Latest news with #RickMcCathron
Yahoo
4 days ago
- Business
- Yahoo
Baldwin subsidiary to buy Hippo's homebuilder distribution network
Westwood Insurance Agency, an indirect subsidiary of the Baldwin Group, has agreed to acquire Hippo Holdings' homebuilder distribution network. This network generated revenues of approximately $29.2m in the most recent trailing 12-month period. The deal is contingent upon certain closing conditions, with an expected completion date of 1 July 2025. Additionally, Millennial Specialty Insurance (MSI), the managing general agency (MGA) of the Baldwin Group, has signed programme administrator and claims administration agreements with an affiliate of Hippo to establish a new homebuilder programme. This move is aimed at providing proprietary capacity for Westwood's builder partners. Baldwin Group CEO Trevor Baldwin said: 'As we continue to grow and innovate across the insurance value chain, we remain focused on maintaining and building strong relationships with our capacity partners, powering our continued insurance product innovation to support our clients amidst a rapidly evolving risk landscape. 'We look forward to our deepening relationship with the Hippo team and are excited about the opportunity to continue our growth trajectory via tech-enabled innovation.' Moreover, Hippo and its affiliates, including Spinnaker Insurance Company, will provide capacity and reinsurance support for existing and future programmes under MSI. Hippo president and CEO Rick McCathron stated: 'This long-term agreement with the Baldwin Group allows us to focus on what we do best – risk identification and selection, while providing an opportunity to accelerate the growth of our New Home business through Westwood's industry-leading homebuilder network. 'We [Spinnaker] are also excited to build on our decade-long support of Baldwin's MSI Renters and MSI Homeowners programmes, as we provide capacity to a broader range of Baldwin's MGA programmes.' In March, the Baldwin Group signed a note purchase agreement to raise $110m through surplus debentures to finance the launch of its reciprocal insurance exchange. "Baldwin subsidiary to buy Hippo's homebuilder distribution network " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
5 days ago
- Business
- Yahoo
Hippo Insurance pitches big comeback by 2028, CEO explains
Property insurance company Hippo Holdings (HIPO) hosted its 2025 investor day on Thursday. Coming off the event, Hippo CEO and President Rick McCathron sits down with Julie Hyman to speak more about the company's path to profitability and its fronting partnership with the Baldwin Insurance Group (BWIN). To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here. Hippo insurance, hosting its 2025 investor day today in New York City. Yahoo Finance's Julie Hyman is sitting down now with Hippo CEO and President Rick McCathron. Indeed, I'm out here with Rick McCathron and you guys were just talking about stocks that are outperforming the broader market this year. Hippo happens to be one of them. It's up about 10% and actually rose about 9% today in the wake of the investor day you guys were having. So thanks for being here, Rick. No, thank you so much, Julie, for having me. So you guys came out with some new targets today. They're targets that are pretty far out for 2028. Um I guess I would ask, and of course, a lot of companies do out-year planning, but why did you want investors to sort of have that further out roadmap that you gave them today? Yeah, a couple, couple of reasons for that. First of all, the last investor day we had was three years ago and we put three-year targets in place at that time. And one of the things we wanted to do today was to show everybody how we compared with the targets that we gave three years ago, and we were pleased to report that we beat all of the financial targets that we put forth. Insurance is the type of industry that sometimes takes a longer view to understand the trains, the changes, the trends and what you're doing. So we wanted to put the same type of three-year targets out and put those stakes in the ground, and we're the type of company when we put stakes in the ground, we do everything we can to hit them. Um, we haven't had a chance to catch up with Hippo in a while. So for folks who are watching, um I should mention first of all, you guys are not yet profitable. You hope to be going out to 2028 is my understanding on net income basis. Correct. Um, so and you are effectively an insurance startup. What makes Hippo different from the big insurance companies of the world? What's, you know, what is in that startup DNA? Yeah, and I think there's two different components in that startup DNA. And so what we have guided for 2025 is net income profitability this year. So we, in our fourth quarter. So we're driving towards that. What makes Hippo unique is two different aspects of our business and we shared this strategy during our investor day. The first aspect is our homeowners insurance program. Hippo has a modern approach to homeowners insurance, focusing on customers that are buying new homes and customers that want a partner to protect their home. And this is something that we focused on through the use of lots of technology, easy interfaces, both for the home builder, the home buyer and the customer. That's one aspect of our business. The second aspect of our business is insurance works well when you have diversified exposure. You spread that risk across different geographies and different product lines. And one of the portions of our business that we're most excited about is our fronting carrier. And