Several European-based insurtech startups entered unicorn territory this year, such as Bought By Many, which offers pet insurance; London-based Zego; and Alan, a French startup that raised a $220 million round. According to Brittain, EU startups in this sector are “still at the very early stages of innovation,” having only shown “a fraction of what’s possible” in a market that is “as large as banking.” Thanks very much for reading Extra Crunch; I hope you have a safe, relaxing weekend.
Boards are adding more women and minorities ahead of Nasdaq rule
Boards are adding more women and minorities ahead of Nasdaq rule
BLOOMBERG
The pressure is on for boards to diversify, and it s working.
Since last June, 145 S&P 500 companies have added at least one Black director, a brisk pace compared with past years, according to recruiter Russell Reynolds Associates. Latino board appointments at public companies quadrupled from a year ago, and women, for the first time, hold almost one-third of all seats on the S&P 500. Only one major U.S. initial public offering debuted with an all-male board last year.
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Columbus auto insurer Root continues to expand its reach across the country.
The young auto insurer led by CEO Alex Timm says it is now licensed to sell auto insurance in 48 states and the District of Columbia, according to its quarterly report issued Wednesday. It is working to get licenses for the remaining two states, Florida and Massachusetts.
Root said it is now preparing pricing models in several of those states.
The company saw record premiums written in the quarter, topping $200 million in the first three months of 2021 and up 23% from the same period in 2020. That is the company s preferred metric for judging its performance.