Ally Financial strikes home insurance partnership with Hippo

FILE PHOTO: The logo and trading information for Ally Financial Inc appear on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 24, 2019. REUTERS/Brendan McDermid/File Photo

(Corrects throughout to show Hippo will be selling the policies to consumers)

NEW YORK (Reuters) -U.S. online bank Ally Financial has agreed to backstop home insurance policies provided by Hippo Holdings Inc, providing capital for the latter to generate more business, the companies told Reuters.