Hippo debuts on NYSE

Hippo debuts on NYSE | Insurance Business America

Hippo debuts on NYSE

Home insurance company Hippo has announced its listing as a public company on the New York Stock Exchange. Hippo debuted on the NYSE Tuesday.

Hippo, founded in 2015, uses real-time data, smart-home technology and a suite of home services to create what it calls the first vertically integrated, end-to-end home protection and insurance platform. Hippo announced in March that it intended to go public via a merger with Reinvent Technology Partners Z, a special-purpose acquisition company. The company has an enterprise value of $5 billion.

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Home insurance is a $105 billion market, and is expected to hit nearly $140 billion by 2025. Hippo expects its home insurance products to reach 90% of the US by the end of the year.

Hippo also recently announced an expansion into commercial insurance.