Hippo Holdings' Spinnaker Insurance Company Celebrates 10 Years of Innovation, Profitable Growth, and Service

BEDMINSTER, N.J., Oct. 21, 2025 /PRNewswire/ -- Spinnaker Insurance Company, a wholly owned subsidiary of Hippo Holdings and a provider of trusted property and casualty solutions for the program-insurance market, is celebrating its 10th anniversary.

As a testament to its strategic vision, the company has built a healthy and diversified risk portfolio. Its broad spectrum of business lines—ranging from renters to general liability insurance—serve more than one million policyholders.

Through the first half of 2025, Spinnaker wrote $510 million in gross written premium, growing 17% year-over-year, and had statutory capital of $223 million. Its strong performance demonstrates a commitment to strategic growth.

Supporting its strong financial position, AM Best has assigned the Spinnaker group of companies a Financial Strength Rating (FSR) of A- (Excellent) and a Long-Term Issuer Credit Rating (Long-Term ICR) of "a-" (Excellent).

The carrier delivers these results through exceptional risk and portfolio management, a team of highly talented underwriters, and advanced technology. These elements have enabled Spinnaker to become a trusted force in the industry and a strategic ally to its partners, helping them grow their businesses and quickly bring new solutions to the market.

"As we celebrate Spinnaker's 10-year anniversary, I want to thank our valued partners for trusting us to serve their customers," said Torben Ostergaard, President and CEO of Spinnaker. "That trust enables us to deliver tailored insurance solutions that foster partner growth. Ten years is an important milestone, but our focus remains on the long term—we're building a company designed to stand the test of time by continuously innovating to lead the market."

In addition to its commitment to unwavering partnership, Spinnaker has remained steadfast in its mission to deliver disciplined risk management, which has helped it achieve healthy, steady growth.

"Spinnaker has proven to be a significant contributor to Hippo's success in recent years, and its capabilities have been instrumental in building a healthy, diversified portfolio of insurance risk," said Rick McCathron, President and CEO of Hippo Holdings. "We're proud of all we've accomplished together and confident it will continue delivering profitable growth as we continue building the best-in-class carrier platform for the benefit of our program partners."

The program market has grown substantially over the last 10 years. The latest estimate showed that the MGA market premium was more than $100 billion at the end of 2024. Recent estimates suggest continued high single to low double-digit growth in this market in the foreseeable future.

About Spinnaker
Spinnaker Insurance Company, and its affiliates, is a national property and casualty insurer rated A- by A.M. Best Company. With the capacity to offer admitted insurance products in 50 states and jurisdictions, Spinnaker utilizes program administrators and managing general agents to access niche markets across personal, commercial, and specialty lines, as well as traditional and non-standard opportunities. Learn more at www.spinnakerins.com.

Press:
Mark Olson
press@hippo.com

SOURCE Hippo Holdings Inc.