Acko Surpasses Rs 2,000 Cr Revenue, Reduces Losses in FY24

• Acko, a new-age insurance firm, has surpassed the Rs 2,000 crore revenue mark in FY24, a 19.8% increase from FY23.
• The company also managed to reduce its losses by 9%, bringing them below Rs 700 crore.
• Gross premium earned accounted for 73.35% of total income, showing a 33.9% growth to Rs 1,587 crore.
• Acko's controlled costs in employee benefits, advertising, and claims paid helped reduce losses to Rs 670 crore in FY24.
• The firm aims to achieve profitability by FY27, driven by its general and health insurance segments.

Source: Entrackr