Openly reaches $360 million in premiums

Home insurance startup Openly has generated a total of $360 million in written premiums in 2024 for its carrier partners Rock Ridge Insurance Company and MS Transverse Insurance Company. The majority of premiums ($350.7M) were reported by Rock Ridge.

In 2023, Openly produced $301 million in written premiums.

On the loss side, Rock Ridge reported $299 million in paid losses for the homeowners line in 2024.

Founded in 2021, Openly raised ~$360 million in equity and $70 million in debt. Its latest round was announced in January. The startup offers coverage in 24 states.