Hippo Hldgs Inc Stock Price, News & Analysis

Hippo (NYSE: HIPO) reported consolidated financial results for Q2 2022, reflecting a robust position with a Gross Loss Ratio of 78%, showing substantial year-over-year improvement. The company has increased its full-year guidance for the Gross Loss Ratio to below 90% and anticipates total gross premium (TGP) growth of 29% year-over-year. Cash and investments stood at $732M at the end of June 2022. Hippo will host an Investor Day on September 6, 2022, to discuss its financial outlook and strategy.

Hippo (NYSE: HIPO) has appointed John "Jay" Nichols Jr. to its Board of Directors to enhance its home insurance vision. Nichols, an industry veteran with over 40 years of experience, will also serve on the Compensation and Audit, Risk and Compliance Committees. Previously the Interim CEO and Chairman of Protective Insurance Company, he oversaw its acquisition by Progressive Insurance. Nichols emphasized the need for improved insurance experiences, aligning with Hippo's proactive approach that leverages smart home technology and modern coverage solutions.

Hippo Holdings Inc. (NYSE: HIPO) plans to file a proxy statement for a special meeting on August 31, 2022, proposing a reverse stock split of 1-for-20 to 1-for-30 and a reduction in authorized shares. This action follows a non-compliance notice from the NYSE on July 19, 2022, due to the stock's average closing price being below $1.00 over 30 trading days. Hippo can regain compliance within six months if the stock reaches the minimum price requirements. The proposal aims to address compliance issues with NYSE listing standards.

AmeriSave Mortgage Corporation has launched AmeriSave Insurance Agency in partnership with Hippo (NYSE: HIPO), enhancing their mortgage services. This new platform allows homeowners to obtain insurance in as little as four minutes, moving away from the traditional lengthy application process. The collaboration aims to streamline home insurance acquisition, providing competitive quotes from multiple carriers. Leaders from both companies emphasize the importance of efficient access to high-quality insurance products for homebuyers and the overall goal of making homeownership more accessible.

First Connect Insurance Services has partnered with Cowbell Cyber to provide a modern cyber insurance product designed for small and medium-sized enterprises (SMEs). This addition allows independent agencies access to Cowbell Cyber's comprehensive coverage, which includes protection against security breaches, ransom attacks, and data loss. The partnership aims to enhance the offerings of First Connect, a subsidiary of Hippo Insurance Group, by integrating Cowbell's real-time risk assessment and streamlined application process, thereby supporting SMEs in safeguarding their digital operations.

Hippo Holdings Inc. (NYSE: HIPO) will host an Investor Day on September 6, 2022, at 9am EDT in New York City. The event is invitation-only and will feature CEO Rick McCathron and CFO Stewart Ellis presenting Hippo’s financial outlook and operational strategies. Other key executives will also participate in Q&A sessions. A live webcast of the event will be available on Hippo’s Investor Relations website, and a replay will follow. Hippo focuses on proactive home protection through smart technology and real-time data to safeguard homeowners.

Hippo (NYSE: HIPO) will release its second quarter financial results on August 11, 2022, after market close. A conference call will take place at 5pm ET/2pm PT that day, with a shareholder letter available on the company's website. The call will provide insights on Hippo's proactive home protection services and ongoing strategies leveraging real-time data and smart home technology to augment customer experience.

Hippo (NYSE: HIPO) has launched the Hippo Home Care mobile experience designed to alleviate homeowner anxiety regarding maintenance. A survey revealed that 87% of homeowners feel stressed about home upkeep. The new service includes a Home Health Assessment, personalized maintenance checklists, and expert advice. Alongside this launch, Hippo introduced an advertising campaign titled 'Feel the Housepower,' aimed at empowering homeowners with proactive solutions. CEO Rick McCathron emphasized that this innovation extends beyond insurance, equipping customers with essential knowledge and support.

Hippo Holdings Inc. (NYSE: HIPO) announced its inclusion in the Russell 3000® Index, effective June 27, 2022. This membership enhances visibility among institutional investors and broadens the company’s shareholder base. The Russell 3000® Index encompasses the largest U.S. stocks based on market capitalization, with over $12 trillion in assets benchmarked against these indexes. Hippo's proactive home protection model continues to position it as a leader in the insurance sector, offering coverage to over 80% of U.S. homeowners across 38 states.