Hippo Holdings Inc. reported a strong finish to 2025, characterized by significant growth in gross written premium and a substantial improvement in underwriting profitability, leading to positive net and adjusted income for both the quarter and the full year. The company is strategically diversifying its business lines and is confident in achieving its long-term growth and profitability targets.
Gross Written Premium increased 40% to $288 million in Q4 2025 compared to Q4 2024, driven by strong growth in Casualty and Commercial Multi-Peril lines.
positiveNet Income attributable to Hippo was $6 million in Q4 2025, compared to a net loss in Q4 2024, and $58 million for the full year 2025 compared to a net loss in 2024.
positiveCombined Ratio improved 8 percentage points to 99% in Q4 2025 and 25 percentage points to 113% for the full year 2025, indicating improved underwriting performance.
positiveBook Value per share increased 17% to $16.97 from year-end 2024.
positiveHomeowners line gross written premium decreased 5.3% to $91 million in Q4 2025 and 10.4% to $379 million for the full year 2025.
attentionNet retention decreased to 34% in Q4 2025 from 39% in Q4 2024, and to 38% for the full year 2025 from 42% in 2024.
attentionExpense Ratio increased to 53.5% in Q4 2025 from 49.2% in Q4 2024, primarily due to the home builder network sale and a one-time CAT allowance chargeback in 4Q24.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Homeowners | N/A | — | — | — |
Renters | N/A | — | — | — |
Commercial Multi-Peril | N/A | — | — | — |
Casualty | N/A | — | — | — |
Other | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
Closed 2025 with strong momentum, evidenced by 40% gross written premium growth, positive net and adjusted income, and an underwriting profit in the fourth quarter.
Excited about Hippo's prospects for increased diversification, strong growth, and continued improvement in profitability in 2026.
Progress reflects team's efforts over the last several years, exemplified by the relaunch of our homeowners business outside of builders with select partners.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.