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Root’s improved results make it an attractive acquisition, not a comeback story. -
The InsurTech’s shares gained over 50% in value on Thursday.
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In September 2023, Cowbell made the same number of staff cuts.
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The price movement came amid a tech stock rally on Wall Street.
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The company posted favorable development in the last quarter of 2023.
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Bill Fahrner most recently served as CUO at Joyn Insurance.
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The company’s book is being run off by Boost Insurance.
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The company would ideally like to target a minority investment.
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The company provides a platform for brokers to value, buy and sell books of business.
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The company's reinsurance panel has expanded to over a dozen risk capital providers.
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Intact Ventures, Era Ventures, Greenlight Re and Spark Capital also participated.
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The home insurance start-up claims the fundraise was made at a $1bn-plus valuation.
