Latest news with #Hippo
Yahoo
6 days ago
- Business
- Yahoo
Hippo Reports Second Quarter 2025 Financial Results
SAN JOSE, Calif., Aug. 6, 2025 /PRNewswire/ -- Hippo (NYSE: HIPO), the tech-enabled insurance group proactively protecting homeowners and supporting program insurance partners, today announced its consolidated financial results for the quarter ended June 30, 2025. "We stacked another strong quarter, with more than 30% revenue growth, a major improvement in our net loss ratio, and increased operating leverage—all of which helped us achieve positive net income from operating activities for the first time," said Hippo President and CEO Rick McCathron. "We also announced a strategic partnership that will accelerate our growth and diversification, while strengthening our balance sheet with a $100 million capital infusion. In addition, we launched two exciting new commercial and casualty programs on our hybrid fronting platform, unlocking important new sources of diversification and profitability." Complete financial results and full year guidance for 2025 can be found in the company's shareholder letter in the Investor Relations section of Hippo's website at Second Quarter Highlights Top-Line Momentum and New Program Launches Gross Written Premium up 16% YoY to $299m, driven by organic growth in existing and new hybrid fronting programs launched Revenue grew 31% YoY to $117m, driven by an increase in gross earned premium and higher premium retention A Step-Change in Net Loss Ratio Consolidated Net Loss Ratio of 47%, a 46pp improvement YoY, powered by underwriting and rate actions, better claims operations, and favorable reserve releases HHIP net loss ratio of 55%, a 58pp YoY improvement, driven by better gross loss ratio HHIP non-PCS loss ratio of 42%, a 28pp improvement YoY; PCS loss ratio at 13%, a 30pp improvement YoY, boosted 7pp by favorable reserve releases Continued Operating Leverage Improvement Fixed expenses (S&M, T&D, G&A) declined by $6m YoY as revenue increased by $28m, reflecting continued improvement in operational efficiencies These costs decreased as a percentage of revenue by 16pp YoY from 46% in Q2'24 to 30% in Q2'25 Significant Gain in Profitability Metrics Net Income attributable to Hippo of $1m compared to Net Loss of $40m in Q2 of last year Adjusted Net Income of $17m compared to Adjusted Net Loss of $20m in Q2 of last year Financial Strength Cash and investments, excluding restricted cash, increased $76m QoQ to $604m; increase was mostly related to the issuance of a $50m surplus note Spinnaker surplus of $223m, up from $202m a year ago Second Quarter Earnings Conference Call and Webcast Information Date: Wednesday, August 6, 2025Time: 8:00 a.m. Eastern Time / 5:00 a.m. Pacific TimeDial In: +1 833 470 1428 / Global Dial-In NumbersAccess: 750648Webcast: A replay of the webcast will be made available after the call in the investor relations section of the company's website at Information about Key Operating Metrics/Non-GAAP Financial Measures We define gross loss ratio expressed as a percentage, as the ratio of the gross losses and loss adjustment expenses, to the gross earned premium. We define net loss ratio expressed as a percentage, as the ratio of the net losses and loss adjustment expenses, to the net earned premium. We define adjusted net income (loss), 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 define adjusted EBITDA, a Non-GAAP financial measure, as net loss attributable to Hippo excluding interest expense, income tax expense, depreciation, amortization, stock-based compensation, net investment income, restructuring charges, impairment expense, gains and losses on sales of business, other non-cash fair market value adjustments, contingent consideration for one of our acquisitions, and other transactions, which may include certain legal fees and settlement costs, that we consider to be unique in nature. We exclude these items from Adjusted EBITDA because we do not consider them to be directly attributable to our underlying operating performance. 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 in the shareholder letter referenced above. We believe that these non-GAAP measures of financial results provide useful supplemental information to investors about Hippo. Forward-looking statements safe harbor 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. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of financial results and other operating and performance metrics, our business strategy, our cost reduction efforts, the quality of our products and services, and the potential growth of our business. These statements are based on the current expectations of Hippo's management and are not predictions of actual performance. 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. These forward-looking statements are subject to a number of risks and uncertainties, including our ability to navigate extensive insurance industry regulations and the scrutiny of state insurance regulators, our ability to achieve or maintain profitability in the future; our ability to retain and expand our customer base and grow our business, including our builder network; our ability to manage growth effectively; risks relating to Hippo's brand and brand reputation; denial of claims or our failure to accurately and timely pay claims; the effects of intense competition in the segments of the insurance industry in which we operate; the availability and adequacy of reinsurance, including at current coverage, limits or pricing; 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; risks related to our proprietary technology and our digital platform; outages or interruptions or delays in services provided by our third party providers, including our data vendors; risks related to our intellectual property; the seasonal and cyclical nature of our business; 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, but not limited to, cancellations, non-renewals and reinstatements through market conducts, complaints, or other inquiries; 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, data privacy and cybersecurity, and the insurance industry generally; and other risks set forth in the sections entitled "Risk Factors" in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. 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 to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Hippo's expectations, plans, or forecasts of future events and views as of the date of this press release. Hippo anticipates that subsequent events and developments will cause Hippo's assessments to change. However, while Hippo may elect to update these forward-looking statements at some point in the future, Hippo specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Hippo's assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements. About Hippo Hippo is a technology-enabled insurance group that uses its hybrid fronting 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 ContactsInvestors:Sammy NgInvestors@ Press:Mark Olsonpress@ View original content to download multimedia: SOURCE Hippo Holdings Inc.
