@hippo.comPress:
Mark Olson
press@hippo.com 



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Original: Hippo Reports First Quarter 2026 Financial Results

Hippo Appoints its EVP & Chief Strategy Officer Stewart Ellis to Its Board of DirectorsApril 22, 2026 6:12 PM
PR Newswire (US)

SAN JOSE, Calif., April 22, 2026 /PRNewswire/ -- Hippo (NYSE: HIPO) today announced the appointment of its current Executive Vice President and Chief Strategy Officer and former Chief Financial Officer, Stewart Ellis, to the Company's Board of Directors effective June 3rd, 2026. In connection with his transition to a Board role, Mr. Ellis will resign from his current position and become a consultant to the Company, effective May 1st, 2026.







"Stewart has been an invaluable member of the Hippo leadership team for the past seven years," said Rick McCathron, President and CEO of Hippo. "During that time, he built a world-class finance team, oversaw our transition from a private to public company, led several strategic acquisitions and divestitures, and was a core partner to both me and the Board in defining our vision and strategy. I could not be more excited that Stewart wants to continue to be part of what we are building at Hippo."Before joining Hippo as its Chief Financial Officer in 2019, Mr. Ellis served as Chief Financial Officer at Activehours (d/b/a Earnin), a mobile fintech company, from April 2017 to February 2019; as Chief Financial Officer at BloomReach, Inc., an enterprise software company, from July 2012 to April 2017; and as Vice President, Finance, and other roles, of 23andMe, Inc. from September 2008 to July 2012. Mr. Ellis holds a bachelor's degree with a concentration in Economics from Harvard College and an MBA from Harvard Business School, where he was a George F. Baker Scholar."Working with Hippo's leadership team over the past seven years to build the Company into what it is today has been one of the highlights of my career," said Mr. Ellis. "As we continue building toward our long-term vision, I'm thrilled to join my colleagues on Hippo's Board to support that journey."About Hippo
Hippo is a technology-native insurance group that uses its carrier platform to diversify risk across both personal and commercial lines. Through the Hippo Homeowners Insurance Program, the company applies deep industry expertise and advanced underwriting to deliver proactive, tailored coverage for homeowners. Hippo Holdings Inc. subsidiaries include Hippo Insurance Services, Spinnaker Insurance Company, Spinnaker Specialty Insurance Company, and Wingsail Insurance Company. Hippo Insurance Services is a licensed property casualty insurance agent with products underwritten by various affiliated and unaffiliated insurance companies. For more information, please visit http://www.hippo.com.ContactsInvestors:
Charles Sebaski
investors@hippo.comPress:
Mark Olson
press@hippo.com










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Original: Hippo Appoints its EVP & Chief Strategy Officer Stewart Ellis to Its Board of Directors

Hippo Transforms Claims Workflow with AI, Unlocking Scale and Efficiency with Its Modern Tech StackApril 8, 2026 7:00 AM
PR Newswire (US)

With Clara, Hippo's FNOL Voice Agent, Over 70% of Homeowners Claims Are Expected to Be Filed DigitallySAN JOSE, Calif., April 8, 2026 /PRNewswire/ -- Hippo Holdings (NYSE: HIPO) today announced a major milestone in its claim's transformation with the rollout of its scalable, AI-driven claims workflow. This initiative marks a foundational shift toward a more efficient, and responsive claims operation—led by a fully digital first notice of loss (FNOL) experience that blends advanced AI with human expertise and compassion to drive proactive communication and faster decisions for homeowners.







"We've reimagined our claims operation from intake through resolution, moving from legacy systems to a unified platform that enables faster workflows, clearer communication, and more consistent outcomes for homeowners at scale," said Peter Piotrowski, Chief Claims Officer at Hippo. "By embedding AI across the claims lifecycle, we're improving accuracy and freeing adjusters to focus on the most complex cases where empathy and judgment matter most, balancing technology with human care to deliver a better experience."AI-Native Claims: From FNOL to ResponseCentral to this transformation is "Clara from Claims," a 24/7 conversational AI agent that enables a fully digital, always-on FNOL experience by capturing and structuring claim data in real time, flagging inconsistencies, and routing claims intelligently to accelerate resolution. With the introduction of Clara, Hippo expects more than 70% of claims to be filed digitally.Agentic AI is now embedded across the claims lifecycle, supporting triage, subrogation screening, special investigation unit flagging, document review, customer communications, and claim summaries. Since deployment, these capabilities have improved operational efficiency while enhancing the customer experience, with initial contact now occurring in under two hours on average. Based on internal modeling, Hippo expects its current staffing structure could support a 30–35% increase in claims volume—reducing the need for additional headcount as the company scales.Modernization also enables digital and aerial adjudication at scale. Aerial imagery and roof measurements support remote estimating, reducing the need for on-site inspections. Virtual inspections further streamline the process, enabling faster payments—particularly during catastrophe events."Our vision is a claims operation powered by an agentic AI workforce supporting adjusters on everything from first notice through adjudication and audit," said Kyle Ramsay, Chief Product Officer and Chairman of Hippo's AI Committee. "We've delivered a new architecture where AI helps manage the volume, and our people focus on judgment. This is how the future of insurance will operate—and we're excited to bring it to life."About Hippo 
Hippo is a technology-native insurance group that uses its carrier platform to diversify risk across both personal and commercial lines. Through the Hippo Homeowners Insurance Program, the company applies deep industry expertise and advanced underwriting to deliver proactive, tailored coverage for homeowners. Hippo Holdings Inc. subsidiaries include Hippo Insurance Services, Spinnaker Insurance Company, Spinnaker Specialty Insurance Company, and Wingsail Insurance Company. Hippo Insurance Services is a licensed property casualty insurance agent with products underwritten by various affiliated and unaffiliated insurance companies. For more information, please visit http://www.hippo.com.Contact:
Mark Olson
press@hippo.com



