The company’s performance was bolstered by a sharp expansion in its Casualty and Commercial Multi-Peril lines, which grew by 177% and 65% respectively. This growth in underwriting volume, paired with improved operating leverage and expense discipline, allowed Hippo to achieve a combined ratio of 95.8%, a four-percentage-point improvement over the previous year. Revenue for the quarter hit $145 million, representing a 23.4% increase year-over-year.

CEO Rick McCathron attributed the results to the scalability of the company’s technology-native platform and its focus on diversifying risk. Following these results, the company raised its full-year 2026 guidance, now projecting gross written premiums to exceed $1.65 billion and adjusted net income to reach upwards of $70 million. The company reported a book value per share of $17.65, marking a 4% increase since the end of 2025.