Hippo Holdings Inc. · NYSE:HIPO
Hippo — Q3 2025 Earnings Presentation
23 slides from Hippo's earnings presentation, Nov 5, 2025
Slide 1: 3rd Quarter 2025 Financial Results
3rd Quarter 2025 Financial Results November 5th, 2025
Slide 2: Disclaimers
Disclaimers Forward-looking Statements Safe Harbor Certain statements included in this presentation that are not historical facts are outages or interruptions or delays in services provided by our third party providers, forward-looking statements for purposes of the safe harbor provisions under the
Slide 3: Hippo-at-a-glance / 3rd Quarter Highlights
Hippo-at- 3rd Quarter Highlights a-glance Technology native, 33% 30% 48% 100% multi-line carrier platform Gross Written Net Written Net Loss Ratio Net Combined Premium Premium Ratio Scalable and efficient Growth vs Growth vs capital structure Market Leader in the New Home Builder Channel $98.1M $18.
Slide 4: Executing with Purpose - Q3 2025 Developments
Executing with Purpose - Q3 2025 Developments June New Consolidated Reporting Legacy Reporting Historically we operated & Changes Lines of Business: reported on a (3) segment Homeowners Book Value Organizational basis: Per Share Restructure Renters Hippo Homeowners Tangible Book Sale of homebuilder
Slide 5: Well-Positioned To Achieve Long-Term Vision
...Well-Positioned To Achieve Long-Term Vision Homeowners 2028 Growth Disciplined Targets Approach World Renters Class >$ Diversified Carrier to Portfolio Optimization Team 2B Platform CMP and Risk GWP Management >$ $ 1.1B Casualty 125M 2025E GWP Other 60-65% Tech- Adj. Net Income Forward > 18% Long
Slide 6: Diversification & U/W in Q3 2025
Diversification & U/W in Q3 2025 New Westwood Integration $80M GWP Growth in 6 – First Polices Bound CMP & Casualty up October 2025 130% over 3Q24 36 Programs 25pt Loss Ratio 28pt Combined Improvement Ratio Improvement Existing Loss Ratio and Combined Ratio are net figures 30 3rd Quarter 2025 Financ
Slide 7: Expanding Talent
Expanding Talent New Executive Management New Board Members Robin Gordon Laura Hay Susan Holliday Chief Data Officer Director Director Served as Global Chief Former Global Former Managing Data & Analytics Officer Head of Insurance Director at Swiss Re at MetLife for KPMG International 3rd Quarter 20
Slide 8: Executing with Purpose
Executing with Purpose Carrying Strength World Class Momentum of Platform Team into 2026 & Beyond A technology-native insurance platform driving growth across owned and partner MGAs. 3rd Quarter 2025 Financial Results 8
Slide 9: Performance Drivers: Growing & Diversifying
Performance Drivers: Growing & Diversifying Gross Written Net Written Revenue 3Q25 (NEP, NII, Fees, Other) Premium Mix 3Q25 Premium Mix 3Q25 $ Million $311.2 $117.9 120.6 $234.4 $90.6 95.5 3Q2024 3Q2025 3Q2024 3Q2025 3Q2024 3Q2025 n Casualty n Commercial n Renters n Casualty n Commercial n Renters n
Slide 10: Improving Consolidated Net Underwriting
Improving Consolidated Net Underwriting Combined Ratio Combined Ratio Q3 2025 Driving Factors: 3Q25 vs 3Q24 2025 YTD vs 2024 YTD Improved by 27.9pt Improved by 31.5pt CAT Losses 100.0% 27.2% 118.3% 22.8% 22.1% 53.0% 48.5% 59.0% Attritional Losses 47.3% 54.8% 52.0% 65.6% 52.7% (2.7) % (0.5) % (2.0) %
Slide 11: Performance in Q3 2025