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Original: Hippo Transforms Claims Workflow with AI, Unlocking Scale and Efficiency with Its Modern Tech Stack

Hippo Reports Fourth Quarter 2025 Financial ResultsFebruary 25, 2026 7:00 AM
PR Newswire (US)

SAN JOSE, Calif., Feb. 25, 2026 /PRNewswire/ -- Hippo Holdings Inc. (NYSE: HIPO), a technology-native insurance platform driving growth across owned and partner MGAs, announced its consolidated financial results including diluted earnings per share of $0.23 and diluted adjusted earnings per share of $0.67 for the quarter ended December 31, 2025.







Fourth Quarter HighlightsGross Written Premium increased 40% to $288 million over 4Q24Net Written Premium increased 23% to $97 million over 4Q24Net Income attributable to Hippo of $6 million compared to $44 million in 4Q24Adjusted Net Income attributable to Hippo of $18 million, a 20% increase over 4Q24Net Loss Ratio improved 12 percentage points to 46% compared to 4Q24Combined Ratio improved 8 percentage points to 99% compared to 4Q242025 Full Year HighlightsGross Written Premium increased 24% to $1.1 billion over 2024Net Written Premium increased 13% to $422 million over 2024Net Income attributable to Hippo of $58 million compared to a Net loss of $41 million in 2024Adjusted Net Income attributable to Hippo of $18 million compared to an Adjusted Net loss of $20 million in 2024Net Loss Ratio improved 17 percentage points to 60% compared to 2024Combined Ratio improved 25 percentage points to 113% compared to 2024Book Value per share of $16.97 increased 17% from year-end 2024"We closed 2025 with strong momentum, evidenced by our 40% gross written premium growth, positive net and adjusted income, and an underwriting profit in the fourth quarter," said Rick McCathron, Hippo President and CEO. "Looking ahead to 2026, I am excited about Hippo's prospects for increased diversification, strong growth, and continued improvement in profitability. This progress reflects our team's efforts over the last several years, and is exemplified most recently by the relaunch of our homeowners business outside of builders with select partners. Together, these developments reinforce our confidence in achievement of our targets of over $2 billion of gross written premium and over $125 million of adjusted net income by the end of 2028."Key Operating and Financial Metrics

Three Months EndedDecember 31,
Years Ended December 31,
2025
2024
2025
2024
($ in millions, except in per share figures)Gross Written Premium$ 287.9
$ 205.6
$ 1,108.6
$ 892.4Net Written Premium97.2
79.2
422.3
372.6Net Retention34 %
39 %
38 %
42 %







Total Revenue $ 120.4
$ 102.0
$ 468.6
$ 372.1Net Income (Loss) (1)6.0
44.2
57.7
(40.5)Adjusted Net Income (Loss) (1) (2)17.6
14.7
17.8
(20.3)Basic Earnings (Loss) per Share (1) 0.24
1.78
2.28
(1.64)Diluted Earnings (Loss) per Share (1)0.23
1.71
2.22
(1.64)Diluted Adjusted Earnings (Loss) per Share (1) (2)0.67
0.57
0.68
(0.82)Net Loss Ratio45.9 %
57.7 %
60.1 %
76.8 %Expense Ratio53.5 %
49.2 %
53.0 %
61.0 %Combined Ratio99.4 %
106.9 %
113.1 %
137.8 %








As of December 31, 2025
As of December 31, 2024Book Value Per Share (BVPS)1$16.97
$14.56Tangible Book Value Per Share (TBVPS) (1, 2)$14.76
$11.94



