Metromile annual operating loss narrows to $37.4mn in 2020
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Metromile annual operating loss narrows to $37.4mn in 2020

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Metromile listed on the Nasdaq exchange in February

Nasdaq-listed Metromile’s operating loss fell to $37.4mn in 2020, down from an operating loss of $70mn in 2019, as the Covid-19-related drop in car use helped to improve the carrier’s loss ratio.

Metromile’s loss ratio was 18.3 points better in 2020 than a year earlier at 57.4%, a ratio the company expects will return to between 65% and 70% once society returns to normal after the pandemic.

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