Insurtech Hippo posted third quarter 2025 internet revenue of $98 million in contrast with a internet lack of $9 million a 12 months in the past throughout the identical interval.
San Jose, California-based Hippo’s Q3 mixed ratio improved to 100—a 28-point enchancment from Q3 2024.
President and CEO Rick McCathron known as Q3 a “breakout quarter.”
“We’re working as a unified, technology-native platform that’s driving worthwhile progress, deepening diversification, and positioning us for long-term success,” he mentioned in an announcement.
Internet revenue in Q3 was primarily pushed by a $91 million internet acquire on the sale of its homebuilder distribution community to The Baldwin Group, closed in Q3. Hippo additionally bought its majority stake in First Join within the fourth quarter 2024.
Internet written premium grew 30% to about $118 million. Hippo mentioned the renters insurance coverage line was the principle driver, with progress of $18 million 12 months over 12 months. Renters now includes 22.4% of Hippo’s internet premiums, up from 9.6% right now a 12 months in the past. Business multiperil additionally makes up extra of Hippo’s guide of enterprise, rising in Q3 to account for 11.5% of premiums from 2.5% in Q3 2024.
Associated: Hippo: From Residence Insurance coverage to Hybrid Service Powerhouse
Subjects
InsurTech
Revenue Loss
Tech
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