Hippo Reports First Quarter 2026 Financial Results
Rhea-AI Summary
Hippo (NYSE: HIPO) reported Q1 2026 net income of $7.1M ($0.27 diluted) and adjusted net income of $17.2M ($0.65 diluted). Gross written premium rose 58% to $332.4M, revenue was $121.5M, combined ratio improved to 99.5%, and book value per share was $17.23.
The company updated 2026 guidance: GWP now $1.45–1.525B, net written premium $520–550M, revenue $560–570M, and adjusted net income $48–56M.
Positive
- Gross written premium +58% to $332.4M
- Net income of $7.1M vs. loss of $47.7M in 1Q25
- Adjusted net income $17.2M vs. adjusted loss of $35.1M
- Combined ratio improved 60 points to 99.5%
- Updated FY2026 GWP guidance to $1.45–1.525B
Negative
- Net retention decreased to 31% from 48%
- Net written premium grew only 1% to $101.4M
- Revenue benefit partly offset by $5.5M lower commissions
- Expense ratio still 51.5%, limiting margin expansion
Market Reaction – HIPO
Following this news, HIPO has declined 6.64%, reflecting a notable negative market reaction. The stock is currently trading at $26.35. This price movement has removed approximately $49M from the company's valuation.
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Key Figures
Market Reality Check
Peers on Argus
While HIPO was down 1.91% pre-release, key peers like UVE (-4.44%), UFCS (-3.49%), SAFT (-1.87%) and BOW (-1.61%) also traded lower, pointing to broader insurance weakness rather than a company-specific bid ahead of earnings.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 25 | Q4 2025 earnings | Positive | -4.9% | Strong Q4 and FY25 profitability with higher GWP and raised 2026 guidance. |
| Nov 05 | Q3 2025 earnings | Positive | +5.5% | Large gain on homebuilder sale plus better underwriting and updated 2025 guidance. |
| Aug 06 | Q2 2025 earnings | Positive | +14.0% | First positive net income from operations with strong revenue and loss ratio improvement. |
| May 07 | Q1 2025 earnings | Negative | -15.9% | Revenue growth but larger net loss driven by significant wildfire catastrophe losses. |
| Mar 06 | Q4 2024 earnings | Positive | +2.3% | Return to profitability with strong revenue growth and improved loss metrics despite CAT risk. |
Earnings releases have generally been positive on fundamentals, with four of the last five prompting aligned price moves and one notable selloff on strong results.
Over the last year, Hippo’s earnings reports have marked a transition to profitability and better underwriting. Q1 2025 was weighed down by wildfire losses, but subsequent quarters showed rising revenue, improving loss ratios and multiple quarters of positive net income. Guidance for 2025–2026 consistently emphasized growth in gross written premium and tighter combined ratios. Today’s Q1 2026 release, with higher revenue, sharply better loss metrics and raised full‑year guidance, continues that trajectory of improving financial performance and capital efficiency.
Historical Comparison
Past Hippo earnings have produced modest average moves of about 0.21%, with reactions ranging from sharp rallies on first-time profitability to one notable selloff on strong Q4 2025 results.
Earnings updates show a progression from heavy catastrophe-driven losses in early 2024–2025 toward sustained profitability, improving loss and combined ratios, and increasingly confident guidance on gross written premium and adjusted net income.
Market Pulse Summary
This announcement highlights Hippo’s continued shift to profitability, with Q1 2026 net income of $7.1M, adjusted net income of $17.2M, and a combined ratio of 99.5%. Gross written premium rose to $332.4M, while book value per share increased to $17.23. Compared with prior earnings, the company has steadily improved loss ratios and capital efficiency. Investors may watch future catastrophe experience, net retention levels, and delivery against the raised 2026 guidance for GWP and adjusted net income.
Key Terms
net loss ratio financial
combined ratio financial
non-gaap financial measure financial
AI-generated analysis. Not financial advice.
