Business
Hippo Reports First Quarter 2025 Financial Results and will Hold an Investor Day on June 12, 2025
Hippo (NYSE: HIPO), the home insurance group focused on proactive home protection, today announced its consolidated financial results for the three months that ended March 31, 2025.
About this update from Hippo Holdings Inc.
[{"type":"text","content":"SAN JOSE, Calif., May 7, 2025 /PRNewswire/ -- Hippo (NYSE: HIPO), the home insurance group focused on proactive home protection, today announced its consolidated financial results for the three months that ended March 31, 2025.","length":227,"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":400,"url":"https://media.zenfs.com/en/prnewswire.com/e177e9da1fa4ff06f11b1c96634c2f11"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/tcqFB5IFVT9onIRb8ntv_Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTcwNTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/e177e9da1fa4ff06f11b1c96634c2f11","width":400,"height":400}},"href":"https://mma.prnewswire.com/media/2241016/Hippo_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":""We delivered on two of our most important objectives as a company. We proactively supported customers affected by the Los Angeles wildfires and further advanced the key long-term value drivers in our business," said Hippo President and CEO Rick McCathron."Our homebuilder channel, which provides access to new, more resilient homes, drove a 35% year-over-year increase in gross written premium. Written premium outside of the Hippo Home Insurance Program increased by 21% year-over-year––an important source of diversification."","length":549,"tagName":"p"},{"type":"text","content":"The company also announced it has signed an agreement to raise a $50 million surplus note1. It plans to use the incremental, risk-based capital to support the growth of diversified product lines it accesses via the Spinnaker platform.","length":234,"tagName":"p"},{"type":"text","content":""High interest in our surplus note demonstrates the trust and enthusiasm investors have in Hippo and our ability to sustain a growth trajectory while maintaining strong underwriting results," said McCathron.","length":217,"tagName":"p"},{"type":"text","content":"Hippo will hold an Investor Day on Thursday, June 12, 2025, in New York City. The event will include presentations from senior leadership outlining the company's strategic direction and long-term financial targets.","length":218,"tagName":"p"},{"type":"...