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The raise takes the company’s total funding to over $116mn. -
Any faster-than-anticipated re-opening could have a negative impact on loss cost trends.
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Metromile will buy $10mn in bitcoin later this quarter, in a move the InsurTech said would help promote the financial resilience of policyholders.
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The investor-turned-blogger is seeking early-stage funding and carrier partners.
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Allstate will keep the brand going while putting advertising dollars behind its core direct business.
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The carrier made an operating loss of $94.3mn over the three-month period.
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Net investment income surged more than threefold to $673mn.
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Net written premiums at the carrier were down 0.4% in the quarter to $950mn.
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Kemper Insurance reported a 46% year-on-year dip in operating profits for the first quarter of 2021, as natural catastrophe claims weighed on the company’s results.
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The Ohio-based personal lines reciprocal adds seventh and eighth states.
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Headline underwriting income fell by 20% in the quarter, after catastrophe losses cost $700mn, up from $237mn the year before.
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High net worth insurer Vault has hired Robert Ross, a career insurance technology executive, as chief information officer.
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