First Quarter Highlights
- Gross Written Premium increased
58% to$332 million - Net Income of
$7 million $48 million - Adjusted Net Income of
$17 million $35 million - Net Loss Ratio improved 58 percentage points to
48.0% compared to 1Q25 - Combined Ratio improved 60 percentage points to
99.5% compared to 1Q25 - Revenue grew
10% to$122 million - Book Value per share of
$17.23 2% from year-end 2025
"We got off to a fast start in 2026, significantly advancing our strategies on both growth and operational efficiencies. The launch of our strategic distribution relationship with Progressive, when—combined with our existing
He continued, "For the quarter, Hippo grew gross written premium by
Key Operating and Financial Metrics | |||
Three Months Ended March 31, | |||
2026 | 2025 | ||
($ in millions) | |||
Gross Written Premium | $ 332.4 | $ 210.9 | |
Net Written Premium | 101.4 | 100.3 | |
Net Retention | 31 % | 48 % | |
Total Revenue | $ 121.5 | $ 110.3 | |
Net Income (Loss) (1) | 7.1 | (47.7) | |
Adjusted Net Income (Loss) (1) (2) | 17.2 | (35.1) | |
Basic Earnings (Loss) per Share (1) | 0.27 | (1.91) | |
Diluted Earnings (Loss) per Share (1) | 0.27 | (1.91) | |
Diluted Adjusted Earnings (Loss) per Share (1) (2) | 0.65 | (1.41) | |
Net Loss Ratio | 48.0 % | 105.9 % | |
Expense Ratio | 51.5 % | 53.3 % | |
Combined Ratio | 99.5 % | 159.2 % | |
As of | |||
March 31, 2026 | December 31, 2025 | ||
Book Value Per Share (BVPS) | |||
Tangible Book Value Per Share (TBVPS) (2) | |||
(1) Attributable to Hippo |
(2) Indicates non-GAAP financial measure; see "Reconciliation of Non GAAP Financial Measures to Their Most Directly Comparable GAAP Financial |
First Quarter Operating Summary
Net income of
Adjusted net income of
Gross written premium of
Net written premium of
Revenue in the quarter of
Net Loss ratio of
Expense ratio of
Combined ratio of
Total Hippo shareholder equity of
Guidance Update
The following Guidance update is based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under "Forward-looking statements safe harbor" below.
Prior | Updated | ||||
2026 FY Guidance | 2026 FY Guidance | ||||
Gross Written Premium | |||||
Net Written Premium | |||||
Revenue | |||||
Combined Ratio | |||||
CAT Loss Ratio | 13 % | 13 % | |||
Adjusted Net Income (Loss)(1) | |||||
Stock-based compensation + Depreciation and Amortization | |||||
(1) Indicates non-GAAP financial measure; see "Reconciliation of Non GAAP Financial Measures to Their Most Directly Comparable GAAP Financial Measures" |
First Quarter Earnings Conference Call and Webcast Information
Date: Thursday, April 30, 2026
Time: 8:00 a.m. Eastern Time / 5:00 a.m. Pacific Time
Dial In: +1 833 470 1428 / Global Dial-In Numbers
Access: 433055350
Webcast: https://events.q4inc.com/attendee/433055350
A replay of the webcast will be made available after the call in the investor relations section of the company's website at https://investors.hippo.com/
About Hippo
Hippo is a technology-native insurance group that uses its carrier platform to diversify risk across both personal and commercial lines. Through the Hippo Homeowners Insurance Program, the company applies deep industry expertise and advanced underwriting to deliver proactive, tailored coverage for homeowners. Hippo Holdings Inc. subsidiaries include Hippo Insurance Services, Spinnaker Insurance Company, Spinnaker Specialty Insurance Company, and Wingsail Insurance Company. Hippo Insurance Services is a licensed property casualty insurance agent with products underwritten by various affiliated and unaffiliated insurance companies. For more information, please visit http://www.hippo.com.
