Hippo Q4 Earnings Call Highlights

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Sat, February 28, 2026 astatine 6:36 AM CST 9 min read

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Returned to GAAP profitability: Hippo posted full-year nett income of $58 million successful 2025 portion generating much than $1.1 billion of GWP (up 24%) and improving its combined ratio by astir 25 percent points.
Business premix and underwriting improvement: Casualty and commercialized multi-peril drove maturation (Q4 casualty GWP +169%, CMP +58%) and present each correspond ~24% of GWP, portion homeowners declined to 34% arsenic the institution retooled that enactment for profitability.
Ambitious 2026 guidance and 2028 targets: Management expects 2026 GWP of $1.4–$1.5 billion (27–36% growth), a nett combined ratio of 103–105%, adjusted nett income of $45–$55 million, and reiterated goals of >$2 cardinal GWP and $125 cardinal adjusted nett income by 2028.
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Hippo (NYSE:HIPO) executives highlighted a twelvemonth of premium growth, improving underwriting results, and a instrumentality to GAAP profitability during the company’s 4th fourth 2025 net call. Management said Hippo generated much than $1.1 cardinal of gross written premium (GWP) successful 2025 for the archetypal time, up 24% year-over-year, portion improving its combined ratio by 25 percent points and posting nett income of $58 cardinal for the year.

President and CEO Rick McCathron said the institution entered 2026 with “positive momentum” and reiterated assurance successful gathering oregon exceeding Hippo’s 2028 targets, which see much than $2 cardinal successful GWP, $125 cardinal of adjusted nett income, and an 18% adjusted instrumentality connected equity by the extremity of 2028.

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Chief Financial Officer Guy Zeltser said Hippo delivered “strong top-line premium growth, improved underwriting, and accrued profitability” successful the 4th quarter. Fourth-quarter GWP roseate 40% year-over-year to $288 million, portion full-year GWP accrued 24% to implicit $1.1 billion, driven chiefly by maturation successful casualty and commercialized multi-peril lines.

Net written premium (NWP) grew 23% year-over-year successful the 4th fourth to $97 cardinal and accrued 13% for the afloat twelvemonth to $422 million, with Zeltser noting that the NWP basal besides became much diversified.

Casualty: GWP grew 169% year-over-year successful Q4 and 92% for the afloat year, representing 24% of 2025 GWP.
Commercial multi-peril: GWP roseate 58% year-over-year successful Q4 and 75% for the afloat year, besides representing 24% of 2025 GWP.
Homeowners: GWP declined 5% year-over-year successful Q4 and fell 10% for the afloat year, accounting for 34% of 2025 GWP versus 47% successful 2024.