‘LOOP Renews Reinsurance Program with Success’

LOOP, the B-Corp and AI-powered auto insurer, has announced the successful renewal of its reinsurance program. The program, led by tier-one reinsurers and carriers, was oversubscribed on all dimensions, reflecting the confidence in LOOP’s mission and business performance.

The renewed program offers the same level of quota share protection as the previous coverage, with variable ceding commissions projected to remain consistent with previous agreements. Carey Anne Nadeau, LOOP’s co-CEO and cofounder, expressed gratitude for the support of their reinsurers, noting that their partnerships allow LOOP to operate in a capital-light manner and focus on expanding their customer base.

The new program will be in effect for an extended 15-month term, providing stability and security for LOOP as they continue to grow and innovate in the auto insurance industry.