a fronting carrier is an insurance company that partners with other smaller insurance organizations to bring all different types of products to market, and that creates a diversified portfolio to go alongside our homeowners insurance offering. Gotcha. And you announced a new partnership, right, today on the fronting front. Um so what is, what's the significance of that partnership? It's a really good partnership. It is with Baldwin Group, which is also a public company. Um what the partnership essentially allows both companies to do is for each of us to do what we do well. So there is a, a component of our business as I mentioned which is new homes. Baldwin has a subsidiary called Westwood that is the preeminent provider of new home insurance to consumers buying from the largest home builders in the country. We had a smaller version of that at Hippo, and what we decided to do collectively is to partner and say, you guys are great at working with builders, you should do that. We are great at building new insurance products for the modern consumer and we will do that portion of it. So now, between the two of us, we have access to 20 of the top 25 home builders and dozens of other home builders beyond that, and Baldwin is focusing on distribution, we are focusing on the underwriting. It has tripled our funnel for new home business. Gotcha. I want to take a step back for a minute because you guys went public through a de-SPAC in the go-go days of the SPAC and IPO boom, right? And so like so many companies, you saw the stock sort of spike and since then it's had, you know, it's come back to Earth so to speak. So what message do you want to sort of give to longer-term investors about what they can expect sort of growth-wise from a company like Hippo? Yeah, I appreciate the question. And the main message that we wanted to share is insurance generally is longer term. So the guidance that we gave today for three years is to double our written premium to over $2 billion, to 4X our adjusted net income to $125 million, and to create a return on equity of 18% or better. This type of financial performance shows the discipline of the earlier stage company, really hitting its stride on those positive financial aspects to benefit our investors. Okay, Rick, thanks so much for being here. Appreciate it. Thank you so much. Appreciate it. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Hippo Insurance pitches big comeback by 2028, CEO explains
Property insurance company Hippo Holdings (HIPO) hosted its 2025 investor day on Thursday. Coming off the event, Hippo CEO and President Rick McCathron sits down with Julie Hyman to speak more about the company's path to profitability and its fronting partnership with the Baldwin Insurance Group (BWIN). To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend here.
Yahoo
6 days ago
- Business
- Yahoo
Hippo Unveils Go-Forward Strategy and 2028 Financial Targets at 2025 Investor Day
Introduces 2028 financial targets of gross written premium greater than $2 billion, adjusted net income greater than $125 million, and adjusted ROE greater than 18% Announces a strategic partnership with The Baldwin Group's subsidiary, Westwood Insurance Agency to significantly expand the reach of Hippo's New Homes business Details strategic framework designed to deliver attractive returns through a diversified portfolio of risk anchored in core home offering SAN JOSE, Calif., June 12, 2025 /PRNewswire/ -- Hippo (NYSE: HIPO), the insurance group focused on proactive protection, is hosting its 2025 Investor Day today in New York City beginning at 9:00 a.m. ET. At the event, the Hippo leadership team will update the company's three-year roadmap and announce the details of a strategic partnership with The Baldwin Group (NASDAQ: BWIN). The event will be webcast live at "We have built a stronger, more resilient business that holds up across market cycles, leveraging diversified exposure through risk participation with leading MGAs and other lines of business," said Rick McCathron, President and CEO of Hippo. "Building on this momentum, we are confident our strategy will unlock sustainable, profitable growth, managed with discipline, that delivers long-term value for our shareholders." McCathron continued, "Since our 2022 Investor Day, we have exceeded our financial targets and evolved from a monoline homeowners insurance carrier with some fronting fee revenue into a scalable, best-in-class hybrid fronting platform." Strategy Building Blocks At today's event, Hippo will detail how the building blocks behind its strategy will drive significant value creation for its shareholders, including how the company is: Diversifying its premium mix across personal and commercial lines and the insurance value chain through Spinnaker, its integrated hybrid fronting platform; Capitalizing on the secular growth in the home insurance market through the Hippo Homeowners Insurance Program (HHIP), Spinnaker's anchor tenant MGA that offers a differentiated, tech-forward customer experience; and Harnessing its increasingly multi-line portfolio and risk management capabilities to modulate the degree and nature of risk participation levels across business lines to respond to market cycles. 