Core Viewpoint - Hippo Holdings Inc. is set to release its second quarter financial results on August 6, 2025, and will host a conference call for analysts and investors [1][2]. Group 1: Financial Results Announcement - The second quarter financial results will be released before market open on August 6, 2025 [1]. - A conference call and live webcast will take place at 8:00 a.m. ET / 5:00 a.m. PT on the same day [2]. - A shareholder letter with the financial results will be available on the company's investor relations website prior to the conference call [1]. Group 2: Company Overview - Hippo is a technology-enabled insurance group that utilizes Spinnaker, its hybrid fronting carrier, to diversify risk across personal and commercial lines [2]. - The company offers tailored, proactive coverage for homeowners through the Hippo Homeowners Insurance Program, leveraging deep industry expertise and strong underwriting capabilities [2]. - Hippo is positioned to adapt to changing market conditions and capitalize on market cycles with a flexible portfolio and disciplined risk management approach [2]. Group 3: Subsidiaries - Hippo Holdings Inc. includes subsidiaries such as Hippo Insurance Services, Spinnaker Insurance Company, Spinnaker Specialty Insurance Company, and Wingsail Insurance Company [3]. - Hippo Insurance Services operates as a licensed property casualty insurance agent with products underwritten by various affiliated and unaffiliated insurance companies [3].

Financial Performance & Targets - Hippo exceeded its aggressive financial goals since the last investor day in 2022[17] - The company is targeting Gross Written Premium of over $2 billion by 2028[50], representing a Compound Annual Growth Rate (CAGR) of 25-28% from 2025[189] - Hippo aims to achieve Adjusted Net Income exceeding $125 million by 2028[50] - The company projects an Adjusted Return on Equity of 18%+ by 2028[50] - For Q2-Q4 2025 annualized, Hippo expects an Adjusted Net Income of $28-$32 million and an Adjusted Return on Equity of 8-9%[185] Spinnaker Platform Performance - Spinnaker platform achieved a Gross Written Premium of $618 million in FY2024[57] - The platform reported a Net Loss Ratio of 39% in FY2024[57] - Spinnaker platform delivered a 25% Return on Capital in FY2024, a significant increase from 12% in FY2022[57, 59] Hippo Home Insurance Program (HHIP) - Hippo Home Insurance is rapidly increasing net earned premiums while reducing loss ratio and driving profitability[27] - Hippo Home Insurance achieved an underwriting profit before overhead of negative $81 million in 2022, which improved to negative $7 million in 2024[28] - The HHIP Gross Loss Ratio excluding PAY Reserve Release improved from 73% in 2022 to 56% in 2024[28] - HHIP Net Earned Premium as a percentage of Gross Earned Premium increased from 6% in 2022 to 69% in 2024[28]

Summary of Hippo (HIPO) 2025 Investor Day Company Overview - **Company**: Hippo Holdings Group - **Event**: 2025 Investor Day held on June 12, 2025 - **Key Speakers**: Andrea Collins (CMO), Rick McAthron (CEO), Stuart Ellis (Chief Strategy Officer), Torben Ostergard (CEO of Spinnaker), Guy Zeltzer (CFO), Jesse Wilmot (CFO and COO of Spinnaker) Core Industry Insights - **Industry**: Insurance, specifically focusing on home insurance and hybrid fronting platforms - **Market Position**: Hippo is positioned as a tech-enabled insurance platform with a focus on underwriting and risk management Key Financial Highlights - **Previous Targets**: In 2022, Hippo set aggressive targets to achieve cash flow positivity and increase top-line revenue by over 3.5 times by the end of 2024 - **Current Performance**: Surpassed previous financial targets, with revenue guidance raised from $420-$450 million to $465-$475 million for the current fiscal year [12][13] - **Adjusted EBITDA Improvement**: Transitioned from a loss of $55 million in Q3 2022 to a positive adjusted EBITDA of $9 million, driven by improvements in underwriting profit and operational efficiency [11][14] Strategic Initiatives - **Business Transformation**: Shifted from a monoline homeowners company to an integrated platform with diversified lines of business, including casualty and new construction [30] - **Hybrid Fronting Platform**: Spinnaker is highlighted as a leading hybrid fronting platform, with a focus on geographic and product line diversification to reduce earnings volatility [33][34] - **Partnership with Baldwin Group**: The partnership is expected to triple access to builders and enhance the Hippo Home Insurance program, focusing on builder-sourced business [46][47] Risk Management and Underwriting - **Underwriting Improvements**: Achieved a cumulative rate increase of 82% through 173 new rate filings, significantly lowering the loss ratios from 34% to 19% for catastrophic risks and from 73% to 56% for non-catastrophic risks [18][22] - **Risk Management Strategy**: Emphasizes a disciplined approach to underwriting, focusing on positive expected loss ratios and utilizing data analytics for decision-making [39][90] Technology and Operational Efficiency - **Technology Investments**: Significant investments in technology to automate onboarding processes and improve operational efficiency, enhancing the ability to manage risk and underwriting [95][96] - **Operational Excellence**: A dedicated team focuses on streamlining workflows and processes to ensure scalability and favorable results [42][92] Future Outlook - **Financial Targets for 2028**: Aiming for $2 billion in gross written premium, over $125 million in adjusted net income, and more than 18% return on equity [45] - **Market Growth**: The MGA market is projected to grow, with Hippo well-positioned to capitalize on this growth through its hybrid fronting model [72] Additional Insights - **New Construction Focus**: Emphasizing the importance of new construction in underwriting, as it generally presents lower risk compared to older homes [63][64] - **Value Chain Benefits**: The partnership with Baldwin is expected to create a more frictionless experience for builders and customers, enhancing overall outcomes [68] This summary encapsulates the key points discussed during Hippo's 2025 Investor Day, highlighting the company's strategic direction, financial performance, and market positioning within the insurance industry.

