According to Hippo Holdings Inc. (NYSE: HIPO), the technology-native insurance platform reported a net income of $10 million, or $0.38 per diluted share, for the quarter ended June 30, 2026. This figure marks a significant increase from the $1 million reported in the same period of 2025, driven by improved underwriting performance and ongoing scaling benefits across the platform.
Gross Written Premium Growth Across Lines
According to Hippo President and CEO Rick McCathron, gross written premium for the quarter reached $482 million, representing a 61.5% increase over the $299 million recorded in the second quarter of 2025. This expansion was heavily anchored by the Casualty and Commercial Multi-Peril (CMP) lines, which saw year-over-year surges of 177% and 65% respectively, totaling $180 million for Casualty and $138 million for CMP.
The company’s portfolio diversification strategy aims to reduce volatility while improving overall underwriting profitability. During the quarter, Casualty accounted for 37% of gross written premium, while Commercial Multi-Peril comprised 29% and Homeowners made up 22%. Net written premium climbed 71% to $183 million, outpacing gross growth due to program reinsurance structure adjustments that added approximately $21 million in CMP and $6 million in Casualty.
Did you know? Hippo’s net retention rate for the quarter hit 38%, outperforming the company’s full-year guidance of approximately 36% due to strategic shifts in its reinsurance program structures.
Revenue and Underwriting Performance Metrics
Total revenue for the quarter rose 23.4% to $145 million compared to $117 million in the second quarter of 2025, according to financial disclosures released by the company. Net earned premium climbed 26% to $119 million, supplemented by gains in net investment income, commission income, and service and fee income.
On the underwriting side, the company’s combined ratio improved by 4 percentage points year-over-year to 95.8%. The net loss ratio stood at 50.4%, up slightly from 47.0% in the prior-year period largely due to lower prior-year reserve development. Meanwhile, the expense ratio dropped 8 percentage points to 45.4%, reflecting tightening operating leverage and disciplined expense management.
Revised Full-Year 2026 Guidance
Bolstered by strong mid-year performance, management raised its financial outlook for the full year 2026. According to company projections, Hippo now expects to generate over $1.65 billion in gross written premium and upwards of $70 million in adjusted net income, up from earlier forecasts of $1.45 – $1.525B in gross written premium and $48 – $56M in adjusted net income.
Pro Tip for Investors
When tracking technology-native insurers like Hippo, watch the combined ratio alongside non-GAAP metrics like adjusted net income. A combined ratio consistently below 100%—such as Hippo’s 95.8% reported this quarter—indicates profitable core underwriting operations before investment returns are even factored in.
Frequently Asked Questions
What was Hippo’s net income for the second quarter of 2026?
According to Hippo’s financial report, the company posted a net income of $10 million, or $0.38 per diluted share, for the quarter ended June 30, 2026.
Which business lines drove Hippo’s premium growth?
Growth was primarily driven by the Casualty and Commercial Multi-Peril lines, which increased by 177% and 65% year-over-year to reach $180 million and $138 million, respectively.
What is Hippo’s updated guidance for the full year 2026?
The company raised its full-year 2026 expectations to anticipate over $1.65 billion in gross written premium and more than $70 million in adjusted net income.
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