Japan:Mitsui Sumitomo Insurance invests in US InsurTech firm Hippo

Mitsui Sumitomo Insurance Company (MSIC), a subsidiary of MS&AD Insurance Group Holdings, is making a capital investment of $350m in California-based InsurTech group, Hippo Enterprises.

 The investment will support Hippo’s product roll out in additional states, to reach 95% of the US homeowners population in the next year, as well as providing additional capital for its insurance and reinsurance companies.