Core Insights - Hippo is hosting its 2025 Investor Day to present its three-year roadmap and announce a strategic partnership with The Baldwin Group [1] - The company has transitioned from a monoline homeowners insurance carrier to a scalable hybrid fronting platform, aiming for sustainable and profitable growth [2] Strategic Partnership - Hippo has formed a strategic partnership with The Baldwin Group's subsidiary, Westwood Insurance Agency, to enhance its New Homes business [4] - The partnership will allow Hippo to access three times as many new construction homebuyers and will involve Baldwin purchasing Hippo's existing homebuilder distribution network for $100 million [5] Financial Targets - Hippo has set ambitious 2028 financial targets, including gross written premium exceeding $2 billion, adjusted net income greater than $125 million, and adjusted return on equity greater than 18% [4][5] Business Strategy - The company is diversifying its premium mix across personal and commercial lines through its integrated hybrid fronting platform, Spinnaker [5] - Hippo aims to capitalize on the growth in the home insurance market with its Hippo Homeowners Insurance Program, which offers a tech-forward customer experience [5] Operational Framework - The strategic framework is designed to deliver attractive returns through a diversified portfolio of risk anchored in core home offerings [4] - The partnership with Baldwin will enhance Hippo's capacity to support builder clients in a challenging insurance market [6]

Financial Data and Key Metrics Changes - In Q1 2025, revenue grew 30% year over year to $110 million, up from $85 million in Q1 2024 [13] - Adjusted EBITDA loss was $41 million, a $21 million increase compared to Q1 2024, with $45 million of expenses related to the LA wildfires [16][17] - Net loss for Q1 was $48 million, a $12 million increase from Q1 2024, but would have improved by $33 million without the impact of the wildfires [16] Business Line Data and Key Metrics Changes - The Hippo homeowners insurance program saw a 35% year over year increase in gross written premium from homebuilder partners [7] - Insurance as a Service revenue grew 91% year over year to $39 million, driven by a 27% increase in gross earned premium [13] - HHIP revenue grew 12% year over year to $62 million, supported by improvements in reinsurance structure [14] Market Data and Key Metrics Changes - Written premium outside of HHIP increased 21% year over year, indicating diversification in business lines [9] - The HHIP gross loss ratio increased 41 percentage points year over year to 121%, primarily due to the LA wildfires [14][15] Company Strategy and Development Direction - The company is preparing to expand new business in the HHIP program after reducing written premium from existing homes in catastrophe-prone areas [8] - Plans to raise an additional $50 million in surplus notes to support growth in the Spinnaker platform, which has shown consistent profitability [10] - The company aims to generate net profit by the end of 2025, with a focus on revenue growth and improved underwriting performance [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving net profit by Q4 2025, driven by higher premium retention and improved loss ratios [18] - The impact of the LA wildfires was acknowledged, but management emphasized that the new homes channel remained unaffected [12][16] - The company is optimistic about its long-term growth trajectory and plans to share a three-year roadmap at the upcoming Investor Day [11] Other Important Information - The company is focused on reducing fixed expenses through investments in infrastructure and automation, which will support future operating leverage improvements [10] - As of Q1, cash and investments decreased by $42 million to $528 million, primarily due to payments related to the LA fires [17] Q&A Session Summary Question: What will be the cost of the surplus note being raised? - The rate on the surplus note is approximately 9.5%, which is considered favorable for the company [23][24] Question: Will the capital from the surplus note fund the HHIP program or just Spinnaker? - The primary driver for raising the note is to fund the Spinnaker platform, but it will also support growth in the HHIP portfolio now that risks have been reduced [26][27] Question: How does the company view tariffs and their impact on new home sales? - The company can adjust coverage and premiums automatically at each renewal, ensuring adequate protection for policyholders despite material inflation [32][34] Question: When does the company expect to achieve EBITDA profitability? - The company is guiding for net income profitability in Q4 2025 and expects adjusted EBITDA to improve throughout the year [36][38] Question: Does the EBITDA loss include the assessment from the Fair Plan? - Yes, the $45 million loss includes the Fair Plan assessment, with $12 million attributed to Spinnaker non-HIPPO programs [39][41]