(1)Attributable to Hippo(2)Indicates non-GAAP financial measure; see "Reconciliation of Non GAAP Financial Measures to Their Most Directly Comparable GAAP Financial Measures"Fourth Quarter and Full Year 2025 Operating SummaryNet income in Q4 of $6 million, or $0.23 per diluted share, compared to a $44 million net income in Q4 of last year which included a $46 million one-time gain on sale. The drivers of this improvement included growth and the improved underwriting results. For the full year 2025 net income was $58 million, or $2.22 per diluted share, compared to a $41 million net loss in 2024. The drivers of this improvement included improved underwriting results and the gain on the sale of the home builder distribution network.Adjusted net income of $18 million, or $0.67 per diluted share in Q4, compared to a $15 million adjusted net income Q4 of last year. This quarter's results equate to a 16% annualized adjusted return on average shareholders' equity. For the full year 2025 adjusted net income was $18 million, or $0.68 per diluted share, compared to a $20 million adjusted net loss in 2024. The full year's results equate to a 4% annualized adjusted return on average shareholders' equity.Total Hippo shareholders' equity of $436 million, or $16.97 per share, at December 31, 2025, was up 20%, from $362 million, or $14.56 per share, at year-end 2024. The increase was primarily driven by the gain on sale of our homebuilder distribution network and improved underwriting, which more than off-set the underwriting loss and the share buyback.Gross written premium of $288 million grew by 40% compared to the prior year quarter. Growth was driven primarily by Casualty and Commercial Multi-Peril (CMP) lines which were up 169% and 58% over the prior year period, to $88 million and $65 million, respectively. This expansion more than off-set a 5%, or $5 million, reduction in the Homeowners line year over year. For full year 2025, gross written premium expanded by 24% over the prior year to $1.1 billion. This growth was led by Casualty up 92% over the prior year to $264 million, and CMP up 75% over the prior year to $265 million, making CMP the second largest line of business after Homeowners which was down 10% to $379 million for the year. The overall growth strategy is focused on underwriting profitability and reduced volatility, which includes increased portfolio diversification. For the year, Homeowners, the largest line on a gross written premium basis, accounted for 34% of the total, down from 47% in the prior year, while CMP accounted for 24% of GWP in the quarter compared to 17% in 2024.Net written premium for the quarter of $97 million grew by $18 million or 23% from Q4 of last year. The main driver of this growth was the Renters and CMP lines, which grew by $13 million and $4 million, respectively year over year. Net written premium for the year of $422 million grew by $50 million or 13% over last year. The main driver of this growth was Renters which grew by $76 million and CMP lines which grew by $37 million, more than off-setting the $52 million contraction in Homeowners.Net loss ratio in the quarter of 46% represented a 12 percentage points improvement over the prior year quarter. This improvement was driven primarily by the lack of meaningful catastrophe (CAT) losses in the quarter compared to Q4 of last year. The net accident year loss ratio excluding CAT losses of 46% was a 9 percentage points improvement over the 54% in Q4 of last year. Net loss ratio of 60% for the full year was a 17 percentage points improvement over the prior year. This improvement was driven by both lower CAT loss and non-CAT losses compared to 2024. The net accident year loss ratio excluding CAT losses of 48% improved by over 10 percentage points over 58% in Q4 of last year.Combined ratio of 99% for the quarter improved 8 percentage points over the prior year, similarly benefitting from improved underwriting results more than off-setting slightly elevated expenses. This change in expenses primarily resulted from the home builder network sale and one-time CAT allowance chargeback in 4Q24. For full year 2025 a combined ratio of 113% was improved by 25 points compared to 138% in 2024, driven by a 17 percentage point lower loss ratio and a 8 percentage point lower expense ratio.Net income was $6 million for the fourth quarter compared to $44 million in the prior year quarter which benefited from a $46 million gain on the sale of First Connect. For the full year 2025 net income was $58 million including a $91 million net gain on the sale of the Home Builder Distribution Network compared to a net loss of $41 million in 2024.2026 Guidance The following Guidance update is based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under "Forward-looking statements safe harbor" below.
2025 Actual
2026 FYGuidance(1)

Gross Written Premium$1.1B
$1.4 - $1.5BNet Written Premium$422M
$500 - $540MCombined Ratio 113 %
103% - 105%CAT Loss Ratio15 %
13 %Adjusted Net Income (Loss)$18M
$45 - $55MStock-based compensation + Depreciation and Amortization$50M
$41MFourth Quarter Earnings Conference Call and Webcast Information
Date: Wednesday Feb 25, 2026
Time: 8:00 a.m. Eastern Time / 5:00 a.m. Pacific Time
Dial In: +1 833 470 1428 / Global Dial-In Numbers
Access: 703997
Webcast: https://events.q4inc.com/attendee/971517166A replay of the webcast will be made available after the call in the investor relations section of the company's website at https://investors.hippo.com/About HippoHippo is a technology-enabled insurance group that uses its carrier platform to diversify risk across both personal and commercial lines. Through the Hippo Homeowners Insurance Program, the company applies deep industry expertise and advanced underwriting to deliver proactive, tailored coverage for homeowners. Hippo Holdings Inc. subsidiaries include Hippo Insurance Services, Spinnaker Insurance Company, Spinnaker Specialty Insurance Company, and Wingsail Insurance Company. Hippo Insurance Services is a licensed property casualty insurance agent with products underwritten by various affiliated and unaffiliated insurance companies. For more information, please visit http://www.hippo.com.Consolidated Balance Sheet(in millions, unaudited)

December 31,
2025
2024



Assets


Investments:


Fixed maturities available-for-sale, at fair value (amortized cost: $291.7 and $208.3)$ 293.4
$ 205.7Short-term investments, at fair value (amortized cost: $152.5 and $167.6)152.5
167.6Total investments445.9
373.3Cash and cash equivalents218.3
197.6Restricted cash31.8
35.2Accounts receivable, net of allowance of $0.2 and $0.6250.1
167.0Reinsurance recoverable on paid and unpaid losses and loss adjustment expenses346.6
285.3Prepaid reinsurance premiums353.7
274.2Ceding commissions receivable98.7
79.5Capitalized internal use software43.0
48.1Intangible assets13.8
17.0Other assets103.6
66.2Total assets$ 1,905.5
$ 1,543.4Liabilities and stockholders' equity


Liabilities:


Losses and loss adjustment expense reserve$ 420.4
$ 350.0Unearned premiums579.7
457.9Reinsurance premiums payable304.4
248.6Provision for commission 36.3
34.3Surplus note47.9
— Accrued expenses and other liabilities80.7
87.4Total liabilities1,469.4
1,178.2Commitments and contingencies (Note 13)


Stockholders' equity:


