AM Best retains A- rating on Hippo balance sheet following SPAC merger
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AM Best retains A- rating on Hippo balance sheet following SPAC merger

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AM Best is maintaining the A- financial strength rating and stable outlook for Hippo’s balance sheet carrier Spinnaker Insurance Company, following the company’s merger with blank check vehicle Reinvent Technology Partners Z.

AM Best said it is planning “additional discussions” with the company’s management following the SPAC deal, which values Hippo at $5bn.

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