Hippo / Spinnaker 2020

Hippo Insurance acquired Spinnaker Insurance Company for $40M on August 4, 2020.

Target

Spinnaker Insurance Company

Acquirer

Hippo Insurance

Deal value

$40M

Deal type

Mixed

Announced

August 4, 2020

Sub-sector

Insurtech

Hippo acquires admitted P&C carrier licensed in all 50 states to gain its own underwriting capacity and reduce reliance on reinsurance partners.

Deal value

$40M

Target revenue

—

Target EBITDA

—

EV / Revenue

—

EV / EBITDA

—

Announcement

August 4, 2020

Close date

August 4, 2020

Acquirer

Hippo Insurance (Strategic)

Target HQ

United States

Deal type

Mixed

Sub-sector

Insurtech

Source: hippo.com