Financial Data and Key Metrics Changes - In Q1 2025, revenue grew 30% year over year to $110 million, up from $85 million in Q1 2024, driven primarily by the Insurance as a Service and HHIP Home Insurance Program segments [12] - The company expects to finish 2025 with an annual run rate of more than $500 million in revenue and generating net profit [11][18] - Q1 net loss was $48 million, a $12 million increase compared to Q1 2024, with $45 million of this loss related to the LA wildfires [15] - Adjusted EBITDA loss for Q1 was $41 million, a $21 million increase year over year, with the LA wildfires contributing $45 million to this loss [16] Business Line Data and Key Metrics Changes - The Hippo homeowners insurance program saw a 35% year-over-year increase in gross written premium from homebuilder partners [6] - Insurance as a Service revenue grew 91% year over year to $39 million, driven by a 27% increase in gross earned premium [12] - HHIP revenue grew 12% year over year to $62 million, supported by improvements in reinsurance structure [12][13] - Written premium outside of HHIP increased 21% year over year, contributing to diversification [7] Market Data and Key Metrics Changes - The company reported that new homes built to modern codes are more resilient, which has led to compelling underwriting results [6] - The HHIP gross loss ratio increased 41 percentage points year over year to 121%, primarily due to the LA wildfires [13] - The HHIP non-PCS loss ratio improved, declining six percentage points year over year to 53% due to portfolio transformation efforts [14] Company Strategy and Development Direction - The company is preparing to expand new business in the HHIP program after reducing written premium from existing homes in catastrophe-prone areas [6][10] - Investments in infrastructure and automation are aimed at reducing fixed expenses and improving operating leverage [9] - The company plans to share a three-year roadmap and long-term financial targets at the upcoming Investor Day on June 12, 2025 [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in generating net profit by Q4 2025, supported by revenue growth and improved premium retention [17] - The impact of the LA wildfires is expected to diminish as underwriting and pricing actions take effect throughout the year [17] - Management highlighted the importance of the Spinnaker platform for growth and risk participation [9][23] Other Important Information - The company is in the process of raising a $50 million surplus note to support growth in the Spinnaker platform, with an expected rate of approximately 9.5% [20][21] - Q1 ending cash and investments decreased by $42 million to $528 million, primarily due to payments related to the LA fires [16] Q&A Session Summary Question: What will be the cost of the surplus note? - The rate on the surplus note is approximately 9.5%, which is considered favorable for the company [20][21] Question: Will the capital from the note fund the HHIP program or just Spinnaker? - The primary driver for raising the note is to fund the Spinnaker side of the business, but it will also support growth in the HHIP portfolio [23][24] Question: How does the company view tariffs and their impact on new home sales? - The company can adjust coverage and premiums automatically at each renewal, ensuring adequate protection for policyholders despite tariff impacts [28][30] Question: When does the company expect to achieve EBITDA profitability? - The company is guiding for net income profitability in Q4 2025 and expects adjusted EBITDA to improve throughout the year [32][34] Question: Does the EBITDA loss include the assessment from the Fair Plan? - Yes, the $45 million loss includes the Fair Plan assessment, with $12 million attributed to Spinnaker non-EPO programs [35][36]

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."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, whi ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to ______. Commission file number 001-39711 HIPPO HOLDINGS INC. (Exact name of registrant as specified in its charter) One Almaden Blvd., Suite 400 San ...

hippo ES 01 2025 LETTER TO SHAREHOLDERS Loss Ratios Higher YoY, driven by the LA wildfires Letter to Shareholders | 01 2025 hippo KEY HIGHLIGHTS FROM 01 Top-line Growth Continues Improving Operating Leverage Investments in operational efficiencies continued to pay . off as fixed expenses (S&M, T&D, and G&A) declined by $7m while revenue increased by $25m YoY, resulting in an 18pp decrease YoY in these costs as a percentage of revenue, from 48% of revenue in Q1'24 to 30% in Q1'25 Underlying improvement in pr ...

Financial Results Announcement - Hippo will release its first quarter financial results after market close on May 7, 2025 [1] - A conference call and live webcast for analysts and investors will take place at 5:00 PM ET / 2:00 PM PT on the same day [1][3] - A shareholder letter with the financial results will be available on the company's investor relations website prior to the conference call [1] Investor Day - The company will host an Investor Day on June 12, 2025, in New York City [2] - The event will feature presentations and Q&A sessions with Hippo's senior management regarding long-term growth strategy and financial goals [2] - Attendance is by invitation only, with more information to be provided closer to the event date [2] Company Overview - Hippo focuses on proactive home protection, safeguarding customers' financial assets through real-time data and a suite of home services [3] - Operating subsidiaries include Hippo Insurance Services, Hippo Builder Insurance Agency, Hippo Home Care, Spinnaker Insurance Company, Spinnaker Specialty Insurance Company, and Wingsail Insurance Company [3] - Hippo Insurance Services and Hippo Builder Insurance Agency are licensed property casualty insurance agents with products underwritten by various affiliated and unaffiliated insurance companies [3]