Hippo Holdings (HIPO) Company Report

Hippo reported strong Third Quarter 2025 results, achieving adjusted net income of $18 million and growing gross written premium by 33% year over year to $311 million. The net loss ratio improved by 25 percentage points year over year to 48%, and the net combined ratio improved by 28 percentage points year over year to 100%.
The company is undergoing significant portfolio diversification, with casualty increasing to 25% of gross written premium and commercial multi-peril to 21%, while homeowners decreased to 32%.
Full-year 2025 guidance was raised for several key metrics, including gross written premium to $1.09-$1.11 billion, revenue to $465-$468 million, and adjusted net income to a profit of $10-$14 million. The net loss ratio guidance was also improved to 63%-64%.
Hippo repurchased 514,000 shares for approximately $15 million during the quarter.

Nov 5, 2025, 1:00 PM

Hippo (HIPO) Reports Q3 2025 Financial Results and Strategic Developments

HIPO

Earnings

Guidance Update

M&A

Hippo (HIPO) reported Net Income of $98.1 million and Adjusted Net Income of $18.3 million for Q3 2025. The company also achieved a 33% increase in Gross Written Premium and 14% growth in Book Value Per Share compared to year-end 2024.
Strategic developments in Q3 2025 included the sale of its homebuilder distribution network, which resulted in a net gain of $91 million. The company's underwriting performance for the quarter showed a Net Loss Ratio of 48% and a Net Combined Ratio of 100%.
Hippo provided a positive outlook, projecting 2025 Gross Written Premium (GWP) of $1.1 billion and setting 2028 targets including over $2 billion in GWP, over $125 million in Adjusted Net Income, and over 18% Adjusted Return on Equity. Additionally, new executive and board members were appointed, including a Chief Data Officer and two Directors.

Nov 5, 2025, 1:00 PM

Hippo Holdings Inc. Reports Strong Third Quarter 2025 Financial Results and Updates Full-Year Guidance

HIPO

Earnings

Guidance Update

Revenue Acceleration/Inflection

Hippo Holdings Inc. reported diluted net earnings per share of $3.77 and adjusted earnings per share of $0.70 for the quarter ended September 30, 2025.
The company saw its Gross Written Premium increase 33% to $311 million and revenue grow 26% to $121 million in Q3 2025 compared to Q3 2024.
Net Income reached $98 million in Q3 2025, a significant improvement from a net loss of $9 million in Q3 2024, partly due to a $91 million gain on the sale of its homebuilder distribution network.
Underwriting results improved substantially, with the Net Loss Ratio improving 25 percentage points to 48% and the Combined Ratio improving 28 percentage points to 100% compared to Q3 2024.
Hippo updated its FY 2025 guidance, projecting Gross Written Premium of $1,090-1,110 million, Revenue of $465-468 million, Net Income of $53-57 million, and Adjusted Net Income of $10-14 million.

Nov 5, 2025, 11:00 AM

Hippo Holdings Inc. Announces Strong Q3 2025 Financial Results and Updated Full-Year Guidance

HIPO

Earnings

Guidance Update

Revenue Acceleration/Inflection

Hippo Holdings Inc. reported diluted net earnings per share of $3.77 and adjusted earnings per share of $0.70 for the quarter ended September 30, 2025. The company achieved a net income of $98 million and adjusted net income of $18 million for Q3 2025.
Gross Written Premium increased 33% to $311 million and revenue grew 26% to $121 million compared to Q3 2024. The Net Loss Ratio improved 25 percentage points to 48% and the Combined Ratio improved 28 percentage points to 100% compared to Q3 2024.
The Q3 2025 results included a $91 million gain on the sale of its homebuilder distribution network, net of technology write-off. Book Value per share increased 14% to $16.64 from year-end 2024.
The company provided updated full-year 2025 guidance, expecting Gross Written Premium between $1,090 million and $1,110 million, revenue between $465 million and $468 million, and adjusted net income between $10 million and $14 million.

Nov 4, 2025, 10:40 PM

The Baldwin Group Announces Third Quarter 2025 Results

HIPO

Earnings

Revenue Acceleration/Inflection

Liquidity

The Baldwin Group reported total revenue of $365.4 million for the third quarter of 2025, an 8% increase year-over-year, with organic revenue growth of 5%.
For Q3 2025, the company posted a GAAP net loss of $30.2 million and a diluted loss per share of $0.27, while adjusted diluted EPS was $0.31.
Adjusted EBITDA for the third quarter was $72.5 million, remaining the same year-over-year, and the Adjusted EBITDA margin was 19.8%.
Year-to-date (nine months ended September 30, 2025), total revenue increased 9% to $1.158 billion, and adjusted diluted EPS grew 11% to $1.37.
As of September 30, 2025, the company held $89.7 million in cash and cash equivalents and had $524 million in borrowing capacity under its revolving credit facility.

Nov 4, 2025, 9:05 PM

Hippo Holdings Outlines Growth Strategy and Financial Targets

HIPO

Guidance Update

Revenue Acceleration/Inflection

M&A

Hippo Holdings (HIPO) projects significant growth, aiming to nearly double gross written premium to over $2 billion by 2028 and quadruple adjusted net income to more than $125 million by 2028, with high-teens return on equity. For the last 12 months, the company reported $950 million in gross written premium and $425 million in revenue, achieving net income positive from net operating activities for the first time.
Key growth drivers include organic expansion with existing programs, adding new programs (projecting $100-150 million in new gross written premium annually), and a strategic partnership with The Baldwin Group, which provides access to 3x more new homes. This partnership also involved selling HIPO's builder agencies for $100 million.
The company emphasizes underwriting discipline, evidenced by a rigorous selection process for new programs (only 4 out of 140+ opportunities cleared in 2024) and re-underwriting legacy homeowners' business, resulting in a cumulative rate increase of over 80%. The net loss ratio peaked at 47% in Q2 2025, with a guided target of 60-65% for 2028.
HIPO operates as a "program carrier," participating in risk (10-50%) rather than solely renting its balance sheet, a model that has seen its associated business grow from $100 million to over $800 million by 2025 while maintaining strong underwriting performance (net loss ratio in the low 40s).