Root rises after Q4 loss narrows

Root

22/02/2024 18:54

** Shares of car insurer Root  ROOT.O  jump 51% to $13.11 in
afternoon trading
    ** After market close on Wednesday, ROOT posted a narrower
Q4 loss of $1.64/shr vs $4.13/shr last year
    ** Q4 net premiums written more than quadrupled to $228.7
mln compared to last year
    ** Reaching profitability now largely depends on the level
of our discretionary marketing investments - ROOT
    ** Q4 policies-in-force jumped 55% to 341,764 from last year
    ** Stock more than doubled in 2023

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))