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.
J&J Vows Appeal After Jury Hits it With $1.5B Talc Cancer Award 
Court Ruling Could Help Shed Light on Owners of Litigation Funders, Medical Clinics 
Senators Launch Probe Into Demotech’s Ratings in Florida 
More US Beef Plants May Close as Cattle Herds Keep Tightening 
