Hippo Set to Join Russell 2000® and Russell 3000® Indexes
24 June 2022 - 6:05AM
Business Wire
Hippo Holdings Inc. (NYSE: HIPO), the home insurance group
focused on proactive home protection, today announced that it is
set to join the broad-market Russell 3000® Index at the conclusion
of the 2022 Russell indexes annual reconstitution, effective after
the U.S. market opens on June 27, 2022, according to a preliminary
list of additions posted by FTSE Russell.
Annual Russell indexes reconstitution captures the 4,000 largest
U.S. stocks as of May 6, 2022, ranking them by total market
capitalization. Membership in the U.S. all-cap Russell 3000® Index,
which remains in place for one year, means automatic inclusion in
the large-cap Russell 1000® Index or small-cap Russell 2000® Index
as well as the appropriate growth and value style indexes. FTSE
Russell determines membership for its Russell indexes primarily by
objective, market-capitalization rankings and style attributes.
“We’re pleased for Hippo to be included in the Russell 3000®
Index, increasing our exposure to institutional investors and
broadening our shareholder base,” said Rick McCathron, Hippo’s CEO
and President. “Hippo continues to further its leadership in
proactive home protection.”
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $12 trillion in assets
are benchmarked against Russell’s U.S. indexes. Russell indexes are
part of FTSE Russell, a leading global index provider.
For more information on the Russell 3000® Index and the Russell
indexes reconstitution, go to the “Russell Reconstitution” section
on the FTSE Russell website.
About Hippo
Hippo’s goal is to make homes safer and better protected so
customers spend less time worrying about the burdens of
homeownership and more time enjoying their homes and the life
within. Harnessing real-time data, smart home technology, and a
growing suite of home services, we are creating the first
integrated home protection platform. Hippo is headquartered in Palo
Alto, California, with offices in Austin and Dallas, Texas, and
insurance products available to more than 80 percent of U.S.
homeowners in 38 states. Hippo Insurance Services is a licensed
property casualty insurance agent with commercial and personal
lines products underwritten by various insurance companies. For
more information, including licensing information, visit
http://www.hippo.com.
Forward-looking statement safe harbor
Certain statements included in this press release that are not
historical facts are forward-looking statements for purposes of the
safe harbor provisions under the United States Private Securities
Litigation Reform Act of 1995. Forward-looking statements generally
are accompanied by words such as “believe,” “may,” “will,”
“estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,”
“would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,”
“outlook,” and similar expressions that predict or indicate future
events or trends or that are not statements of historical matters.
These forward-looking statements include, but are not limited to,
statements regarding estimates and forecasts of financial results
and other operating and performance metrics, our business strategy,
the quality of our products and services, and the potential growth
of our business. These statements are based on the current
expectations of Hippo’s management and are not predictions of
actual performance. Actual events and circumstances are difficult
or impossible to predict and will differ from assumptions, and many
actual events and circumstances are beyond the control of Hippo.
These forward-looking statements are subject to a number of risks
and uncertainties, including our ability to achieve or maintain
profitability in the future; our ability to retain and expand our
customer base and grow our business, including our builder network;
our ability to manage growth effectively; risks relating to Hippo’s
brand and brand reputation; denial of claims or our failure to
accurately and timely pay claims; the effects of intense
competition in the segments of the insurance industry in which we
operate; the availability and adequacy of reinsurance, including at
current coverage, limits or pricing; our ability to underwrite
risks accurately and charge competitive yet profitable rates to our
customers, and the sufficiency of the analytical models we use to
assess and predict exposure to catastrophe losses; risks related to
our proprietary technology and our digital platform; outages or
interruptions or delays in services provided by our third party
providers, including our data vendor; risks related to our
intellectual property; the seasonal and cyclical nature of our
business; the effects of severe weather events and other natural or
man-made catastrophes, including the effects of climate change,
global pandemics, and terrorism; continued disruptions from the
COVID-19 pandemic; any overall decline in economic activity; and
the effects of existing or new legal or regulatory requirements on
our business, including with respect to maintenance of risk-based
capital and financial strength ratings, data privacy and
cybersecurity, and the insurance industry generally. If any of
these risks materialize or our assumptions prove incorrect, actual
results could differ materially from the results implied by these
forward-looking statements. There may be additional risks that
Hippo does not presently know, or that Hippo currently believes are
immaterial, that could also cause actual results to differ from
those contained in the forward-looking statements. In addition,
forward-looking statements reflect Hippo’s expectations, plans, or
forecasts of future events and views as of the date of this press
release. Hippo anticipates that subsequent events and developments
will cause Hippo’s assessments to change. However, while Hippo may
elect to update these forward-looking statements at some point in
the future, Hippo specifically disclaims any obligation to do so.
These forward-looking statements should not be relied upon as
representing Hippo’s assessments of any date subsequent to the date
of this press release. Accordingly, undue reliance should not be
placed upon the forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20220623005904/en/
Investors: Cliff Gallant, VP of Investor Relations
investors@hippo.com
Press: Mark Olson press@hippo.com
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