-
The company’s adjusted loss ratio, net of XoL reinsurance recoveries, was 46.4% for the third quarter, down 35.1 points from Q3 2021. -
The InsurTech reported that its Q3 net loss jumped 37.7% YoY to $91.4mnm, as its net loss ratio jumped 24 points to 105%.
-
Acquisition costs for auto InsurTech Metromile and losses from Hurricane Ian expanded net loss by 37.7% YoY to $91.4mn.
-
Investors including AV8 Ventures, Markd, Startup Venture Capital and Maiden Re also participated in the round.
-
Progressive’s superior digital distribution and widening auto margins put it far ahead of the competition.
-
Cover Genius has grown GWP to nearly $1.1mn a day since its last funding round in September 2021.
-
The latest Gallagher Re InsurTech study shows that, beyond the biggest funding rounds in Q3, investment fell to its lowest level since early 2020.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
Around $100mn of the facility was funded at close, with the remaining funds available in two tranches as the company reaches certain agreed-upon milestones.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
-
The homeowners’ InsurTech reported that it has received approximately 6,800 claims associated with Hurricane Ian to date.
-
Former Embroker COO Julie Zimmer has joined the leadership team as CEO as part of the fundraise.
