Clearcover Insurance Company reports Q1 results

Clearcover Insurance Company, the carrier subsidiary of car insurance startup Clearcover, has released its Q1 2024 results, ending the period with $40.7 million in written premiums, a 6% increase compared to the same period last year.

The carrier reported a net underwriting loss of $10.2 million in the quarter, compared to a $9.4 million loss in Q1 2023.

Loss ratio, including losses ceded to reinsurers, stood at 84% in quarter, an improvement of 11.5 percentage points compared to the same quarter last year.