Clearcover Insurance Company reports Q2 results

Clearcover Insurance Company, the carrier subsidiary of car insurance startup Clearcover, has released its Q2 2024 results, ending the period with $76.8 million in written premiums, a 6% decrease compared to the same period last year.

The carrier reported a net underwriting loss of $7.2 million in the quarter, and a $17.4 million loss for the first six months of the year, an 8% improvement compared to the first six months of 2023.

Loss ratio, excluding loss adjustment expenses and other underwriting expenses, was 102% during the first six months of the year, an improvement of 15 percentage points compared to the same period last year. Combined ratio was 154% for the first six months, a slight improvement compared to the same period last year.