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InsurTechs continue to get battered as markets enter correction territory, but broader industry holds up amid wide declines. -
The share price of the auto InsurTech plunged after the company said it was cutting its headcount by 330 staffers, or about 20% of its workforce.
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HCI’s suspension of TypTap's spin off amid a punishing market for InsurTechs pressured the company's stock.
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If the vote is successful and all closing requirements are satisfied, the combined company will be named Kin insurance and is expected to be listed on the NYSE under the ticker symbol “KI”.
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InsurTechs, including Lemonade, Root, Hippo, and Metromile, shed some short interest but remain the target of choice for short-sellers.
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The legacy carrier said it expected cross-trading on the OTCQX to widen its investor base and support liquidity on the LSE AIM.
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Negotiations were dragged out by decisions being referred for sign-off at senior levels.
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Lemonade, Root, and Metromile remain the focus of short sellers, as most firms see little short interest change.
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Lemonade and Root remain the focal points of short sellers, while Metromile’s stock loan fee rate increases (pending acquisition).
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The classic car insurer goes public but might have to pay a price for growth later.
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Just over a quarter of shareholders voted to redeem shares as Aldel Financial took classic car underwriter public.
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The higher level of repurchases seen in Q3 will likely last longer than expected.
