Hippo sells homebuilder distribution network to The Baldwin Group for $100M, unveils 2028 targets

Hippo Holdings Inc.

Baldwin's Westwood Insurance Agency will distribute Hippo's new construction product, tripling homebuyer reach.
Baldwin acquires Hippo's existing homebuilder distribution network for $100 million in cash.
2028 targets: GWP >$2B, adjusted net income >$125M, adjusted ROE >18%.
Spinnaker to expand capacity for additional Baldwin MGA programs beyond MSI Renters and Homeowners.

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