Time of India
01-08-2025
- Business
- Time of India
What is ‘HiPPO'? Angry employee coins a term for the workplace favouritism. Internet has a field day
A disheartened professional recently shared his thoughts on the subreddit Indian Workplace, shedding light on an all-too-common phenomenon plaguing many corporate environments: the unchecked influence of the most highly paid individual in the room, often regardless of their actual expertise or logic. In a sarcastic tone, he coined this force as the 'HiPPO'—not the animal from the wild, but the "Highest Paid Person's Opinion" that dominates many organisations, decision-making is still steered not by data or experience, but by gut feelings voiced by the most senior or well-compensated person present. This misplaced confidence, once based on instinct or limited knowledge, has now been supercharged by a new source—podcasts. According to the Redditor, HiPPOs no longer just trust their gut; they now wield the inflated confidence of recent podcast episodes as gospel, treating themselves as instant experts on every subject under shift is particularly visible at the start of the workweek. As Monday meetings begin, the air becomes thick with buzzwords and phrases lifted from trendy tech talk or self-help soundbites. Expressions like "let's not try to boil the ocean" echo through online meetings, overshadowing genuine insights. Years of professional experience or painstakingly compiled data are casually dismissed, outclassed by the latest quote from a Silicon Valley entrepreneur or the trending terminology of the Redditor likened this absurdity to being a gourmet chef only to have a superior flash a viral cooking video and ask if that can be replicated instead. The reality of experience, skill, and logistical constraints is conveniently ignored in favour of flashy, untested ideas. Employees find themselves having to reintroduce practicality, feasibility, and budget constraints into grand visions that are often disconnected from real-world role of a modern professional, the post seemed to suggest, has evolved into something bizarre—taking overambitious, podcast-inspired concepts and delicately reattaching the grounding elements of reality. The final note carried a weary plea to others who might be stuck in similar situations, asking them to signal distress if they too are burdened by HiPPOs in their poured in from fellow users. While some pointed out that there's often a reason why someone reaches the top pay bracket, others challenged that logic, blaming India's hierarchical work culture for discouraging dissent and fostering unchecked decided to be more humorous. One comment read, "Aaj achanak ye sunn ke Hippo chips ki yaad aagyi vro."Another quipped, "HIPPOBOT 9000 v 3.1 FOUND A HIPPO. 3,022,211,891 COMMENTS SEARCHED. 61,763 HIPPOS FOUND. YOUR COMMENT CONTAINS THE WORD HIPPO."
Los Angeles Times
29-07-2025
- Entertainment
- Los Angeles Times
Grains of glory: Family sandcastle showdown unites all ages on Balboa Island
While some families may have still been lingering at their breakfast table Saturday morning, others were digging up some fun at the annual Balboa Island Family Sandcastle Contest, a two-hour competition that began at 8:30 a.m. The Ruby Avenue beach on North Bayfront was swarming with worker bees vigorously building sand-sculptures within the designated time frame. Participating families this year were a mix of locals and visitors, with a range of ages and personalities. 'There are all different types of kids, from athletic to artistic, some with high energy some with low energy,' said Stephanie Crosson, who helped her dad, Chris Crosson, pull the contest together. 'They're all fired up and ready to express themselves in different ways,' she said of the competitors. The annual event is a joint effort between the senior Crosson, founder of Sand Castle Kit, and the Balboa Island Improvement Assn., which helps sponsor it. Crosson provides all of the supplies required to build a sandcastle sculpture to each of the participants and Marine Avenue merchants donate snacks and prizes. The O'Brien family, which have emerged as champions in the same contest before, captured first place this year with their sculpture titled 'Giant Fish. 'They and the three other top winners received prizes from as well as from three local merchants — the Golden Rabbit, Balboa Island Baking Co. and Balboa Candy. According to B.I.I.A. president, Dan Abbott one of the most challenge aspects of setting up for the competition is to clear enough space on the beach to make room it. '[Volunteers] come out here really early in the morning,' said Abbott. 'And it's posted that the contest is coming.' According to Chris Crosson, everyone walked away with something for their efforts — each participant received a Hippo cookie donated by Dad's Donuts. The honorable mentions received a tool pouch along with their cookie.
