Root Q3 net loss jumps by 56% to $133mn as ex-cat AY loss ratio jumps 11 points to 91%

James Thaler

November 10, 2021

Auto InsurTech Root’s net loss widened by 56% to $133mn in the third quarter, from $85.2mn last year, as its direct loss ratio climbed to 92.7% from 89.8% a year earlier.

Root said the higher loss figure was driven by a rise in industry-wide claims frequency and severity trends, as well as inflationary pressures.

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