Root has announced the availability of Root Insurance in Minnesota. The insurer now serves drivers in 35 states, extending its auto insurance offering to over 4 million registered drivers in Minnesota and covering more than three-quarters of the U.S. population.
Root is coming off the first quarterly net income in the insurtech’s history.
Root turned in a combined ratio of 91.1 in the third quarter. The company recorded third quarter net income of approximately $23 million. Root reported a 131% increase in new writings in Q3.
Founded in 2015 and based in Columbus, Ohio, Root, Inc. is the parent company of Root Property & Casualty Insurance Company and Root Insurance Company.
Topics Minnesota
Was this article valuable?
Here are more articles you may enjoy.
Amazon Sued Over ‘Punitive’ Handling of Employee Absences 
Authorities in Miami Investigating Death of Passenger on Cruise Ship 
China Accuses US of Orchestrating $13 Billion Bitcoin Hack 
No Firm Is Immune if AI Bubble Bursts, Google CEO Tells BBC 