Yahoo
15-07-2025
- Business
- Yahoo
Hippo to Report Second Quarter Financial Results on August 6, 2025
SAN JOSE, Calif., July 15, 2025 /PRNewswire/ -- Hippo (NYSE: HIPO), the insurance group focused on proactive protection, today announced the company's second quarter financial results will be released before market open on Wednesday, August 6, 2025. The company will host a conference call and live webcast for analysts and investors at 8:00am ET/5:00am PT on that day. A shareholder letter with the financial results will be accessible from the investor relations section of the company's website prior to the conference call. Second Quarter Earnings Conference Call and Webcast Information Date: Wednesday, August 6, 2025Time: 8:00 a.m. Eastern Time / 5:00 a.m. Pacific TimeDial In: +1 833 470 1428 / Global Dial-In Numbers Access: 750648Webcast: A replay of the webcast will be made available after the call in the investor relations section of the company's website at About Hippo Hippo is a technology-enabled insurance group that leverages Spinnaker, its hybrid fronting carrier, to diversify risk across both personal and commercial lines. Through the Hippo Homeowners Insurance Program, the company applies deep industry expertise and strong underwriting capabilities to deliver tailored, proactive coverage for homeowners. With a flexible portfolio and a disciplined risk management approach, Hippo is well-positioned to adapt to changing market conditions and capitalize on market cycles. 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 Contacts Investors:Sammy Nginvestors@ Press:Mark Olsonpress@ View original content to download multimedia: SOURCE Hippo Analytics, Inc Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Borneo Post
10-07-2025
- Entertainment
- Borneo Post
Sarawak kids shine at Hippo English competition in Vietnam
The children from Sarawak who competed in the Hippo English Without Borders competition in Da Nang. DA NANG (July 11): The enthusiasm to prove their English chops was seen on the faces of 291 children from different countries during a balmy Saturday morning here last week as they gathered to compete in the far east regional qualifier of Hippo's English Without Borders competition on July 5, 2025. Among them were children from Sarawak: Taiga Ling Ren Xing, Ethan Chua Jun Quan and Stella Chang Ching Yi from St Joseph's Private Schools, Kuching; Arman Abu Bakar from Sekolah Sri Knewton, Miri; Jared Lee Ren Lau from SJK Chung Hua No. 1, Kuching; and Jolyn Chiong Jia Hxuan from SJKC Su Tak, Sarikei. There were other children from Malaysia who were also vying to secure an opportunity to represent Malaysia in the academic competition's World Finals stage. Billed as a global academic English competition, Hippo, which started in 2013, is targeted at children between six to 19 years old who compete according to their age groups over four stages. Some 93,148 students from 3,208 schools across 73 countries participated in the competition this year, with the World Finals to be held from Sept 29 to Oct 1, 2025 in Assisi, Italy. Taiga made Sarawak proud when he clinched the gold medal in the Little Hippo category, thus securing his invitation to the World Finals. Six children from other Malaysian states also won their 'golden ticket' through scoring the best mark in their respective categories. They will join potentially 37 children from Malaysia, including two from Sarawak – Ronald Hu King Onn from SMK Chung Hua, Sibu; and Theodora Pei Ern Huei from SMK Merbau, Miri, who have already qualified to the World Finals during the contest's National Finals stage earlier. Taiga, who turns 10 this year, has attempted the competition three times thus far. 'I feel very excited (about winning); I'm not sure if I am ready for Italy but if they tell me to go, I'll go!' he said with great enthusiasm. Taiga clinched the gold medal in the Little Hippo category and secured a place in the World Finals. Gan Choon Keong from Caya Academy, which is the Malaysia and Singapore Hippo coordinator, said the Hippo English competition has grown in popularity in Malaysia since they introduced it to the country in 2020. Starting with just 3,000 participants in the first year, the competition has now attracted over 19,000 participants in 2025, making it one of the most well-received English language competitions that emphasises the Common European Framework of Reference for Languages (CEFR) standard, he said. Gan observed that as Hippo gained popularity in Malaysia, many participants returned to compete year after year even if they did not advance to the next round. 'Feedback from these participants shows that they see Hippo as a valuable opportunity to continue learning, improve their English proficiency, and enjoy their language learning journey,' he explained. 'Each year, through the Hippo World Final Round, over 40 top-performing participants from Malaysia qualify to compete in the Grand Final in Italy, joining other top English learners from more than 70 countries around the world.' Daniele Piacenti, a Hippo founder, explained that the Hippo competition started in Venice, Italy as it was seen as a neutral area for children from Western and Eastern European countries to gather and have a friendly competition at a time of heightened political tensions. By 2015, the competition had reached Abu Dhabi, and Asia by 2016. Piacenti further drew attention to the availability of scholarships, Hippo4Equity Grants, that are targeted at Hippo candidates from low socioeconomic backgrounds. These grants help enable disadvantaged children to participate in international Hippo events including the World Finals. Application details for Hippo4Equity Grants can be found at competition English Hippo lead Sarawak kids vietnam
