Hippo Holdings Inc. (HIPO) SEC Filings & Earnings Calls

Catastrophe loss exposure

“The Company's catastrophe reinsurance program has an occurrence limit of $512.9 million and an aggregate limit of $776.9 million.”

Geographic concentration in catastrophe-prone states

“California (18%), Texas (18%), Florida (12%) represent significant portions of GWP.”

Reinsurance counterparty risk

“The Company remains ultimately responsible for policyholder claims should a reinsurer fail to perform.” · word for word

Net loss ratio increased 3.4 points due to lower favorable prior-year development; CAT loss ratio guidance reduced to 10% from 13%.

“Net loss ratio of 50.4% increased 3 percentage points over the prior year. This change was largely driven by the prior year period benefiting from 7% favorable prior year development compared to 2% of favorable development this quarter.” · word for word

Net retention rate declined to 31% due to one-time unearned premium adjustment; expected to normalize.

“The 31% net retention rate in the quarter was slightly below our full-year guidance, and driven primarily by the one-time unearned premium adjustment noted above.” · word for word

Dependence on distribution partnerships (Progressive, Westwood) introduces execution risk.

“The launch of our strategic distribution relationship with Progressive, when—combined with our existing Westwood partnership —creates a truly differentiated distribution network” · word for word

Catastrophe loss exposure

“The Company’s catastrophe reinsurance program supports property risks underwritten by us on behalf of our MGA and third-party MGAs.” · word for word

Reinsurer credit risk

“Nevertheless, the Company remains ultimately responsible for policyholder claims should a reinsurer fail to perform.” · word for word

Regulatory compliance cost

“Our efforts to comply with new or existing cybersecurity regulations could impose significant costs on our business, which could materially and adversely affect our business, financial condition or results of operations.” · word for word

Catastrophe loss exposure

“Catastrophe models use historical information and scientific research about natural events, such as hurricanes and earthquakes, as well as detailed information about our in-force business.” · word for word

Interest rate sensitivity

“Any future increases in interest rates could cause the values of our fixed income securities portfolios to decline, with the magnitude of the decline depending on the duration of securities included in our portfolio and the amount by which interest rates increase.” · word for word

Dependence on CAT loss absence for profitability; future CAT events could reverse gains.

“improvement was driven primarily by the lack of meaningful CAT losses this quarter compared to Q3 of last year” · word for word

Net retention rate below long-term target of 40-45% at 38%.

“The 38% net retention rate in the quarter was largely in-line with the prior year period, and slightly below the longer term goal of 40-45%” · word for word

California concentration risk

“California represented 21.5% of gross written premium for the three months ended September 30, 2025.”

Reinsurance counterparty risk

“The Company remains ultimately responsible for policyholder claims should a reinsurer fail to perform.” · word for word

Catastrophe loss exposure

“The Company's catastrophe reinsurance program supports property risks... covering up to at least a 1-in-250-year return period threshold.” · word for word