Insurtech Root Inc. posted a net loss for the fourth quarter 2023 of $24 million and a net loss for the year of $147.4 million.
Results were improvements from net losses of about $58.3 million for fourth quarter 2022 and about $298 million for all of 2022.
The Columbus, Ohio-based company’s Q4 net combined ratio was about 112, an improvement from the near 180 combined ratio of Q4 2022. Root finished 2023 with a combined ratio of 133.2 versus 195 the year prior.
