Mountain Re provides economically efficient source of reinsurance against cat events and access to capital marketsPALO ALTO, Calif.--(BUSINESS WIRE)--Spinnaker Insurance Company, a wholly owned subsidiary of Hippo Holdings Inc. (NYSE: HIPO), today announced the successful sponsorship of Mountain Re Ltd. Series 2023-1 catastrophe bond. The $110 million cat bond is a 10% upsize from the initial $100 million transaction target. As part of the transaction, Spinnaker is entering into a reinsurance contract…