Performance in Q3 2025 Net Income Adjusted Net Income Annualized Adjusted Return $ Million $ Million on Equity 98.1 51.7 18.3 19% 0.2 —% (8.5) (1.3) (2%) (13%) (35.0) (84.7) 3Q2024 3Q2025 2024YTD 2025YTD 3Q2024 3Q2025 2024YTD 2025YTD 3Q2024 3Q2025 2024YTD 2025YTD 3rd Quarter 2025 Financial Results 1
Slide 12: Growing Book Value Per Share
Growing Book Value Per Share BVPS ($) +3.66 $422 million $16.64 shareholders equity (1.58) $14.56 Up 14% from year-end 2024 4Q’24 Baldwin Transaction Net Income x 3Q’25 BVPS Gain Gain on Sale BVPS 3rd Quarter 2025 Financial Results 12
Slide 13: Delivering Long-term Value
Delivering Long-term Value 2025 Outlook 2028 Targets Compelling (in millions) and Achievable $1,090-1,110 Gross Written Premium >$ 2B Gross Written Premium $465-468 Revenue >$ 125M Adjusted Net Income 63-64% Net Loss Ratio 18% > Adjusted Return on Equity $10-14 Adjusted Net Income $53-57 Net Income
Slide 14: Q&A
Q&A
Slide 15: Appendix
Appendix
Slide 16: Disclaimers: Non-GAAP Financial Measures
Disclaimers Non-GAAP Financial Measures This presentation includes the non-GAAP financial measures (including on a forward- Hippo believes that these non-GAAP measures of financial results (including on a looking basis) Adjusted Net Income, Diluted Adjusted Earnings (loss) per Share, forward-looking
Slide 17: Key Operating Metrics
Key Operating Metrics Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 (in millions, except per share data) Net earned premium $ 60.5 $ 64.4 $ 70.6 77.0 $ 87.3 $ 94.0 $ 99.7 Commission income, net 15.9 16.1 15.7 15.9 14.4 14.7 10.5 Service and fee income 2.8 3.0 3.0 2.8 2.8 2.9 3.1 Net investment income 5.
Slide 18: Reconciliation of Non-GAAP Metrics
Reconciliation of Non-GAAP Metrics $14.7M $(35.1)M $17.0M $18.3M $(1.3)M $(14.1)M Adjusted Net Income $(19.5)M (Loss) Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Net income (loss) attributable to Hippo $ (35.7) $ (40.5) $ (8.5) $ 44.2 $ (47.7) $ 1.3 $ 98.1 Adjustments Depreciation and amortization 5.6
Slide 19: Reconciliation of Non-GAAP Metrics
Reconciliation of Non-GAAP Metrics Annualized Adjusted Return on Equity Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Annualized Adjusted net income (loss) $ (56.4) $ (78.0) $ (5.2) $ 58.8 $ (140.4) $ 68.0 $ 73.2 Average Hippo Stockholders' Equity 364.6 336.9 324.5 344.3 342 328 377 Annualized Adjusted
Slide 20: Underwriting
Underwriting Net Loss, Expense, And Combined Ratio Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Net Earned Premium $60.5 $64.4 $70.6 $77.0 $87.3 $94.0 $99.7 Catastrophe losses 15.4 21.5 16.1 4.8 53.4 8.0 -0.3 Non-catastrophe losses 37.2 38.9 35.5 39.6 39.0 36.5 47.8 Loss and loss adjustment expenses $5
Slide 21: Underwriting: Gross & Net Loss Ratio
Underwriting Gross & Net Loss Ratio Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Gross Losses and LAE $121.1 $123.2 $106.3 $99.5 $211.8 $87.8 $100.6 Gross Earned Premium 206.7 212.2 213.4 221.5 222.8 238.5 253.0 Gross Loss Ratio 59% 58% 50% 45% 95% 37% 40% Net Losses and LAE $52.6 $60.4 $51.6 $44.4 $92
Slide 22: Underwriting: Premium by Line of Business
Underwriting Premium by Line of Business Q1’24 Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Gross Written Premium (in millions) Homeowners $97.0 $118.7 $111.3 $96.1 $87.1 $100.0 $101.0 Renters 29.0 33.8 52.9 31.3 35.0 44.2 59.3 Commercial Multi-Peril 31.3 49.6 29.6 41.0 50.7 83.3 66.0 Casualty 33.0 39.5 32.2
Slide 23: Contact Information
Contact Information Charles Sebaski Head of Investor Relations IR@hippo.com