Consolidated Balance Sheet | |||
March 31, | December 31, | ||
(unaudited) | |||
Assets | |||
Investments: | |||
Fixed maturities available-for-sale, at fair value (amortized cost: | $ 298.7 | $ 293.4 | |
Short-term investments, at fair value (amortized cost: | 125.2 | 152.5 | |
Total investments | 423.9 | 445.9 | |
Cash and cash equivalents | 275.4 | 218.3 | |
Restricted cash | 29.4 | 31.8 | |
Accounts receivable, net of allowance of | 282.1 | 250.1 | |
Reinsurance recoverable on paid and unpaid losses and LAE | 398.1 | 346.6 | |
Prepaid reinsurance premiums | 386.7 | 353.7 | |
Ceding commissions receivable | 132.8 | 98.7 | |
Capitalized internal use software | 42.3 | 43.0 | |
Intangible assets | 13.6 | 13.8 | |
Other assets | 77.6 | 103.6 | |
Total assets | $ 2,061.9 | $ 1,905.5 | |
Liabilities and stockholders' equity | |||
Liabilities: | |||
Loss and loss adjustment expense reserve | $ 482.6 | $ 420.4 | |
Unearned premiums | 615.3 | 579.7 | |
Reinsurance premiums payable | 356.3 | 304.4 | |
Provision for commission | 39.3 | 36.3 | |
Surplus note | 47.9 | 47.9 | |
Accrued expenses and other liabilities | 71.8 | 80.7 | |
Total liabilities | 1,613.2 | 1,469.4 | |
Commitments and contingencies (Note 12) | |||
Stockholders' equity: | |||
Common stock, | — | — | |
Additional paid-in capital | 1,659.4 | 1,651.5 | |
Accumulated other comprehensive (loss) income | (0.6) | 1.8 | |
Accumulated deficit | (1,210.1) | (1,217.2) | |
Total stockholders' equity | 448.7 | 436.1 | |
Total liabilities and stockholders' equity | $ 2,061.9 | $ 1,905.5 | |
Consolidated Statement of Operations | |||
Three Months Ended March 31, | |||
2026 | 2025 | ||
Revenue: | |||
Net earned premium | $ 98.9 | $ 87.3 | |
Commission income, net | 12.7 | 14.4 | |
Service and fee income | 3.2 | 2.8 | |
Net investment income | 6.7 | 5.8 | |
Total revenue | 121.5 | 110.3 | |
Expenses: | |||
Losses and loss adjustment expenses | 47.5 | 92.4 | |
Insurance related expenses | 34.9 | 30.2 | |
Technology and development expenses | 9.4 | 8.1 | |
Sales and marketing expenses | 6.3 | 8.9 | |
General and administrative expenses | 16.2 | 16.5 | |
Interest and other (income) expense, net | — | (0.2) | |
Total expenses | 114.3 | 155.9 | |
Income (loss) before income taxes | 7.2 | (45.6) | |
Income tax expense (benefit) | 0.1 | (0.2) | |
Net income (loss) | 7.1 | (45.4) | |
Net income attributable to noncontrolling interests, net of tax | — | 2.3 | |
Net income (loss) attributable to Hippo | $ 7.1 | $ (47.7) | |
Other comprehensive income (loss): | |||
Change in net unrealized gain (loss) on investments, net of tax | (2.4) | 2.1 | |
Comprehensive income (loss) attributable to Hippo | $ 4.7 | $ (45.6) | |
Per share data: | |||
Net income (loss) attributable to Hippo - basic and diluted | $ 7.1 | $ (47.7) | |
Weighted-average shares used in computing net income (loss) per | |||
Basic | 25,840,004 | 24,978,901 | |
Diluted | 26,354,271 | 24,978,901 | |
Net income (loss) per share attributable to Hippo | |||
Basic | $ 0.27 | $ (1.91) | |
Diluted | $ 0.27 | $ (1.91) | |
Consolidated Statement of Cash Flow | |||
Three Months Ended March 31, | |||
2026 | 2025 | ||
Cash flows from operating activities: | |||
Net cash provided by (used in) operating activities | $ 8.5 | $ (35.6) | |
Cash flows from investing activities: | |||
Capitalized internal use software costs | (3.1) | (2.8) | |
Purchases of property and equipment | (0.1) | (0.1) | |
Purchases of fixed maturities | (29.4) | (15.7) | |
Maturities of fixed maturities | 20.9 | 11.2 | |
