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Mar 31, 2022
Hippo Holdings Q1 2022 Earnings Report
Hippo had a strong start to 2022, demonstrating growth and improved loss ratio.
Key Takeaways
Hippo's Q1 2022 results showed strong growth with a 25% increase in Total Generated Premium and a 44% increase in revenue. The Gross Loss Ratio improved significantly to 76%. The company ended the quarter with a strong financial position, holding $772 million in cash and investments.
Total Generated Premium grew 25% year-over-year.
Revenue increased by 44% compared to the prior year quarter.
Gross Loss Ratio improved to 76%, a 122 percentage point decrease year-over-year.
Hippo Homeowners premium retention rate remained high at 87%.
Hippo Holdings
Hippo Holdings
Forward Guidance
Hippo maintains its full year 2022 guidance, expecting TGP in the range of $800-820 million, Revenue in the range of $140-$142 million, and a Gross Loss Ratio below 100%.
Positive Outlook
- Expected TGP in the range of $800-820 million
- Revenue expected in the range of $140-$142 million
- Gross Loss Ratio expected to be below 100%
- Continued material improvement expected.
- Hippo is planning an Investor Day on September 6 in New York City