Significant Premium Growth
Hippo achieved a 33% year-over-year increase in gross written premium, reaching $311 million, with strong performance across most lines of business.
Improved Underwriting Results
The company's net loss ratio improved by 25 percentage points to 48%, and the net combined ratio improved by 28 percentage points to 100% year-over-year.
Successful Diversification Strategy
Casualty increased to 25% of gross written premium from 14% last year, and commercial multi-peril rose to 21% from 13%.
Raised Full-Year Guidance
Hippo raised full-year guidance for gross written premium to $1.09 billion to $1.11 billion and expects adjusted net income to be between $10 million and $14 million.
Appointments of Key Leaders
Robin Gordon was appointed as Chief Data Officer, and two new board members were added, enhancing leadership and expertise.