Common stock, $0.0001 par value; 80,000,000 shares authorized as of bothDecember 31, 2025 and 2024; 25,699,704 and 24,866,803 shares issued and outstandingas of December 31, 2025 and 2024, respectively—
—Additional paid-in capital1,651.5
1,639.7Accumulated other comprehensive income (loss)1.8
(2.7)Accumulated deficit(1,217.2)
(1,274.9)Total Hippo stockholders' equity436.1
362.1Noncontrolling interest—
3.1Total stockholders' equity436.1
365.2Total liabilities and stockholders' equity$ 1,905.5
$ 1,543.4 Consolidated Statement of Operations and Comprehensive Income (Loss)(in millions, except share and per share data, unaudited)

Three Months EndedDecember 31,
Year Ended December 31,
2025
2024
2025
2024







Revenue:






Net earned premium$ 99.1
$ 77.0
$ 380.1
$ 272.5Commission income, net11.7
15.9
51.3
63.6Service and fee income3.0
2.8
11.8
11.6Net investment income6.6
6.3
25.4
24.4Total revenue120.4
102.0
468.6
372.1Expenses:






Losses and loss adjustment expenses45.5
44.4
229.9
209.0Insurance related expenses35.4
20.9
131.3
88.8Technology and development expenses8.3
7.6
32.5
30.7Sales and marketing expenses7.3
10.9
33.5
51.2General and administrative expenses16.7
17.2
67.1
70.7Impairment and restructuring charges—
—
5.0
3.6Gain on sale of business—
(46.1)
(95.0)
(54.4)Interest and other (income) expense, net0.4
—
1.0
(0.1)Total expenses113.6
54.9
405.3
399.5Income (loss) before income taxes6.8
47.1
63.3
(27.4)Income tax expense 0.8
0.1
0.7
1.2Net income (loss)6.0
47.0
62.6
(28.6)Net income attributable to noncontrolling interests, net of tax—
2.8
4.9
11.9Net income (loss) attributable to Hippo $ 6.0
$ 44.2
$ 57.7
$ (40.5)Other comprehensive income (loss):






Change in net unrealized gain (loss) on investments, net of tax0.4
(3.2)
4.5
0.2Comprehensive income (loss) attributable to Hippo$ 6.4
$ 41.0
$ 62.2
$ (40.3)







Per share data:






Net income (loss) attributable to Hippo - basic and diluted$ 6.0
$ 44.2
$ 57.7
$ (40.5)Weighted average shares used in computing net income (loss) per share attributable to Hippo






Basic25,503,339
24,865,591
25,253,520
24,699,913Diluted26,245,980
25,889,665
26,011,391
24,699,913Net income (loss) per share attributable to Hippo






Basic$ 0.24
$ 1.78
$ 2.28
$ (1.64)Diluted$ 0.23
$ 1.71
$ 2.22
$ (1.64) RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO THEIR MOST DIRECTLY COMPARABLE GAAP FINANCIAL MEASURES(in millions, except share and per share data, unaudited)
Adjusted Net Income (Loss)

Three Months EndedDecember 31,
Year Ended December 31,
2025
2024
2025
2024







Net income (loss) attributable to Hippo$ 6.0
$ 44.2
$ 57.7
$ (40.5)Adjustments:






Depreciation and amortization4.8
5.8
20.4
23.2Stock-based compensation6.7
8.9
29.3
38.2Fair value adjustments(0.4)
(0.5)
(0.6)
1.7Other one-off transactions0.5
2.4
1.0
7.9Impairment and restructuring —
—
5.0
3.6Gain on sale of a business—
(46.1)
(95.0)
(54.4)Adjusted net income (loss)$ 17.6
$ 14.7
$ 17.8
$ (20.3) Diluted Adjusted Earnings (Loss) per Share

Three Months EndedDecember 31,
Year Ended December 31,
2025
2024
2025
2024







Adjusted net income (loss)$ 17.6
$ 14.7
$ 17.8
$ (20.3)Weighted-average common shares outstanding, diluted26,245,980
25,889,665
26,011,391
24,699,913Diluted Adjusted Earnings (Loss) per Share$ 0.67
$ 0.57
$ 0.68
$ (0.82) Annualized Adjusted Return on Equity

Three Months EndedDecember 31,
Year Ended December 31,
2025
2024
2025
2024







Annualized adjusted net income (loss)$ 70.4
$ 58.8
$ 17.8
$ (20.3)Average Hippo Stockholders' Equity428.8
344.3
399.1
370.0Annualized Adjusted Return on Equity16 %
17 %
4 %
(5) % Tangible Book Value Per Share

As of December 31, 2025
As of December 31, 2024Hippo Stockholders' Equity436.1
362.1Less: Intangible assets13.8
17.0Less: Capitalized internal use software43.0
48.1Tangible stockholders' equity$ 379.3
$ 297.0Shares outstanding25,699,704
24,866,803Tangible book value per share$ 14.76
$ 11.94 SUPPLEMENTAL FINANCIAL INFORMATION(in millions, unaudited)
Net Loss, Expense, and Combined Ratio

Three Months EndedDecember 31,
Year Ended December 31,
2025
2024
2025
2024Net Earned Premium$ 99.1
$ 77.0
$ 380.1
$ 272.5







