Hippo Holdings Inc. reported significant financial improvements in its latest quarterly results, with net income reaching $98.1 million for the three months ended September 30, 2025, compared to a net loss of $8.5 million in the same period last year. This turnaround was driven by a 26% increase in total revenue, which rose to $120.6 million from $95.5 million, primarily due to a 41% increase in net earned premiums, which totaled $99.7 million. The company attributed this growth to an expansion in its Casualty and Commercial Multi-Peril lines of business, despite a decline in its Homeowners line.
In terms of operational metrics, Hippo's gross written premium for the third quarter was $311.2 million, a 33% increase from $234.4 million in the prior year. The company also reported a net written premium of $117.9 million, up 30% from $90.6 million. The increase in gross written premium was partially offset by a 34% rise in ceded written premium, which reached $193.3 million. The net loss ratio improved significantly to 48% from 73%, reflecting better underwriting performance and a decrease in catastrophe losses.
Strategically, Hippo completed the sale of its homebuilder distribution network to Westwood Insurance Agency for $100 million, which included a $95 million gain recognized in the current quarter. This sale is part of a broader strategy to streamline operations and focus on core insurance offerings. The company has also undergone organizational changes, consolidating its operations into a single reportable segment, which reflects a shift in how management evaluates performance and allocates resources.
As of September 30, 2025, Hippo's total assets increased to $1.87 billion, up from $1.54 billion at the end of 2024, driven by higher cash and investment balances. The company reported a total stockholders' equity of $421.5 million, an increase from $362.1 million, indicating a strengthening financial position. Looking ahead, Hippo anticipates continued growth in its premium volumes and improved profitability, although it remains cautious about market conditions and regulatory impacts that could affect its operations.
About Hippo Holdings Inc.
Hippo Holdings Inc. is an insurance holding company specializing in property and casualty insurance, primarily in the U.S. market. It offers home insurance, operates through three segments: Services, Insurance-as-a-Service, and Hippo Home Insurance Program. The company leverages technology, data, and a customer-centric approach to differentiate its full-stack platform, focusing on risk management, innovative distribution, and protecting the homeownership experience.
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