“We’re excited by the progress reported today, achieving significant growth while delivering our best quarterly gross loss ratio since our public listing," said Hippo co-founder and CEO Assaf Wand. “We believe by focusing on geographic expansion, attracting more homeowners who embrace proactive home protection through our omni-channel strategy, and continuously refining our risk models, we will deliver better outcomes for our customers and fuel Hippo’s success.”
First Quarter Highlights
Continued Strong Growth
- 25% YoY growth in 1Q22 Total Generated Premium (TGP)
- On track for full year guidance of $800-$820 million TGP
Revenue Ramped Up
- Revenue up 44% YoY
- Strong commission and fee growth
- Maintain full year guidance of $140-$142 million
Best Yet as a Public Company Gross Loss Ratio
- 76% Gross Loss Ratio
- Substantial improvement continues
- Expect full year Gross Loss Ratio below 100% versus 2021’s 138%
Strong Financial Position
- $772M cash and investments at March 31, 2022
- Spinnaker A- Rating (AM Best)