Hippo
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Simard joins Hippo after 10 years at American Family Enterprise, where he most recently served as associate vice president of property field and catastrophe claims. -
The homeowners-focused InsurTech slashed expenses, posted an improved gross loss ratio and reiterated guidance.
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According to the company’s chief insurance officer, it benefits from having multiple data sources on each policy.
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With New York, Hippo products now reach nearly 89% of the US population in 38 states.
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Following the acquisitions of Trov and Insureon, what InsurTech M&A deals are next?
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Inside P&C’s news team runs you through the key developments from the past week.
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Hippo’s stock has plunged 32% to around $2 per share this year, and nearly 80% since the company began trading publicly in August.
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The home insurance group’s GWP swelled 66% to $120.6mn from the prior year period.
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The next generation must stay private longer, employ a partnership approach to capital and take the complexities of insurance more seriously.
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Stock prices fluctuated, and InsurTech short-sellers took some profits.
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The InsurTech’s stock traded at $28.25 by midday Tuesday, down from its $163.93 peak in February 2021.
