Clearcover Insurance Company reports Q1 results

Clearcover Insurance Company, the carrier subsidiary of car insurance startup Clearcover, has released its Q1 2025 results, ending the period with $32 million in written premiums, a decrease of 21% compared to Q1 2024.

The carrier reported a net underwriting loss of $1.5 million during the quarter, compared to a $10 million loss in the same quarter last year.

Loss ratio, excluding loss adjustment expenses and other underwriting expenses, was 62.2% in the quarter, an improvement of 49 percentage points compared to Q1 2024. Combined ratio was 112%, an improvement of 49 percentage points compared to the same period last year.