Core Insights - Hippo Holdings Inc. reported a strong performance in Q3 2025, achieving a net income of $98 million, or $3.77 per diluted share, compared to a net loss of $9 million in the same quarter last year [5][12][18] - The company experienced a 33% year-over-year increase in gross written premiums, reaching $311 million, driven by significant growth in the Casualty and Commercial Multi-Peril lines [3][7][12] - Hippo's net loss ratio improved by 25 percentage points to 48%, reflecting better underwriting results and a lack of significant catastrophe losses [10][12][11] Financial Performance - **Gross Written Premium**: Increased to $311.2 million in Q3 2025 from $234.4 million in Q3 2024, marking a 33% growth [4][12] - **Net Income**: Reported at $98.1 million for Q3 2025, a significant turnaround from a net loss of $8.5 million in Q3 2024 [5][12] - **Adjusted Net Income**: Reached $18.3 million, or $0.70 per diluted share, compared to an adjusted net loss of $1 million in the prior year [5][12][19] - **Total Revenue**: Increased by 26% to $120.6 million from $95.5 million in Q3 2024, primarily due to a 41% rise in net earned premiums [9][12] Underwriting and Loss Ratios - **Net Loss Ratio**: Improved to 48% from 73% year-over-year, driven by effective underwriting and diversification strategies [10][12][11] - **Combined Ratio**: Improved to 100% from 128% in the previous year, indicating enhanced operational efficiency [11][12] - **Expense Ratio**: Decreased to 52% from 55% year-over-year, contributing to the overall improvement in profitability [11][12] Shareholder Equity and Book Value - **Total Shareholder Equity**: Increased to $422 million, or $16.64 per share, up 14% from $362 million at year-end 2024 [6][12] - **Tangible Book Value Per Share**: Rose to $16.08 from $13.88 at the end of 2024, reflecting the company's strengthened financial position [21][12] Strategic Focus - Hippo is aligning its organizational structure to enhance efficiency and resilience, focusing on profitable growth and diversification across its insurance offerings [2][3] - The company has expanded its platform to 36 programs, indicating a commitment to scaling operations and adapting to market changes [3][12]