Hippo Holdings Completes Successful 2026 Reinsurance Renewals

"This renewal is another reflection of how we're building Hippo for the world as it is today — volatile, fast-moving, and unforgiving of companies that aren't positioned to respond," said Rick McCathron, President and CEO of Hippo Holdings. "Moving to a group catastrophe structure is the right architecture for a business that manages risk at the portfolio level, not program by program. We've secured meaningful protection, improved our capital efficiency, and brought in new tools like the whole account quota share that give us flexibility as we grow."

Highlights of the 2026 Reinsurance Program

Hippo's 2026 program reflects a significant structural shift, consolidating catastrophe reinsurance into a corporate-level group structure that protects the full enterprise. This approach directly supports Hippo's strategy of managing risk as a diversified portfolio across lines of business, while also improving operational efficiency by reducing the number of separate renewal events. This evolution to portfolio level management, for the first time, allowed Hippo to place a whole account quota share that provides coverage for both property and casualty programs which increases future growth optionality.

The program also includes the previously disclosed renewal of Hippo's Mountain Re catastrophe bond for a three-year term, which expanded this year to include wildfire.

Catastrophe Protection Details

• First event coverage limit of $513 million
• Aggregate reinsurance coverage limit of $777 million
• Secured coverage at a 15%–20% rate decrease relative to reinsurers' risk-adjusted flat pricing
• Reduction in net Probable Maximum Loss (PML) between 31% and 36% across Hippo Holdings' return periods from the 20-year to the 100-year
• All reinsurers are rated A- (Excellent) or better by A.M. Best, or are fully collateralized

About Hippo

Hippo is a technology-native insurance group that uses its carrier platform to diversify risk across both personal and commercial lines. Through the Hippo Homeowners Insurance Program, the company applies deep industry expertise and advanced underwriting to deliver proactive, tailored coverage for homeowners. Hippo Holdings Inc. subsidiaries include Hippo Insurance Services, Spinnaker Insurance Company, Spinnaker Specialty Insurance Company, and Wingsail Insurance Company. Hippo Insurance Services is a licensed property casualty insurance agent with products underwritten by various affiliated and unaffiliated insurance companies. For more information, please visit http://www.hippo.com.

Cautionary Note Regarding Forward-Looking Statements

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding Hippo's 2026 reinsurance program and its structure, the expected coverage, limits, and protection provided by the program, anticipated reductions in net Probable Maximum Loss, the participation of RH Solutions (Cayman) Ltd., and the Company's strategy, capital efficiency, growth, and future operations. These statements constitute projections, forecasts, and forward-looking statements, and are not guarantees of performance. Such statements can be identified by the fact that they do not relate strictly to historical or current facts.

Forward-looking statements generally are accompanied by words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "future," "intend," "may," "might," "outlook," "plan," "possible," "potential," "predict," "project," "seek," "seem," "should," "strive," "will," "would," and similar expressions that predict or indicate future events or trends or that are not statements of historical matters, but the absence of these words does not mean that a statement is not forward-looking.

These statements are based on the current expectations of Hippo's management and are not predictions of actual performance. You should not rely upon forward-looking statements as predictions of future events. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions, and many actual events and circumstances are beyond the control of Hippo. These forward-looking statements are subject to a number of risks, uncertainties, and other factors, including those set forth in the sections entitled "Risk Factors" in the Company's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, and in other documents filed by the Company from time to time with the Securities and Exchange Commission. In particular, Hippo's ability to maintain reinsurance contracts and its near- and long-term strategies and expectations with respect to the availability, adequacy, coverage, limits, pricing, and cession of insurance risk, and the sufficiency of the analytical models it uses to assess and predict exposure to catastrophe losses, are subject to significant risks and uncertainties.

These forward-looking statements are based on information available as of the date of this press release and reflect Hippo's expectations, plans, forecasts, and views of future events as of that date. Hippo does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Contacts

Investors:

Charles Sebaski

Investors@hippo.com

Press:

Mark Olson

press@hippo.com

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SOURCE Hippo Holdings Inc.