Westwood Insurance Agency has struck a deal to acquire Hippo Holdings’ home builder distribution network.
The companies stated that the network generated $29.2 million in revenue over the last year and is expected to deliver approximately $7 million adjusted EBITDA over the 12 months after the closing of the deal.
“Through the acquisition of Hippo’s homebuilder distribution network, Westwood now provides an embedded insurance solution to 20 of the top 25 homebuilders2 across the country,” said Jim Roche, president of Westwood’s parent company, The Baldwin Group.
“The addition of Hippo’s builder product … gives Westwood even more capacity to support its builder clients in an otherwise challenging insurance market. This collaboration aligns with Westwood’s goal to ensure that obtaining insurance is the easiest part of buying a home.”