Catastrophe losses(1.0)
4.8
61.5
58.0Non-catastrophe losses46.5
39.6
168.4
151.0Loss and loss adjustment expenses$ 45.5
$ 44.4
$ 229.9
$ 209.0Catastrophe losses ratio(1.0) %
6.2 %
15.4 %
21.3 %Non-catastrophe losses ratio46.9 %
51.4 %
44.7 %
55.5 %Net loss ratio45.9 %
57.7 %
60.1 %
76.8 %Insurance related expenses$ 35.4
$ 20.9
$ 131.3
$ 88.8Technology and development expenses8.3
7.6
32.5
30.7Sales and marketing expenses7.3
10.9
33.5
51.2General and administrative expenses16.7
17.2
67.1
70.7Less: commission income, net and service and fee income(14.7)
(18.7)
(63.1)
(75.2)Total net expenses$ 53.0
$ 37.9
$ 201.3
$ 166.2Expense Ratio53.5 %
49.2 %
53.0 %
61.0 %Combined Ratio99.4 %
106.9 %
113.1 %
137.8 %







Prior accident year developments






Loss and loss adjustment expenses1.1
(2.1)
(9.5)
(6.1)Net loss ratio1.0 %
(2.7) %
(3.0) %
(2.0) %Net accident year loss ratio44.9 %
60.4 %
63.1 %
78.8 %Net accident year loss ratio x catastrophe 45.9 %
54.2 %
47.7 %
57.5 % Gross and Net Loss Ratio

Three Months EndedDecember 31,
Year Ended December 31,
2025
2024
2025
2024Gross Losses and LAE$134.8
$99.5
$535.0
$450.3Gross Earned Premium272.6
221.5
986.9
853.7Gross Loss Ratio49 %
45 %
54 %
53 %







Net Losses and LAE$45.5
$44.4
$229.9
$209.0Net Earned Premium$99.1
$77.0
$380.1
$272.5Net Loss Ratio46 %
58 %
60 %
77 %Underwriting DataThe Company has a single reportable segment and offers property & casualty insurance products. Gross written premiums (GWP) by largest states, and the Gross written premiums (GWP), Net written premiums (NWP), and Net earned premiums (NEP) by line of business are presented below:Gross Written Premium (GWP) by State

Three Months Ended December 31,
Years Ended December 31,
2025
2024
2025
2024
Amount
% ofGWP
Amount
% ofGWP
Amount
% ofGWP
Amount
% ofGWPState














California$ 65.4
23 %
$ 47.6
23 %
224.9
20 %
$ 201.1
23 %Florida30.9
11 %
25.6
12 %
149.8
14 %
115.1
13 %Texas32.1
11 %
29.0
14 %
131.3
12 %
128.1
14 %New York35.4
12 %
10.9
5 %
100.4
9 %
34.1
4 %Illinois11.5
4 %
6.5
3 %
35.5
3 %
27.8
3 %Georgia6.1
2 %
5.0
2 %
29.1
3 %
24.5
3 %Massachusetts5.5
2 %
5.2
3 %
26.0
2 %
25.3
3 %Colorado6.8
2 %
5.0
2 %
23.6
2 %
18.9
2 %North Carolina4.2
1 %
3.9
2 %
22.5
2 %
19.1
2 %South Carolina3.7
1 %
4.3
2 %
22.2
2 %
24.8
3 %Other86.3
31 %
62.6
32 %
343.3
31 %
273.6
30 %Total$ 287.9
100 %
$ 205.6
100 %
$ 1,108.6
100 %
$ 892.4
100 % Gross Written Premium (GWP) by Line of Business

Three Months Ended December 31,




2025
2024




Amount
% ofGWP
Amount
% ofGWP
Change
%
ChangeLine of Business










Homeowners$ 91.0
31.6 %
$ 96.1
46.7 %
(5.1)
(5.3) %Renters36.4
12.6 %
31.3
15.2 %
5.1
16.3 %Commercial Multi-Peril64.9
22.5 %
41.0
19.9 %
23.9
58.3 %Casualty88.4
30.7 %
32.9
16.0 %
55.5
168.7 %Other7.2
2.6 %
4.3
2.2 %
2.9
67.4 %Total$ 287.9
100.0 %
$ 205.6
100.0 %
82.3
40.0 %

Years Ended December 31,




2025
2024




Amount
% ofGWP
Amount
% ofGWP
Change
%ChangeLine of Business










Homeowners$ 379.2
34.2 %
$ 423.1
47.4 %
(43.9)
(10.4) %Renters174.9
15.8 %
146.9
16.5 %
28.0
19.1 %Commercial Multi-Peril264.6
23.9 %
151.5
17.0 %
113.1
74.7 %Casualty263.8
23.8 %
137.6
15.4 %
126.2
91.7 %Other26.1
2.4 %
33.3
3.7 %
(7.2)
(21.6) %Total$ 1,108.6
100.1 %
$ 892.4
100.0 %
216.2
24.2 % Net Written Premium (NWP) by Line of Business

Three Months Ended December 31,




2025
2024




Amount
% ofNWP
Amount
% ofNWP
Change
%ChangeLine of Business










Homeowners$ 63.5
65.3 %
$ 65.5
82.7 %
(2.0)
(3.1) %Renters18.0
18.5 %
5.5
6.9 %
12.5
227.3 %Commercial Multi-Peril14.1
14.5 %
10.4
13.1 %
3.7
35.6 %Casualty2.3
2.4 %
0.4
0.5 %
1.9
475.0 %Other(0.7)
(0.7) %
(2.6)
(3.2) %
1.9
(73.1) %Total$ 97.2
100.0 %
$ 79.2
100.0 %
18.0
22.7 %

