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.
Was this article valuable?
Here are more articles you may enjoy.
Trump’s Diversity Crackdown Reverberates Through US Boardrooms 
Bill to Curb Staged Accidents Introduced in Senate 
Company at Center of Cyclospora Outbreak Complained to White House, Source Says 
Record-Low Danube Water Levels Leave Boats Beached, Reveal Decades-Old Shipwrecks 
