Hippo Holdings Inc. has completed the placement of its 2026 reinsurance program, effective June 1, 2026, securing meaningful protection, improving capital efficiency and introducing new features, including a whole-account quota share that enhances flexibility, with the firm describing the renewal as a “significant structural evolution”.
Hippo, a technology-native insurance group that uses its carrier platform to diversify risk across personal and commercial lines, said its 2026 program shifts from program-level reinsurance placements to a consolidated, corporate-level catastrophe structure that better reflects its approach to managing a diversified portfolio of insurance risks across its business.
The firm’s catastrophe protection program provides a first-event coverage limit of $513 million and an aggregate reinsurance coverage limit of $777 million.
Hippo explained that it secured coverage at a 15%–20% rate decrease relative to reinsurers’ risk-adjusted flat pricing, while reducing its net Probable Maximum Loss (PML) by 31%-36% across return periods ranging from the 20-year to the 100-year event.
According to the firm, all participating reinsurers are rated A- (Excellent) or better by A.M. Best, or are fully collateralised.
Hippo added, “The 2026 program reflects a significant structural shift, consolidating catastrophe reinsurance into a corporate-level group structure that protects the full enterprise.
“This approach directly supports Hippo’s strategy of managing risk as a diversified portfolio across lines of business, while also improving operational efficiency by reducing the number of separate renewal events.
“This evolution to portfolio level management, for the first time, allowed Hippo to place a whole account quota share that provides coverage for both property and casualty programs, which increases future growth optionality.
“The program also includes the previously disclosed renewal of Hippo’s Mountain Re catastrophe bond for a three-year term, which expanded this year to include wildfire.”
Read more on the Mountain Re Ltd. (Series 2026-1) issuance in the Artemis Catastrophe Bond and Insurance-linked Securities Deal Directory.
Rick McCathron, President and CEO of Hippo Holdings, commented, “This renewal is another reflection of how we’re building Hippo for the world as it is today — volatile, fast-moving, and unforgiving of companies that aren’t positioned to respond.
“Moving to a group catastrophe structure is the right architecture for a business that manages risk at the portfolio level, not program by program. We’ve secured meaningful protection, improved our capital efficiency, and brought in new tools like the whole account quota share that give us flexibility as we grow.”
