Business
Hippo Closes $100M Mountain Re Cat Bond, Expanding Multi-Peril Coverage to Include Wildfire
Hippo Holdings Inc. (NYSE: HIPO) today announced the closing of Mountain Re Ltd. (Series 2026-1), a $100 million catastrophe bond sponsored by Spinnaker Insurance Company, a wholly owned subsidiary of Hippo, providing multi-year collateralized reinsurance protection against a broad range of U.S. perils. The offering was oversubscribed at rates below the initial range, reflecting strong capital markets demand and Spinnaker's growing track record as a repeat cat bond sponsor.
About this update from Hippo Holdings Inc.
[{"type":"text","content":"SAN JOSE, Calif., May 19, 2026 /PRNewswire/ -- Hippo Holdings Inc. (NYSE: HIPO) today announced the closing of Mountain Re Ltd. (Series 2026-1), a $100 million catastrophe bond sponsored by Spinnaker Insurance Company, a wholly owned subsidiary of Hippo, providing multi-year collateralized reinsurance protection against a broad range of U.S. perils. The offering was oversubscribed at rates below the initial range, reflecting strong capital markets demand and Spinnaker's growing track record as a repeat cat bond sponsor.","length":534,"tagName":"p"},{"type":"image","alt":"Hippo Logo (PRNewsfoto/Hippo Holdings Inc.)","displaySize":"","headline":null,"caption":"Hippo Logo (PRNewsfoto/Hippo Holdings Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":150,"url":"https://media.zenfs.com/en/prnewswire.com/e177e9da1fa4ff06f11b1c96634c2f11"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/K1GUUmsNdoaH.alwZSOAmg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTI2NA--/https://media.zenfs.com/en/prnewswire.com/e177e9da1fa4ff06f11b1c96634c2f11","width":400,"height":150},"resize_sm":{"url":"https://s.yimg.com/ny/api/res/1.2/Sw_yXatLqWc5RE0JjPl5yg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTY0MDtoPTI0MA--/https://media.zenfs.com/en/prnewswire.com/e177e9da1fa4ff06f11b1c96634c2f11","width":400,"height":150}},"href":"https://mma.prnewswire.com/media/2241016/Hippo_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":""Our ability to return to the capital markets and execute at favorable terms is a direct reflection of the strength of our carrier platform," said Rick McCathron, President and CEO of Hippo Holdings. "Our capital structure is designed to grow intelligently — retaining more risk when market conditions reward it and accessing strategic long-term capacity when it creates value. This transaction does exactly that."","length":434,"tagName":"p"},{"type":"text","content":"Mountain Re 2026-1: Structure and Coverage","length":42,"tagName":"p"},{"type":"text","content":"Mountain Re Ltd. (Series 2026-1) issued a $100 million tranche of Class A Notes, providing fully collateralized reinsurance on a per-occurrence, indemnity trigger basis across a three-year term expiring June 7, 2029.","length":216,"tagName":"p"},{"type":"text","content":"Coverage extends across five U.S. perils: nam...