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Hippo Holdings Reports 78% Gross Loss Ratio In Q2

Benzinga Real-time News ·  Aug 12, 2022 04:30

Second Quarter Highlights

Improving Quarterly Gross Loss Ratio

  • 78% Gross Loss Ratio
  • Substantial YoY improvement
  • Improving guidance to below 90% for the full year 2022

Continued Strong TGP Growth

  • 29% YoY growth in Q2 '22
  • Reducing full year guidance to $790-810 million, still up over 30% from 2021
  • Entered New York, Massachusetts, and North Carolina

Premium Retention Stable

  • 87% premium retention
  • Rate increases averaging in high teens

Strong Financial Position

  • $732M cash and investments at June 30, 2022
  • Spinnaker A- Rating (AM Best)
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