Years Ended December 31,




2025
2024




Amount
% ofNWP
Amount
% ofNWP
Change
%ChangeLine of Business










Homeowners$ 255.0
60.4 %
$ 307.2
82.4 %
(52.2)
(17.0) %Renters101.0
23.9 %
24.6
6.6 %
76.4
310.6 %Commercial Multi-Peril66.1
15.7 %
29.1
7.8 %
37.0
127.1 %Casualty8.6
2.0 %
1.9
0.5 %
6.7
352.6 %Other(8.4)
(2.0) %
9.8
2.7 %
(18.2)
(185.7) %Total$ 422.3
100.0 %
$ 372.6
100.0 %
49.7
13.3 % Net Earned Premium (NEP) by Line of Business

Three Months Ended December 31,




2025
2024




Amount
% ofNEP
Amount
% ofNEP
Change
%ChangeLine of Business










Homeowners$ 63.4
64.0 %
$ 62.7
81.4 %
0.7
1.1 %Renters18.4
18.6 %
6.4
8.3 %
12.0
187.5 %Commercial Multi-Peril15.5
15.6 %
6.2
8.1 %
9.3
150.0 %Casualty1.6
1.6 %
0.4
0.5 %
1.2
300.0 %Other0.2
0.2 %
1.3
1.7 %
(1.1)
(84.6) %Total$ 99.1
100.0 %
$ 77.0
100.0 %
22.1
28.7 %

Years Ended December 31,




2025
2024




Amount
% ofNEP
Amount
% ofNEP
Change
%ChangeLine of Business










Homeowners$ 251.1
66.1 %
$ 220.8
81.0 %
30.3
13.7 %Renters72.4
19.0 %
22.4
8.2 %
50.0
223.2 %Commercial Multi-Peril47.9
12.6 %
19.0
7.0 %
28.9
152.1 %Casualty6.1
1.6 %
2.0
0.7 %
4.1
205.0 %Other2.6
0.7 %
8.3
3.1 %
(5.7)
(68.7) %Total$ 380.1
100.0 %
$ 272.5
100.0 %
107.6
39.5 %Information about Key Operating Metrics/Non-GAAP Financial MeasuresAdjusted Net Income (Loss) is a non-GAAP financial measure, defined as net income (loss) excluding the impact of certain items that may not be indicative of underlying business trends, operating results, or future outlook, net of tax impact. We calculate the tax impact only on adjustments which would be included in calculating our income tax expense using the estimated tax rate at which the Company received a deduction for these adjustments.We define adjusted net income (loss) as net income (loss) adjusted for, as applicable, (i) depreciation and amortization, (ii) stock-based compensation expense, (iii) the impact of other non-cash fair market value adjustments, (iv) impairment and restructuring related expenses, (v) gain or loss on the sale of a business, and (vi) other one-off transactions, which primarily include certain legal fees and settlement costs, that we consider to be unique in nature, net of tax impact. We exclude the impact of depreciation and amortization, stock-based compensation expense, and non-cash fair market value adjustments, because these are non-cash expenses or non-cash fair value adjustments and we believe that excluding these items provides meaningful information regarding performance and ongoing cash-generation potential. We exclude impairment and restructuring related expenses, gain or loss on sale of business, and other one-off transactions because such expenses are periodic in nature and have no direct correlation to the cost of operating our business on an ongoing basis that we consider to be unique in nature.Management uses this measure evaluate our underlying business performance. Adjusted net income (loss) does not reflect the overall profitability of our business.Diluted Adjusted Earnings (Loss) per Share is a non-GAAP financial measure defined as adjusted net income (loss) divided by the weighted-average common shares outstanding for the period, reflecting the dilution which could occur if equity-based awards are converted into common share equivalents as calculated using the treasury stock method. Management uses this measure to assess performance on a per-share basis across periods. Diluted adjusted earnings (loss) per share should not be viewed as a substitute for diluted earnings per share calculated in accordance with GAAP, and other companies may define diluted adjusted earnings (loss) per share differently.Annualized adjusted return on equity is a non-GAAP financial measure defined as adjusted net income (loss) expressed on an annualized basis as a percentage of average beginning and ending stockholders' equity during the period. Management uses this measure to evaluate capital efficiency and returns generated on deployed capital. Annualized adjusted return on equity should not be viewed as a substitute for return on equity calculated using unadjusted GAAP numbers, and other companies may define adjusted return on equity differently.Tangible Book Value Per Share is a non-GAAP financial measure defined as total stockholders' equity, less intangible assets and capitalized internal use software, divided by the outstanding number of shares of our common stock at the end of the relevant period. Management uses this measure to evaluate changes from period to period in book value per share exclusive of changes in intangible assets in order to assess capital position and balance sheet strength. Tangible book value per share should not be viewed as a substitute for book value per share calculated in accordance with GAAP, and other companies may define tangible book value per share differently.These Non-GAAP financial measures are in addition to, and not a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with GAAP. Reconciliations of these Non-GAAP financial measures to their most directly comparable GAAP counterpart is included above. We believe that these non-GAAP measures of financial results provide useful supplemental information to investors about Hippo.Forward-looking statements safe harborCertain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial results and other operating and performance metrics, our business strategy, our cost reduction efforts, the quality of our products and services, and the potential growth of our business. These statements are based on the current expectations of Hippo's management and are not predictions of actual performance. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions, and many actual events and circumstances are beyond the control of Hippo. These forward-looking statements are subject to a number of risks and uncertainties, including our ability to navigate extensive insurance industry regulations and the scrutiny of state insurance regulators, our ability to achieve or maintain profitability in the future; our ability to retain and expand our customer base and grow our business, including our builder network; our ability to manage growth effectively; risks relating to Hippo's brand and brand reputation; denial of claims or our failure to accurately and timely pay claims; the effects of intense competition in the segments of the insurance industry in which we operate; the availability and adequacy of reinsurance, including at current coverage, limits or pricing; our ability to underwrite risks accurately and charge competitive yet profitable rates to our customers, and the sufficiency of the analytical models we use to assess and predict exposure to catastrophe losses; risks related to our proprietary technology and our digital platform; outages or interruptions or delays in services provided by our third party providers, including our data vendors; risks related to our intellectual property; the seasonal and cyclical nature of our business; the effects of severe weather events and other natural or man-made catastrophes, including the effects of climate change, global pandemics, and terrorism; any overall decline in economic activity; regulators' identification of errors in the policy forms we use, the rates we charge, and our customer communications including, but not limited to, cancellations, non-renewals and reinstatements through market conducts, complaints, or other inquiries; the effects of existing or new legal or regulatory requirements on our business, including with respect to maintenance of risk-based capital and financial strength ratings, data privacy and cybersecurity, and the insurance industry generally; and other risks set forth in the sections entitled "Risk Factors" in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Hippo does not presently know, or that Hippo currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Hippo's expectations, plans, or forecasts of future events and views as of the date of this press release. Hippo anticipates that subsequent events and developments will cause Hippo's assessments to change. However, while Hippo may elect to update these forward-looking statements at some point in the future, Hippo specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Hippo's assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.RoundingCertain monetary amounts, percentages, and other figures included in this release have been subject to rounding adjustments. The sum of individual metrics may not always equal total amounts indicated due to rounding.Contacts
Investors:
Charles Sebaski
Investors@hippo.comPress:
Mark Olson
press@hippo.com



