Avi Ben-Hutta

1 week ago | coverager.com | Avi Ben-Hutta

Hippo has released its Q1 2025, ending the period with a net loss of $48 million, an increase of $12 million compared to Q1 2024. The LA wildfires contributed $45 million to the net loss. Without the impact of the LA wildfires, Hippo’s net loss would have improved by $33 million YoY. The Services segment, which includes the consumer insurance agency, had revenue of $11.7 million, an increase of 3%, and an adjusted operating loss of $3.5 million, a decrease of 34% compared to Q1 2024.

1 week ago | coverager.com | Avi Ben-Hutta

Root Insurance released its Q1 2025 results, ending the period with ~454k policies-in-force, a 13% increase compared to Q1 2024. Root added 39k policies to its overall count during the quarter. Gross premiums written increased 24% YoY to $411 million. Net loss and LAE ratio improved 8 points YoY to 64%. Net combined ratio improved 6 points YoY to 96%. The company spent $51.5 million on sales and marketing during the quarter, a 69% increase compared to Q1 2024.

1 week ago | coverager.com | Avi Ben-Hutta

Lemonade released its Q1 2025 results, ending the quarter with 2,545,496 customers, a 21% year-over-year increase. The company added ~115k customers to its overall count during the quarter. In-force premium was over $1 billion, an increase of 27% compared to the same period last year. Premium per customer stood at $396, 4% higher compared to Q1 2024. The company spent $43.2 million on sales and marketing during the quarter compared to $30.4 million in Q1 2024.

1 week ago | coverager.com | Avi Ben-Hutta

GEICO ended the first quarter of 2025 with a $2.1 billion underwriting profit, a ~13% increase compared to the same period last year. Premiums written increased $710 million (6.6%) in the first quarter of 2025 compared to 2024, reflecting an increase in policies in-force and higher average premiums per policy. Losses and loss adjustment expenses increased $10 million (0.1%) in the quarter compared to 2024.

3 weeks ago | coverager.com | Avi Ben-Hutta

Insurance startup Buckle has filed paperwork for Chapter 7 bankruptcy related to Buckle Services, LLC in the District of Delaware. Buckle Services is fully owned by Buckle Corp. In the filing, Buckle disclosed 50-99 creditors, $0-$50k in assets, and $10M-$50M in liabilities. Founded in 2017, Buckle publicly disclosed $81 million in equity funding and $35 million in debt.