Clearcover Insurance Company reports 2024 results

Clearcover Insurance Company, the carrier subsidiary of car insurance startup Clearcover, has released its 2024 results, ending the period with $144 million in written premiums, a decrease of 15% compared to 2023.

The carrier reported a net underwriting loss of $20 million for the year, compared to a $43 million loss in 2023.

Loss ratio, excluding loss adjustment expenses and other underwriting expenses, was 84.9% for the year, an improvement of 33 percentage points compared to 2023. Combined ratio was 133% in 2024, an improvement of 30 percentage points compared to 2023.