2028 Financial Targets: The company is also introducing 2028 financial targets of: Gross written premium of greater than $2 billion Adjusted net income of greater than $125 million Adjusted return on equity of greater than 18% Strategic Partnership with The Baldwin Group On June 11, 2025, Hippo entered into an agreement with The Baldwin Group to form a strategic partnership. Under the terms of the agreement: Hippo will distribute its new construction homeowners product through Baldwin's subsidiary, Westwood Insurance Agency's industry-leading homebuilder network. This will allow Hippo to accelerate the growth of its New Homes business by accessing three times as many new construction homebuyers. Baldwin will purchase Hippo's existing homebuilder distribution network for $100 million. Hippo's hybrid fronting platform, Spinnaker, will build upon its decade-long support of Baldwin's MSI Renters and MSI Homeowners programs by providing capacity to a broader range of Baldwin's MGA programs. Rick McCathron, President and Chief Executive Officer of Hippo, remarked, "This long-term agreement allows us to focus on what we do best—risk identification and selection, while providing an opportunity to accelerate the growth of our new homes business through Westwood's industry-leading homebuilder network. We [Spinnaker] are also excited to build on our decade-long support of Baldwin's MSI Renters and MSI Homeowners programs, as we provide capacity to a broader range of Baldwin's MGA programs." "We've developed a strong relationship with the Spinnaker team at Hippo over the past decade and are excited to expand that partnership to include additional programs," said Jim Roche, President, The Baldwin Group and CEO, Underwriting, Capacity, and Technology Operations. "The addition of Hippo's builder product will give Westwood even more capacity to support its builder clients in an otherwise challenging insurance market. This collaboration aligns with Westwood's goal to ensure that obtaining insurance is the easiest part of buying a home." At Hippo's Investor Day, McCathron will be joined by Jim Roche to share more details about the strategic partnership between the companies. Full details of the partnership will be published on a form 8-K with the United States Securities and Exchange Commission. A live webcast and accompanying materials will be available at Information about Key Operating Metrics/Non-GAAP Financial Measures In this press release we use certain Non-GAAP financial measures, such as Adjusted Net Income and Adjusted Return on Equity. 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 alternatives 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 counterparts is included in the investor day materials available at We believe that these non-GAAP measures of financial results provide useful supplemental information to investors about Hippo. We define adjusted net income (loss) as net income (loss) attributable to Hippo 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 (loss) 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 (loss) does not reflect the overall profitability of our business and should not be viewed as a substitute for net income (loss) attributable to Hippo calculated in accordance with GAAP. Other companies may define adjusted net income (loss) differently. We define Adjusted Return on Equity 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 using unadjusted GAAP numbers, and other companies may define adjusted return on equity differently. 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; continued disruptions from the COVID-19 pandemic; 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 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 About Westwood Insurance Agency Established in 1952, Westwood Insurance Agency LLC is a leading, full-service personal lines agency specializing in builder-sourced homeowners insurance and an indirect subsidiary of The Baldwin Group, the brand name for The Baldwin Insurance Group, Inc. ("Baldwin") (NASDAQ: BWIN). Licensed in all 50 states, Westwood has served more than one million homeowners through relationships with leading U.S. homebuilders and top insurance companies. Westwood's unique platform facilitates seamless home closings by connecting builders, carriers, lenders and homebuyers with click-to-bind technology. For more information, please visit About MSI MSI, the brand name for Millennial Specialty Insurance, LLC, is one of the largest independent managing general agencies (MGAs) in the United States and an indirect subsidiary of The Baldwin Group, the brand name for The Baldwin Insurance Group, Inc. ("Baldwin") (NASDAQ: BWIN). Offering more than 20 insurance products and solutions across personal, commercial, and professional lines, MSI thrives on solving challenges, delivering responsive service, and providing an easy insurance experience to its distribution partners and more than 1.5 million customers. Combining deep underwriting expertise with (re)insurer risk capacity, MSI creates specialized insurance solutions that empower our distribution partners to meet customers' unique needs. MSI is committed to delivering exceptional service and rapid resolutions to customers throughout the policy lifecycle and to building insurance better. Founded in 2015, MSI joined The Baldwin Group in 2019. For more information, please visit About The Baldwin Group The Baldwin Group, the brand name for The Baldwin Insurance Group, Inc. (NASDAQ: BWIN) and its affiliates, is an independent insurance distribution firm providing indispensable expertise and insights that strive to give our clients the confidence to pursue their purpose, passion, and dreams. As a team of dedicated entrepreneurs and insurance professionals, we have come together to help protect the possible for our clients. We do this by delivering bespoke client solutions, services, and innovation through our comprehensive and tailored approach to risk management, insurance, and employee benefits. We support our clients, colleagues, insurance company partners, and communities through the deployment of vanguard resources and capital to drive our organic and inorganic growth. The Baldwin Group proudly represents more than three million clients across the United States and internationally. For more information, please visit Contacts Investors: Sammy Ng investors@ Media: Mark Olson press@ View original content to download multimedia: SOURCE Hippo Analytics, Inc Sign in to access your portfolio