Sales of fixed maturities | 1.1 | — | |
Purchases of short-term investments | (65.3) | (50.4) | |
Maturities of short-term investments | 91.4 | 46.8 | |
Sales of short-term investments | 2.0 | — | |
Proceeds from deferred consideration | 25.0 | — | |
Net cash provided by (used in) investing activities | 42.5 | (11.0) | |
Cash flows from financing activities: | |||
Taxes paid related to net share settlement of equity awards | — | (3.3) | |
Proceeds from issuance of common stock | 1.0 | 1.0 | |
Payments of contingent consideration | — | (0.2) | |
Distributions to noncontrolling interests | — | (2.5) | |
Other | 2.7 | (1.0) | |
Net cash provided by (used in) financing activities | 3.7 | (6.0) | |
Net increase (decrease) in cash, cash equivalents, and restricted cash | 54.7 | (52.6) | |
Cash, cash equivalents, and restricted cash at the beginning of the period | 250.1 | 232.8 | |
Cash, cash equivalents, and restricted cash at the end of the period | $ 304.8 | $ 180.2 | |
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES TO THEIR MOST DIRECTLY | |||
COMPARABLE GAAP FINANCIAL MEASURES | |||
(in millions, unaudited) | |||
Adjusted Net Income (Loss) | |||
Three Months Ended March 31, | |||
2026 | 2025 | ||
Net income (loss) attributable to Hippo | $ 7.1 | $ (47.7) | |
Adjustments: | |||
Depreciation and amortization | 4.8 | 5.6 | |
Stock-based compensation | 6.5 | 7.7 | |
Fair value adjustments | — | (0.5) | |
Other one-off transactions | (1.2) | (0.2) | |
Adjusted net income (loss) | $ 17.2 | $ (35.1) | |
Diluted Adjusted Earnings (Loss) per Share | |||
Three Months Ended March 31, | |||
2026 | 2025 | ||
Adjusted net income (loss) | $ 17.2 | $ (35.1) | |
Weighted-average common shares | 26,354,271 | 24,978,901 | |
Diluted Adjusted Earnings (Loss) per Share | $ 0.65 | $ (1.41) | |
Annualized Adjusted Return on Equity | |||
Three Months Ended March 31, | |||
2026 | 2025 | ||
Annualized Adjusted net income (loss) | $ 68.8 | $ (140.4) | |
Average Hippo Stockholders' Equity | 442.4 | 342.5 | |
Annualized Adjusted Return on Equity | 16 % | (41) % | |
Tangible Book Value Per Share | |||
As of March 31, 2026 | As of December 31, 2025 | ||
Hippo Stockholders' Equity | $ 448.7 | $ 436.1 | |
Less: Intangible assets | 13.6 | 13.8 | |
Less: Capitalized Internal Use Software | $ 42.3 | $ 43.0 | |
Tangible stockholders' equity | $ 392.8 | $ 379.3 | |
Shares outstanding | 26,035,917 | 25,699,704 | |
Tangible book value per share | $ 15.09 | $ 14.76 | |
SUPPLEMENTAL FINANCIAL INFORMATION | ||||
(in millions, unaudited) | ||||
Net Loss, Expense, and Combined Ratio | ||||
Three Months Ended March 31, | ||||
2026 | 2025 | |||
Net Earned Premium | $ 98.9 | $ 87.3 | ||
Catastrophe losses | 4.3 | 53.4 | ||
Non-catastrophe losses | 43.2 | 39.0 | ||
Loss and loss adjustment expenses | $ 47.5 | $ 92.4 | ||
Catastrophe losses ratio | 4.3 % | 61.2 % | ||
Non-catastrophe losses ratio | 43.7 % | 44.7 % | ||
Net loss ratio | 48.0 % | 105.9 % | ||
Insurance related expenses | $ 34.9 | $ 30.2 | ||
Technology and development | 9.4 | 8.1 | ||
Sales and marketing | 6.3 | 8.9 | ||
General and administrative | 16.2 | 16.5 | ||
Less: commission income, net and service and | (15.9) | (17.2) | ||
Total net expenses | $ 50.9 | $ 46.5 | ||
Expense Ratio | 51.5 % | 53.3 % | ||
Combined Ratio | 99.5 % | 159.2 % | ||
Prior accident year developments | ||||
Loss and loss adjustment expenses | (2.5) | (3.1) | ||
Net loss ratio | (2.6) % | (3.6) % | ||
Net accident year loss ratio | 50.6 % | 109.5 % | ||
Net accident year loss ratio x catastrophe | 46.3 % | 48.3 % | ||