View original content to download multimedia:https://www.prnewswire.com/news-releases/hippo-reports-fourth-quarter-2025-financial-results-302696167.htmlSOURCE Hippo Holdings Inc.

Original: Hippo Reports Fourth Quarter 2025 Financial Results

Hippo to Report Fourth Quarter Financial Results on February 25, 2026February 5, 2026 4:05 PM
PR Newswire (US)

SAN JOSE, Calif., Feb. 5, 2026 /PRNewswire/ -- Hippo Holdings Inc. (NYSE: HIPO), today announced the company's fourth quarter financial results will be released before market open on Wednesday, February 25, 2026. The company will host a conference call and live webcast for analysts and investors at 8:00am ET/5:00am PT on that day. An earnings release with the financial results will be accessible from the investor relations section of the company's website prior to the conference call.







Fourth Quarter Earnings Conference Call and Webcast InformationDate: Wednesday, February 25, 2026
Time: 8:00 a.m. Eastern Time / 5:00 a.m. Pacific Time
Dial In: +1 833 470 1428 / Global Dial-In Numbers
Access: 703997
Webcast: https://events.q4inc.com/attendee/971517166A replay of the webcast will be made available after the call in the investor relations section of the company's website at https://investors.hippo.com/.About Hippo Hippo is a technology-native insurance group that uses its carrier platform to diversify risk across both personal and commercial lines. Through the Hippo Homeowners Insurance Program, the company applies deep industry expertise and advanced underwriting to deliver proactive, tailored coverage for homeowners. Hippo Holdings Inc. subsidiaries include Hippo Insurance Services, Spinnaker Insurance Company, Spinnaker Specialty Insurance Company, and Wingsail Insurance Company. Hippo Insurance Services is a licensed property casualty insurance agent with products underwritten by various affiliated and unaffiliated insurance companies. For more information, please visit http://www.hippo.com.Contacts
Investors:
Charles Sebaski
investors@hippo.com Press:
Mark Olson
press@hippo.com



View original content to download multimedia:https://www.prnewswire.com/news-releases/hippo-to-report-fourth-quarter-financial-results-on-february-25-2026-302680595.htmlSOURCE Hippo Holdings Inc.

Original: Hippo to Report Fourth Quarter Financial Results on February 25, 2026

HIPO new 52 hi

IS THIS STOCK A SCAM OR WHAT??? I WANT THE TRUTH!!!

Big jump at the end

Microsoft co founder investing in HIPO Hipo a 3.1 Billion independent company. All out buy. We go back to @10 per share.

https://www.google.com/amp/s/investorplace.com/2021/09/hipo-stock-is-ready-to-recover-from-a-chaotic-start/amp/

Nice article

Microsoft founder investing big money in HIPO. Same founder of Microsoft !!!!

