Hippo
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A vote on July 29 is expected to be less nerve-racking than once predicted, with investor appetite warming on the prospect of InsurTech SPAC mergers. -
The Inside P&C Research team looks at what subsectors the new class of InsurTechs is targeting.
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Hippo has announced a raft of new leadership appointments in a buildout of its top team.
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The SPACs merging with Hippo, Doma and Qomplx are all trading below the redemption price.
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Management should examine the relationship between company strategy, broader market cycles and short interest.
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Continued capital depletion could result in additional pressure on management teams with regard to executing their original business plans.
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Both InsurTech carriers have opted to go public through a merger with a blank check company this year.
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Hippo-owned insurer Spinnaker Insurance Company has recruited Torben Ostergaard, the former chief risk officer of USAA, as CEO.
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Although this period’s short-interest shift was muted, the next update will likely show greater movement as Q1 is digested.
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In the absence of macro and micro catalysts the short interest changes in the broader industry were muted.
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Short interest as a percent of float is a great indicator of current market sentiment.
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The report parses some of the more interesting aspects of going public through de-SPACing.
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