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Business Combinations (Tables)
 12 Months Ended
Dec. 31, 2025
Business Combination [Abstract]  
Schedule of Business Acquisitions
The table below provides a summary of the total consideration and the estimated purchase price allocations made for each of the business acquisitions that became effective during the year ended December 31, 2025.
(in thousands)MultiStratHippo’s Homebuilder Distribution NetworkTotals
Cash consideration paid$12,054 $75,345 $87,399 
Fair value of contingent earnout consideration8,470 — 8,470 
Fair value of equity interest863 — 863 
Deferred payment2,901 29,445 32,346 
Total consideration$24,288 $104,790 $129,078 
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash$355 $1,533 $1,888 
Assumed premiums, commissions and fees receivable12,190 1,331 13,521 
Other assets1,687 999 2,686 
Intangible assets7,167 111,190 118,357 
Accrued expenses and other current liabilities(3,427)(852)(4,279)
Contingent earnout liability— (9,977)(9,977)
Total identifiable net assets acquired17,972 104,224 122,196 
Noncontrolling interest in partnership— (97,920)(97,920)
Goodwill6,316 98,486 104,802 
$24,288 $104,790 $129,078 
Maximum potential contingent obligations$16,500 
(1)
(1)
__________
(1)    Hippo’s Homebuilder Distribution Network has an uncapped earnout related to a previous business combination based on legacy account revenue.
Schedule of Weighted-Average Useful Lives of Intangible Assets Acquired in Business Combinations
The intangible assets acquired in connection with the partnerships have the following values and estimated weighted-average lives:
(in thousands, except weighted-average lives)AmountWeighted-
Average Life
Acquired relationships(1)
$117,070 10.0 years
Trade names550 5.0 years
Software(2)
737 
__________
(1)    Includes $111.2 million relating to the partnership with Hippo’s Homebuilder Distribution Network.
(2)    Software acquired in the MultiStrat partnership consists of internally-developed software, which will not be placed in service or amortized until it reaches technological feasibility.
Unaudited Pro Forma Consolidated Results of Operations for Business Combinations January 1, 2024. This pro forma information should not be relied upon as being indicative of the historical results that would have been obtained if the acquisition had occurred on that date, nor of the results that may be obtained in the future.
For the Years Ended December 31,
(unaudited) (in thousands)20252024
Pro forma results:
Total revenues(1)
$1,523,375 $1,426,876 
Net loss(1)
(50,680)(40,588)
__________
(1)    Reflects annual GAAP revenue/net loss, plus revenue/net income (loss) from partnerships in the unowned portion of the period based on a quality of earnings review and not an audit, in each case, at the time the due diligence was conducted and may not include full revenue run rate for partial period impacts in the quality of earnings review.