Yahoo
06-03-2025
- Business
- Yahoo
Hippo Reports Fourth Quarter 2024 Financial Results
PALO ALTO, Calif., March 6, 2025 /PRNewswire/ -- Hippo (NYSE: HIPO), the home insurance group focused on proactive home protection, today announced its consolidated financial results for the three months that ended December 31, 2024. "Hippo delivered $8.5 million in positive adjusted EBITDA in Q4 2024, surpassing all expectations," said Hippo President and CEO Rick McCathron. "A nearly 30-point improvement in our gross loss ratio in 2024 and the further streamlining of our operations contributed to our most successful year to date. We accomplished all of this while nearly doubling our revenue, and our focus is now on turning net income profitable by Q4 2025." Hippo's preliminary pre-tax estimate of catastrophe losses from the wildfires in Los Angeles in January, including assessments from the California FAIR Plan and net of subrogation, is approximately $42 million, with $30 million attributed to the Hippo Home Insurance Program and $12 million related to non-Hippo programs supported by Spinnaker. None of the losses were associated with the company's fastest-growing channel, the Hippo New Homes Program, which offers homebuilders access to insurance products specifically designed for new homes from Hippo and a panel of carrier partners. The channel represents a substantial majority of the new business Hippo has written in California over the past few years. "As a native of Southern California, these events are deeply personal to me," added McCathron. "I am proud of Hippo's quick and compassionate response—arranging temporary housing, offering accelerated payouts, and collaborating with our builder partners to find ways to shorten the rebuilding process." 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 Fourth Quarter Highlights Strong Top-line Growth; Favorable Mix-Shift Q4 Revenue up 58% YoY to $102 million; FY2024 Revenue up 77% to $372 million Pro-forma for the First Connect transaction, Consolidated TGP up 16% YoY, driven by Insurance-as-a-Service ("Iaas") which grew 22% Continued Improvement of HHIP Loss Ratio HHIP Q4 gross Loss Ratio improved 3pp YoY to 50%, with HHIP non-PCS loss ratio at 43%, and HHIP PCS loss ratio at 7% HHIP FY2024 Gross Loss Ratio improved 28pp to 73% HHIP Net Loss Ratio improved 46pp YoY to 60% Improving Operating Leverage Investments in operational efficiencies continued to pay off as fixed expenses lowered by $8 million while revenue increased by $38 million YoY Sales & Marketing, Technology & Development, and General & Administrative expenses collectively declined by 34pp of revenue YoY, from 69% of revenue in Q4'23 to 35% in Q4'24 Significant Step Forward on our Path to Profitability Q4 Net Income attributable to Hippo of positive $44 million, vs. Net Loss of $42 million in Q4 of last year; Gain on Sale of First Connect contributed $46m Q4 adjusted EBITDA of positive $8.5 million vs. Adjusted EBITDA loss of $22 million in Q4 of last year Financial Strength Cash and investments, excluding restricted cash, increased $25 million QoQ to $571 million Spinnaker surplus of $204 million, up from $191 million a year ago Conference Call and Webcast Information Date: Thursday, March 6, 2025Time: 8:00 a.m. Eastern Time / 5:00 a.m. Pacific TimeDial In: +1 833 470 1428 (U.S.) / Global Dial-In NumbersConf ID: 827436Webcast: 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 MeasuresWe 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 TGP as the aggregate written premium placed across all of our business platforms for the period presented. We measure TGP as it reflects the volume of our business irrespective of choices related to how we structure our reinsurance treaties, the amount of risk we retain on our own balance sheet, or the amount of business written in our capacity as an MGA, agency, or as an insurance carrier/reinsurer. 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. This Non-GAAP financial measure is 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 this Non-GAAP financial measure to its 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 harborCertain 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; continued disruptions from the COVID-19 pandemic; 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 HippoHippo is protecting the joy of homeownership, helping to safeguard customers' most important financial asset by harnessing the power of real-time data and a growing suite of home services to deliver proactive home protection. Hippo Holdings Inc. operating subsidiaries include Hippo Insurance Services, Hippo Builder Insurance Agency, Hippo Home Care, Spinnaker Insurance Company, Spinnaker Specialty Insurance Company, and Wingsail Insurance Company. Hippo Insurance Services and Hippo Builder Insurance Agency are licensed property casualty insurance agents with products underwritten by various affiliated and unaffiliated insurance companies. For more information, visit ContactsInvestors:Sammy NgInvestors@ Press:Mark Olsonpress@ View original content to download multimedia: SOURCE Hippo Analytics, Inc Sign in to access your portfolio
