Company Participants Alex Timm - Co-Founder & Chief Executive Officer Josh Siegler - Cantor Fitzgerald Yaron Kinar - Jefferies Tommy McJoynt - KBW Operator Good afternoon and welcome to the Root, Inc. Fourth Quarter 2023 Earnings Conference Call. Please note that this call is being recorded. [Operator Instructions] Good afternoon and thank you for joining us today. Root is hosting this call to discuss its fourth quarter and full year 2023 earnings results. Participating on today's call are Alex Timm, Co-Fou ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | --- | --- | --- | | Class A common stock, | ROOT | The Nasdaq Stock Market LLC | | $0.0001 par value per share | | | OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ...

Yes, that's flowing through this line. So, essentially, it's primarily related to the commutation. So, that's representative of the unwind of deferred ceding commission revenue that we don't expect to earn in. Tommy McJoynt Okay, got it. And then just my second question is, as you ramp up premium growth, both on a gross basis and then effectively on a net basis as well, since you're increasing your retention, can you talk about how much statutory capital you have and how much net written premium that allows ...

Q3 2023 Letter to Shareholders: Q3 2023 ____________________________________________________________________________________________________________ Gross premiums written ($M) $204.6 $150.7 $224.2 Q3 2021 Q3 2022 Q3 2023 Gross premiums earned ($M) $189.4 $155.3 $159.8 Q3 2021 Q3 2022 Q3 2023 ratio 79.3% 68.0% • Our ability to take rate action early and react to changing environments 15 (2) Net ceding commission and other is comprised of ceding commissions received in connection with reinsurance ceded, part ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from____________to____________ Commission File Number: 001-39658 ROOT, INC. (Exact name of Registrant as specified in its charter) Delaware 84-2717903 (State o ...

So as we look at this, the worst case scenario for us would -- for this particular reinsurer, would be for us to exercise our right to commute the deals. And we believe that we could do that with a minimal overall impact to the financial statements given our loss ratio performance. We've got a strong balance sheet, and we're ready and able to take back this business onto our books, if necessary, which would actually further support underwriting profitability over the long term. So I would say our longer-ter ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from____________to____________ Commission File Number: 001-39658 ROOT, INC. (Exact name of Registrant as specified in its charter) Delaware 84-2717903 (State or oth ...

Second, our platform continues to advance through our API developments, allowing us to rapidly scale and add new partnerships while materially reducing the cost and time to deployment for those partners. Putting these three things together, increasing adoption while decreasing costs and increasing speed to market, that's the differentiated value we provide to our partners. Alex Timm - Co-Founder and Chief Executive Officer Tommy McJoynt Company Participants Megan Binkley - Interim Chief Financial Officer Co ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from____________to____________ Commission File Number: 001-39658 ROOT, INC. (Exact name of Registrant as specified in its charter) Delaware 84-2717903 (State or ot ...

And we do we have another question from the line of Weston Bloomer from UBS. Please proceed. Weston Bloomer Hi. Thanks for taking my question. I was curious, you have now revised policyholder contracts in 33 states, that was up from 25 states last quarter. I was hoping you could maybe quantify the impact that that had on your loss ratios in 2022. And then do you expect additional revisions in 2023, or should – most of the improvements from here just come from additional rate actions through your book? Frank ...