Gross and Net Loss Ratio | |||
Three Months Ended March 31, | |||
2026 | 2025 | ||
Gross Losses and LAE | $ 147.2 | $ 211.8 | |
Gross Earned Premium | 297.3 | 222.8 | |
Gross Loss Ratio | 49.5 % | 95.1 % | |
Net Losses and LAE | $ 47.5 | $ 92.4 | |
Net Earned Premium | 98.9 | 87.3 | |
Net Loss Ratio | 48.0 % | 105.9 % | |
Underwriting Data
The Company has a single reportable segment and offers property & casualty insurance products. Gross written premiums (GWP), Net written premiums (NWP), and Net earned premiums (NEP) by line of business are presented below:
Gross Written Premium (GWP) by State | |||||||
Three Months Ended March 31, | |||||||
2026 | 2025 | ||||||
Amount | % of GWP | Amount | % of GWP | ||||
State | |||||||
$ 66.0 | 19.9 % | $ 46.0 | 21.8 % | ||||
44.2 | 13.3 % | 12.2 | 5.8 % | ||||
42.9 | 12.9 % | 32.0 | 15.2 % | ||||
36.2 | 10.9 % | 26.0 | 12.3 % | ||||
12.9 | 3.8 % | 6.0 | 2.8 % | ||||
9.7 | 2.9 % | 5.6 | 2.7 % | ||||
7.2 | 2.2 % | 4.6 | 2.2 % | ||||
7.0 | 2.1 % | 4.5 | 2.1 % | ||||
6.6 | 2.0 % | 4.2 | 2.0 % | ||||
6.5 | 2.0 % | 4.3 | 2.0 % | ||||
Other | 93.2 | 28.0 % | 65.5 | 31.1 % | |||
Total | $ 332.4 | 100.0 % | $ 210.9 | 100 % | |||
Gross Written Premium (GWP) by Line of Business | |||||||||||
Three Months Ended March 31, | |||||||||||
2026 | 2025 | ||||||||||
Amount | % of | Amount | % of | Change | % Change | ||||||
Line of Business | |||||||||||
Homeowners | $ 87.3 | 26 % | $ 87.1 | 41 % | $ 0.2 | 0.2 % | |||||
Renters | 40.8 | 12 % | 35.0 | 17 % | 5.8 | 16.6 % | |||||
Commercial Multi-Peril | 95.8 | 29 % | 50.7 | 24 % | 45.1 | 89.0 % | |||||
Casualty | 100.6 | 30 % | 34.3 | 16 % | 66.3 | 193.3 % | |||||
Other | 7.9 | 3 % | 3.8 | 2 % | 4.1 | 107.9 % | |||||
Total | $ 332.4 | 100 % | $ 210.9 | 100 % | $ 121.5 | 57.6 % | |||||
Net Written Premium (NWP) by Line of Business | |||||||||||
Three Months Ended March 31, | |||||||||||
2026 | 2025 | ||||||||||
Amount | % of | Amount | % of | Change | % | ||||||
Line of Business | |||||||||||
Homeowners | $ 60.8 | 60 % | $ 52.7 | 52.5 % | $ 8.1 | 15.4 % | |||||
Renters | 10.8 | 11 % | 37.2 | 37.1 % | (26.4) | (71.0) % | |||||
Commercial Multi-Peril | 17.6 | 17 % | 12.5 | 12.5 % | 5.1 | 40.8 % | |||||
Casualty | 12.9 | 13 % | 1.1 | 1.1 % | 11.8 | 1072.7 % | |||||
Other | (0.7) | (1) % | (3.2) | (3.2) % | 2.5 | (78.1) % | |||||
Total | $ 101.4 | 100 % | $ 100.3 | 100.0 % | $ 1.1 | 1.1 % | |||||
Net Earned Premium (NEP) by Line of Business | |||||||||||
Three Months Ended March 31, | |||||||||||
2026 | 2025 | ||||||||||
Amount | % of | Amount | % of | Change | % | ||||||
Line of Business | |||||||||||
Homeowners | $ 62.7 | 63.4 % | $ 61.6 | 70.6 % | $ 1.1 | 1.8 % | |||||
Renters | 17.0 | 17.2 % | 16.6 | 19.0 % | 0.4 | 2.4 % | |||||
Commercial Multi-Peril | 15.9 | 16.1 % | 6.6 | 7.6 % | 9.3 | 140.9 % | |||||
Casualty | 3.2 | 3.2 % | 0.5 | 0.6 % | 2.7 | 540.0 % | |||||
Other | 0.1 | 0.1 % | 2.0 | 2.2 % | (1.9) | (95.0) % | |||||
Total | $ 98.9 | 100.0 % | $ 87.3 | 100.0 % | $ 11.6 | 13.3 % | |||||
Information about Key Operating Metrics/Non-GAAP Financial Measures
We define adjusted net income, a Non-GAAP financial measure, as net income excluding the impact of certain items that may not be indicative of underlying business trends, operating results, or future outlook, net of tax impact. We calculate the tax impact only on adjustments which would be included in calculating our income tax expense using the estimated tax rate at which the company received a deduction for these adjustments. We use adjusted net income as an internal performance measure in the management of our operations because we believe it gives our management and financial statement users useful insight into our results of operations and our underlying business performance. Adjusted net income does not reflect the overall profitably of our business and should not be viewed as a substitute for net income calculated in accordance with GAAP. Other companies may define adjusted net income differently.
