Kin Insurance Continues Rapid Growth Trajectory in Third Quarter 2021: Omnichannel Acquisition Corp.

2021 NOV 01 (NewsRx) -- By a News Reporter-Staff News Editor at Mergers & Acquisitions Daily News -- Kin Insurance, Inc. (“Kin” or the “Company”), a leading direct-to-consumer homeowners insurance technology company that has entered into a definitive business combination agreement with Omnichannel Acquisition Corp. (NYSE: OCA) (“Omnichannel”), announced select preliminary operating results for the third quarter ended September 30, 2021: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211020005371/en/Premium Renewal Rate for Kin Carrier (Graphic: Business Wire) Total Managed Premium quintupled to $27.8 million for the third quarter of 2021 compared to $5.4 million of Total Managed Premium in the prior-year period. Total Managed Premium also grew 13% sequentially from the second quarter of 2021. Growth was entirely organic and directly written without the use of independent agents.

$26.7 million (96%) of third quarter 2021 Total Managed Premium was Gross Written Premium on the Kin Interinsurance Network (the “Carrier”), a reciprocal exchange managed by Kin Insurance, Inc.

Premium Renewal Rate on the Carrier increased to 99% compared to 92% in the second quarter 2021.

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