Hippo targets $2bn+ in GWP by 2028

At its 2025 Investor Day, Hippo unveiled a three-year strategic roadmap, setting 2028 financial targets that include gross written premiums exceeding $2 billion, adjusted net income above $125 million, and an adjusted return on equity greater than 18%.

Hippo has outlined its approach to creating shareholder value by diversifying its premium mix across personal and commercial lines and throughout the insurance value chain, capitalising on the secular growth of the home insurance market, and leveraging its expanding multi-line portfolio and risk management capabilities.

Rick McCathron, President and CEO of Hippo, commented, “We have built a stronger, more resilient business that holds up across market cycles, leveraging diversified exposure through risk participation with leading MGAs and other lines of business.

“Building on this momentum, we are confident our strategy will unlock sustainable, profitable growth, managed with discipline, that delivers long-term value for our shareholders.”

McCathron continued, “Since our 2022 Investor Day, we have exceeded our financial targets and evolved from a monoline homeowners insurance carrier with some fronting fee revenue into a scalable, best-in-class hybrid fronting platform.”

Hippo recently entered into an agreement with The Baldwin Group, under which Hippo will distribute its new-construction homeowners product through Baldwin’s subsidiary, Westwood Insurance Agency’s industry-leading homebuilder network, while Baldwin will acquire Hippo’s existing homebuilder distribution network for $100 million.

At the same time, Hippo’s hybrid fronting platform, Spinnaker, will reportedly build upon its decade-long support of Baldwin’s MSI Renters and MSI Homeowners programs by providing capacity to a broader range of Baldwin’s MGA programs.

On this, McCathron said, “This long-term agreement allows us to focus on what we do best—risk identification and selection, while providing an opportunity to accelerate the growth of our new homes business through Westwood’s industry-leading homebuilder network.

“We [Spinnaker] are also excited to build on our decade-long support of Baldwin’s MSI Renters and MSI Homeowners programs, as we provide capacity to a broader range of Baldwin’s MGA programs.”

Jim Roche, President, The Baldwin Group and CEO, Underwriting, Capacity, and Technology Operations, added, “We’ve developed a strong relationship with the Spinnaker team at Hippo over the past decade and are excited to expand that partnership to include additional programs.

“The addition of Hippo’s builder product will give Westwood even more capacity to support its builder clients in an otherwise challenging insurance market. This collaboration aligns with Westwood’s goal to ensure that obtaining insurance is the easiest part of buying a home.”

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