Insurance
Home›Insurance›Industry & Deals›Hippo swings to fifth straight profitable quarter and…
Hippo swings to fifth straight profitable quarter and lifts 2026 guidance
Gross written premium jumped 61.5% year over year to $482 million, and Hippo lowered its expected catastrophe loss ratio to 10% for 2026 from 13%.
Hippo Holdings, a technology-native insurance platform, reported net income of $10 million for the quarter ended June 30, 2026, up from $1 million a year earlier, marking its fifth consecutive quarter of profitability on both stated and adjusted measures, according to Insurance Business. The company said gross written premium rose 61.5% year over year to $482 million, with adjusted net income increasing 23.5% to $21 million, or $0.79 per diluted share. Revenue grew 23.4% to $145 million, supported by a 26% increase in net earned premium and higher investment, commission, and fee income. Hippo’s combined ratio improved four percentage points to 95.8%, driven mainly by an eight-point improvement in the expense ratio to 45.4%. The net loss ratio rose to 50.4% from 47.0%, which Hippo attributed to weaker favorable prior-year reserve development in the quarter compared with the prior year. Growth continued to come from lines outside its traditional homeowners base. Casualty premium rose 177% year over year to $180 million, while commercial multi-peril premium increased 65% to $138 million, and together they accounted for two-thirds of gross written premium; homeowners represented 22% of gross written premium. Hippo raised its full-year 2026 guidance for the second time this year, now expecting gross written premium of $1.65 billion to $1.7 billion and adjusted net income of $62 million to $70 million, and it cut its full-year combined ratio target to 99% to 101% from 103% to 105%, along with lowering its projected catastrophe loss ratio to 10% from 13%.