The investment solidifies the strategic partnership between the two companies, which began with MS&AD Ventures’ initial investment in Hippo’s Series E funding round in July, 2020.
homeowners population in the next year, as well as providing additional capital for its insurance and reinsurance companies. The investment will support Hippo’s product roll out in additional states, to reach 95 percent of the U.S.
Through this partnership, Takashi Sato, a managing partner of MS&AD Ventures, the corporate venture capital fund of MS&AD Insurance Group Holdings, will join Hippo’s board of directors as an observer. PALO ALTO, Calif.-( BUSINESS WIRE)-Hippo Enterprises, the high-growth insurtech group that’s transforming home insurance, announced a capital investment of $350 million from Mitsui Sumitomo Insurance Company, Limited, a subsidiary of MS&AD Insurance Group Holdings, Inc.