We define diluted adjusted earnings (loss) per share, a Non-GAAP financial measure, as adjusted net income divided by the weighted-average common shares outstanding for the period, reflecting the dilution which could occur if equity-based awards are converted into common share equivalents as calculated using the treasury stock method. Diluted adjusted earnings (loss) per share should not be viewed as a substitute for diluted earnings (loss) per share calculated in accordance with GAAP. Other companies may define diluted adjusted earnings (loss) per share differently.
We define annualized adjusted return on equity, a Non-GAAP financial measure, as adjusted net income (loss) expressed on an annualized basis as a percentage of average beginning and ending Hippo stockholders' equity during the period. We use annualized adjusted return on equity as an internal performance measure in the management of our operations because we believe it gives our management and financial statement users useful insight into our results of operations and our underlying business performance. Annualized adjusted return on equity should not be viewed as a substitute for return on equity calculated in accordance with GAAP. Other companies may define annualized adjusted return on equity differently.
We define tangible book value per share, a Non-GAAP financial measure, as total stockholders' equity, less intangible assets, divided by the outstanding number of shares of our common stock at the end of the relevant period. Our definition of tangible book value per share may not be comparable to that of other companies, and it should not be viewed as a substitute for book value per share calculated in accordance with GAAP. We use tangible book value per share internally to evaluate changes from period to period in book value per share exclusive of changes in intangible assets.
These Non-GAAP financial measures are in addition to, and not a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to net income, operating income or any other performance measures derived in accordance with GAAP. Reconciliations of these Non-GAAP financial measures to their most directly comparable GAAP counterpart is included above. We believe that these non-GAAP measures of financial results provide useful supplemental information to investors about Hippo.
Cautionary Note Regarding Forward-Looking Statements
Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding the financial position, business strategy, and the plans and objectives of management for Hippo Holdings Inc. (together with its subsidiaries, "Hippo," the "Company," "we," "us" and "our") for future operations. These statements constitute projections, forecasts, and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts.
Forward-looking statements generally are accompanied by words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "future," "intend," "may," "might," "outlook," "plan," "possible," "potential," "predict," "project," "seek," "seem," "should," "strive," "will," "would," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking.
