Updated
The most significant concentration Hippo Holdings discloses is single reinsurer (builder channel), classified HIGH by disclosed size. Below: the full set from the latest 10-K — verbatim quotes, filing references, and a synthesis of what these exposures mean together.
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Source: Hippo Holdings’s SEC Form 10-K filed — view the filing on SEC EDGAR ↗
Each card carries a disclosed-size chip (HIGH / MEDIUM / LOW — how large the exposure is as a share of revenue, not how dangerous it is) and a nature tag: Built-in(the company’s own model, geography, or products) or Outside party (an external customer, supplier, or distributor it relies on).
“10-K Item 1A: 'For business produced through our builder channel in 2025, we purchased proportional reinsurance from one third-party reinsurer and expect to retain approximately 85% of the premium and associated risk before purchasing catastrophe protection.'”
Hippo Holdings' disclosed concentration centers on a single counterparty dependency: for business produced through its builder channel in 2025, the company purchased proportional reinsurance from one third-party reinsurer, retaining approximately 85% of the premium and associated risk before catastrophe protection. This is a dependency-type exposure rather than a structural one — it reflects reliance on a specific counterparty relationship rather than the underlying business mix — and the filing flags it as a high-size share of that channel's reinsurance arrangement. Because the company already retains most of the risk and premium itself, the reinsurer's role is more about capacity and risk-sharing at the margin than a first-loss backstop, but reliance on a single reinsurer for that channel does create renewal and counterparty risk: if that relationship were disrupted, the builder channel could lose an important layer of protection. With only this one exposure disclosed, it stands as the primary concentration risk investors should track for Hippo, rather than one line among several competing factors.
For the engine’s reasoning on HIPO’s current verdict — including which dimensions drove the score — see the per-dimension breakdown.
| Symbol | Name | HIGH | MEDIUM | LOW | Total |
|---|---|---|---|---|---|
| ASIC | Ategrity Specialty Insurance Co | 2 | 1 | 1 | 4 |
| AIZ | Assurant, Inc. | 1 | 2 | 0 | 3 |
| ALL | Allstate Corporation (The) | 1 | 0 | 0 | 1 |
| HIPO● | Hippo Holdings Inc. | 1 | 0 | 0 | 1 |
| AFG | American Financial Group, Inc. | 0 | 0 | 2 | 2 |
| ACIC | American Coastal Insurance Corp | 0 | 0 | 0 | 0 |
Concentration counts reflect items disclosed in each peer’s most recent 10-K; disclosed-size classification uses TrendMatrix’s internal 10-K extraction taxonomy.