Microsoft backs HIPO? Amazing. News Alert just incoming. Wow Hippo Is Ready to Recover From a Chaotic Start
HIPO stock has been resilient this month, and potential big-name backers can boost its shares
14min ago · By Alex Sirois
The story of Hippo Holdings (NYSE:HIPO) stock had an inauspicious beginning. The homeowners insurance provider emerged from a special purpose acquisition company (SPAC) deal that soured in the eleventh hour. Now, investors are wondering if HIPO stock is worth a buy.
HIPO stock: miniature home next to pen, pad of paper, calculator and coins on a desk
Source: MIND AND I / Shutterstock.com
InvestorPlace’s own Robert Lakin did an excellent job of detailing the less-than-stellar initial public offering (IPO) early last month. It’s a great primer for what happened to the company, which had the backing of the founders of Microsoft.

90k bid at 5.60

Hungry Hungry Hippo @ 7 plus PR News Incoming I believe we have a Hippo that wants to go to the Moon. Waiting for it. This Hippo has a solid base and wants to move forward. HIPO ALL OUT BUY it’s over sold and wants to run run and run don’t let it fool you. New Highs !!!!!

I think this hippo will jump back over 6 AH today.

LETS SEND A HIPPO TO THE MOON. First time ever.

Looking for some nice upward movement today. Big stack at 6.55 pre market

First time ever Sending a HIPPO to the MOON ! Can we see 10 plus before Friday close? I believe so. Also to add PR news incoming and I believe this will be the launch to the Moon. First time ever a Hippo goes to the moon. Let’s send this Hippo to the moon !!!!!

Thanks for the explanation. The chart's looking good for next week.

HIPO is One Hungry HIPPO. Monday Green all day as the stock gets great PR news coverage coming in. All out buy. Have a Great weekend. We go to @ 7 plus next week. It’s here.

Chart gap got filled today at the $5.50 ish mark. This coming week, we move upward

Black Rock must be Buying a mega load if they filed a sec 13G Form I believe.

Black Rock wow. Looks like they filled to buy a shit load. Schedule 13G is an SEC form that is similar to Schedule 13D.
It is used to report a party’s ownership of stock that is over 5% of a class of equity in a company. Schedule 13G is an optional short-form version of beneficial ownership disclosure statement and is intended for passive investors, exempt investors, and qualified institutional investors that are subject to Rule 13d-1(b).
To be able to file a 13G, the responsible party must own between 5% and 20% in the company. It must also be understood that the party acquiring the stake in a company is only a passive investor, and does not intend to exert control. If these basic criteria are not met, and if the size of stake exceed 20%, a Schedule 13D filing must be filed.

CUSIP No. 433539103
(1)Names of reporting persons. BlackRock, Inc.
(2) Check the appropriate box if a member of a group
(a) [ ]
(b) [X]
(3) SEC use only
(4) Citizenship or place of organization
Delaware
Number of shares beneficially owned by each reporting person with:
(5) Sole voting power

0

(6) Shared voting power

0

(7) Sole dispositive power

0

(8) Shared dispositive power

0

(9) Aggregate amount beneficially owned by each reporting person

0

(10) Check if the aggregate amount in Row (9) excludes certain shares

(11) Percent of class represented by amount in Row 9

0.0%

(12) Type of reporting person

HC





Item 1.

Item 1(a) Name of issuer:
-----------------------------------------------------------------------

HIPPO HOLDINGS INC CLASS A

Item 1(b) Address of issuer's principal executive offices:
-----------------------------------------------------------------------

150 FOREST AVENUE
PALO ALTO, CA 94301


Item 2.


2(a) Name of person filing:
----------------------------------------------------------------------
BlackRock, Inc.


2(b) Address or principal business office or, if none, residence:
-----------------------------------------------------------------------
BlackRock, Inc.
55 East 52nd Street
New York, NY 10055

All out Buy

Blackrock released 13g today

Nice finish. 7’s tomorrow

What are investors going to pay per share is the question. - or + ?

News bit out

Upward! Go go HIPO!!

HIPO is about to make a big move

Bid stacks building and pushing upwards

Looks like more selling but it will turn into a buying frenzy for sure. We got this.

Let’s go HIPO!

Boom! Here come the bids. Good to be wrong about the pre market.

HIPO @7 plus today all out buy

Could be wrong. Pre market keeps moving

Pull back this morning. Looks like it will fill the gap to about 5.50 ish. IMO

https://www.google.com/amp/s/www.investorsobserver.com/news/stock-update/amp/financial-services-stocks-moving-tuesday-eftr-opad-hipo-soac-gdlc-lidr-btcm-husn

Have you seen the list of initial backers on this? Big $$

Hippo Raises Full Year Growth Outlook for Total Generated Premium; Q2 Results Reflect Strategic Progress to Scale and Diversify

Tomorrow HIPO @7 and above

This final hour will be fun to watch. Already traded 30 mill shares. Go HIPO!

https://www.google.com/amp/s/www.nasdaq.com/articles/hippo-holdings-trending-up-27-2021-09-07%3famp

HIPO is another MET LIFE in the making so undervalued.

Totally agree. Let’s spread the word!

Jim HIPO back to above @20s. Mega Short Squeeze in effect. HIPO way undervalued and shorts will close there trades pushing HIPO higher. September thru November is also know for insurance stocks to rally. I missed out on met life at theses lows now buying up HIPO !!!

Oh, it’s game on. Love these profits

Who remembers met life stock at this price. Now look at it. HIPO back to mid 20s fast. Very fast as shorts close there positions and buy calls and shares. 3 billion dollar plus company.

I did! Left half my stack. I haven't done much DD here, so stop lossing. Wow!

$5.50 long gone. Not even a bid support. Go HIPO!