Hippo
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The decision to pull back from some business in the meantime will cause “additional [total gross premium] declines in 2024,” the executive said. -
The Inside P&C news team runs you through the earnings results for the day.
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The decision is expected to incur charges of approximately $2.2mn to $2.7mn for severance, benefits and related costs in cash expenditures during Q4 2023, the company wrote in a regulatory filing.
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In August 2022, the company announced plans to cut around 10% of its staff in a bid to improve efficiencies amid challenging market conditions for InsurTechs.
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Sources said the fronting company has drawn the interest of private equity firms, including Summit Partners.
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Inside P&C’s news team brings you all the top news from the week.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Worsening results in key states and belated rate action weigh against a shifting business model, making the path to profitability unclear.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The shareholders are among the company’s top 10 largest and hold nearly 2.5% of outstanding shares.
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