INAQ - Metromile poised to go public via SPAC boosts year-end policy-in-force guidance

December, 16 2020 05:07 PM Insight Acquisition Corp. Class A

Metromile, the digital auto insurance platform that's set to be acquired by INSU Acquisition Corp. II (INAQ), now expects to end 2020 with 92,253 policies in force, up from its prior forecast of 91,944.Also boosts full-year 2020 contribution profit forecast to $14.1M from $11.3M.Sees full-year 2020 loss ratio of 59.8% vs. its prior forecast of 63.3%.Reaffirms previously provided 2021-2024 financial forecast.Q3 loss ratio of 58.2% compares with 71.4% in Q3 2019; contribution profit of $4.5M increased from $0.7M a year earlier.Sees business combination with SPAC INSU Acquisition Corp. II in Q1 2021.

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Metromile, poised to go public via SPAC, boosts year-end policy-in-force guidance

Company Name:	Insight Acquisition Corp. Class A
Stock Symbol:	INAQ
Market:	NASDAQ

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