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.
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