Hippo’s Q4 GWP Surges 40% to $288M, Eyes $1.4–$1.5B in 2026
Hippo’s Q4 gross written premium rose 40% to $288 million, lifting full-year GWP 24% to $1.1 billion. The insurer returned to GAAP profitability with net income of $58 million, improved its combined ratio by 25 points to 113%, and set 2026 GWP guidance of $1.4–$1.5 billion.
1. Q4 and Full-Year GWP Growth
Hippo’s Q4 gross written premium rose 40% to $288 million, driven by 169% casualty growth and 58% commercial multi-peril expansion, while full-year GWP climbed 24% to over $1.1 billion. Net written premium grew 23% in Q4 to $97 million and 13% for 2025 to $422 million.
2. Profitability and Combined Ratio Improvement
The company posted Q4 net income of $6 million and full-year net income of $58 million, marking a return to GAAP profitability. Underwriting improvements cut the combined ratio by 25 percentage points to 113% for 2025, with Q4 turning a net combined ratio of 99.4%.
3. 2026 Guidance and Long-Term Targets
Management forecasts 2026 GWP of $1.4–$1.5 billion, a net combined ratio of 103–105%, and adjusted net income of $45–$55 million. Leadership reaffirmed 2028 goals of over $2 billion in GWP, $125 million of adjusted net income, and an 18% adjusted return on equity.