Hippo Considers IPO as It Picks Up Another $350 Million

Luisa Beltran

Hippo Insurance, the well-known insurtech that offers homeowners insurance, has raised fresh capital as it weighs going public next year. (8725) a subsidiary of MS&AD Insurance Group Holdings (ticker: MSADY), has invested $350 million in the firm in the form of a convertible note. The note will convert to equity when Hippo does another financing round, or is sold through an acquisition or a public offering, said Rick McCathron, Hippo’s president.