Forward-looking statements in this press release include, for example, statements about:
- our future results of operations and financial condition, including estimates and forecasts of financial and operating results and performance metrics, and our ability to attain and maintain profitability;
- our business strategy, including our cost reduction efforts, our diversified distribution strategy, and our plans to expand into new markets and new products;
- our ability to grow our business and, if such growth occurs, to effectively manage such growth, including the growth and development of our builder network and other distribution channels;
- customer satisfaction and our ability to attract, retain, and expand our customer base;
- our ability to maintain and enhance our brand and reputation, including the quality of our products and services;
- our expectations about our book of business, including our ability to cross-sell and to attain greater value from each customer;
- the effects of seasonal and cyclical trends on our results of operations;
- our ability to compete effectively in the segments of the insurance industry in which we operate;
- our ability to underwrite risks accurately and charge competitive yet profitable rates to our customers, and the sufficiency of the analytical models we use to assess and predict exposure to catastrophe losses;
- our ability to maintain reinsurance contracts and our near- and long-term strategies and expectations with respect to the availability, adequacy, coverage, limits, pricing, and cession of insurance risk;
- our ability to utilize, develop, and protect our proprietary technology, digital platform, and intellectual property;
- our ability to leverage our data, technology, and geographic diversity to help manage risk;
- our ability to expand our product offerings or improve existing ones;
- our ability to attract and retain personnel, including our officers and key employees;
- potential harm caused by outages or interruptions in, or delays to, services provided by our third-party providers, including our data vendors;
- potential harm caused by misappropriation of our data and compromises in cybersecurity, and our ability to receive, process, store, use, and share data in compliance with laws and regulations related to data privacy and data security;
- potential harm caused by changes in internet search engines' methodologies;
- our denial of claims or our failure to accurately and timely pay claims;
- the effects of severe weather events and other natural or man-made catastrophes, including the effects of climate change, global pandemics, and terrorism;
- any overall decline in economic activity;
- regulators' identification of errors in the policy forms we use, the rates we charge, and our customer communications, including cancellations, non-renewals, and reinstatements, through market conduct exams, complaints, or other inquiries;
- our ability to navigate extensive insurance industry regulations and the scrutiny of state insurance regulators, and the effects of existing or new legal or regulatory requirements on our business, including with respect to maintenance of risk-based capital and financial strength ratings, the insurance industry generally, and data privacy and cybersecurity, in
the United States and internationally; - our expected use of cash on our balance sheet, our future capital needs, and our ability to raise additional capital;
- fluctuations in our results of operations and operating metrics; and
- our public securities' liquidity and trading.
These statements are based on the current expectations of Hippo's management and are not predictions of actual performance. You should not rely upon forward-looking statements as predictions of future events. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions, and many actual events and circumstances are beyond the control of Hippo. Although we believe that we have a reasonable basis for each forward-looking statement contained in this press release, we cannot guarantee that the future results, levels of activity, performance, events, and circumstances reflected in the forward-looking statements will be achieved or occur at all.
These forward-looking statements are subject to a number of risks, uncertainties, and other factors, including those described above and other risks set forth in the sections entitled "Risk Factors" in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, and in other documents that may be filed by the Company from time to time with the Securities and Exchange Commission (the "SEC"). Moreover, we operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release. If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Hippo does not presently know or that Hippo currently believes are immaterial that could also cause actual results, events, or circumstances to differ materially from those described in the forward-looking statements.
These forward-looking statements are based on information available as of the date of this press release and reflect Hippo's expectations, plans, forecasts, and views of future events as of that date. Accordingly, forward-looking statements should not be relied upon as representing Hippo's views as of any subsequent date, and Hippo does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. While Hippo may elect to update these forward-looking statements at some point in the future, Hippo specifically disclaims any obligation to do so. Accordingly, undue reliance should not be placed upon the forward-looking statements.
Rounding
Certain monetary amounts, percentages, and other figures included in this release have been subject to rounding adjustments. The sum of individual metrics may not always equal total amounts indicated due to rounding.
Contacts
Investors:
Charles Sebaski
Investors@hippo.com
Press:
Mark Olson
press@hippo.com
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SOURCE Hippo Holdings Inc.