Insurtech Hippo posted third quarter 2025 internet revenue of $98 million in contrast with a internet lack of $9 million a yr in the past throughout the identical interval.
San Jose, California-based Hippo’s Q3 mixed ratio improved to 100—a 28-point enchancment from Q3 2024.
President and CEO Rick McCathron known as Q3 a “breakout quarter,” recording a revenue for the primary time.
“We’re working as a unified, technology-native platform that’s driving worthwhile development, deepening diversification, and positioning us for long-term success,” he mentioned in a press release.
Internet revenue in Q3 was primarily pushed by a $91 million internet acquire on the sale of its homebuilder distribution community to The Baldwin Groupclosed in Q3. Hippo additionally bought its majority stake in First Join within the fourth quarter 2024.
Internet written premium grew 30% to about $118 million. Hippo, the provider for over 30 MGA applications within the U.S., mentioned the renters insurance coverage line was the principle driver, with development of $18 million yr over yr. Renters now includes 22.4% of Hippo’s internet premiums, up from 9.6% presently a yr in the past. Industrial multiperil additionally makes up extra of Hippo’s ebook of enterprise, rising in Q3 to account for 11.5% of premiums from 2.5% in Q3 2024.
Associated: Hippo: From Dwelling Insurance coverage to Hybrid Provider Powerhouse
Subjects
InsurTech
Revenue Loss
Tech
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