Hippo, a home insurance company, reported a 65% year-over-year revenue growth for Q3 2024, totaling $95 million, with total generated premium reaching $368 million. Despite facing an active hurricane season, the insurer significantly reduced its net loss to $8.5 million, an 84% decrease from the previous year. The company attributed the improved financial results to enhanced premium retention and strategic underwriting actions, which led to a notable drop in loss ratios. Additionally, Hippo sold a majority stake in First Connect Insurance Services to Centana Growth Partners to support its future growth endeavors.
