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Hippo posts $10m Q2 net income as GWP jumps 61.5%
GWP rose to $482 million and the combined ratio improved to 95.8%, helped by stronger underwriting and program reinsurance changes that lifted net retention to 38%.
Hippo, a technology-native insurance group, reported second-quarter 2026 results showing net income of $10 million, up sharply from $1 million in the year-ago quarter. The insurer said the improvement was driven primarily by stronger underwriting performance and the continued benefit of scale, while adjusted net income rose to $21 million from $17 million.
Gross premium written increased 61.5% to $482 million, with growth supported by both its Casualty and Commercial Multi-Peril, CMP, lines. Casualty GWP rose to $180 million, up 177% year over year, while CMP grew to $138 million, up 65%, as overall GWP distribution was led by Casualty at 37%, CMP at 29% and Homeowners at 22%.
Hippo also reported that net written premium surged 71% to $183 million, outpacing GWP growth. It attributed the faster growth to a change in mix and a strategic modification to program reinsurance structure, which it said contributed about $21 million in CMP and $6 million in Casualty net written premium during the quarter.
The company said revenue rose 23% to $145 million, with higher net earned premiums accounting for $119 million and increases also coming from net investment income, commission income and service and fee income. Hippo’s combined ratio improved by 4 percentage points year over year to 95.8%, and it said quarter-end total net retention reached 38%, above its approximately 36% full-year projection.