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The carrier’s estimated first event limit could increase 16%, to $1.35bn. -
The total cost for the program increased 1.8% from last year’s.
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The company’s upsized public offering priced at $30 per ordinary share.
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With plenty of reinsurance capacity, CEO Patel said it’s been a “boring year” for treaty negotiations.
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Shares were down as much as 20% after Hippo posted a $48mn loss.
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Hits to personal auto, workers’ compensation led to a drop in NWP.
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The deal will place the highest ever private valuation on a broking firm.
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The initial offering includes 6,875,000 shares of common stock.
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The Insurance Insider US news team runs you through the earnings results for the day.
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The preferred shares will mandatorily convert to common equity on an IPO.
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The offering launched last week with a valuation between $103mn and $116.8mn.
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The MGA market now makes up 10% of the overall P&C market.
