Hippo
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Hippo’s stock has plunged 32% to around $2 per share this year, and nearly 80% since the company began trading publicly in August. -
The home insurance group’s GWP swelled 66% to $120.6mn from the prior year period.
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The next generation must stay private longer, employ a partnership approach to capital and take the complexities of insurance more seriously.
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Stock prices fluctuated, and InsurTech short-sellers took some profits.
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The InsurTech’s stock traded at $28.25 by midday Tuesday, down from its $163.93 peak in February 2021.
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InsurTechs, including Lemonade, Root, Hippo, and Metromile, shed some short interest but remain the target of choice for short-sellers.
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The partnership should allow Hippo to expand its commercial lines HOA product into new markets.
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Lemonade, Root, and Metromile remain the focus of short sellers, as most firms see little short interest change.
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Lemonade and Root remain the focal points of short sellers, while Metromile’s stock loan fee rate increases (pending acquisition).
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The Week in Brief: FM Global’s vaccine mandate, Hippo on going public, Hagerty SPAC deal redemptionsInside P&C’s news team runs you quickly through the key developments from the last week.
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Richard McCathron said that Metromile’s fate does not concern him because InsurTechs are not made equal.
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Just over a quarter of shareholders voted to redeem shares as Aldel Financial took classic car underwriter public.
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