Hippo places 2023 reinsurance on improved terms; retains ~40% of premium

Hippo Holdings Inc.

Retains approximately 40% of premium and losses through insurance subs and captive.
Increased per-occurrence XOL limit by 32%; protected beyond 1-in-250 year event.
Reduced loss participation features; overall catastrophic exposure similar to prior year.
Panel of six third-party reinsurers, all rated A- or better or collateralized.
CEO says terms better than prior year despite one of the most difficult reinsurance markets in 20 years.

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