Hippo Holdings Q1 Net Income Rebounds to $7M as Premiums Jump 58%
HIPO•Hippo Holdings reported Q1 2026 net income of $7 million (0.27 per share) and adjusted net income of $17 million (0.65 per share), reversing prior-year losses. Gross written premium surged 58% to $332 million, combined ratio improved 60 points to 99.5%, and book value per share rose to $17.23.
1. Q1 Financial Turnaround
Hippo generated net income of $7 million (0.27 per share) and adjusted net income of $17 million (0.65 per share) in Q1 2026, reversing losses of $48 million and $35 million, respectively, in the year-ago quarter.
2. Premium and Revenue Growth
Gross written premium jumped 58% to $332 million, driven by 193% growth in Casualty and 89% in Commercial Multi-Peril lines; total revenue rose 10% to $122 million.
3. Underwriting Performance
The net loss ratio improved by 58 points to 48.0%, expense ratio fell to 51.5%, and combined ratio tightened by 60 points to 99.5%, reflecting lower catastrophe losses compared to the prior-year California wildfires.
4. Strategic Distribution and Technology
Hippo expanded its distribution network through a new relationship with Progressive alongside Westwood, leveraging its AI-enabled platform to scale homeowners product sales and drive long-term operational efficiencies.
