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Clover Health Investments CLOV Insurance Operations — Policyholder Benefits and Claims Incurred, Ceded

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Other financials

Income statement

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Revenue$749.2M+62.0%
Operating income$27.3M+2,246%
Net income$27.3M+2,246%
EPS (diluted)$0.05

Balance sheet

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Cash & equivalents$173.3M+11.5%
Total debt$3.3M-0.9%
Total equity$339.4M+1.0%
Total assets$697.7M+19.5%

Cash flow

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Operating cash flow$107.9M+762%
CapEx$854.0K+362%
Free cash flow$107.0M+750%

Valuation

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Market cap$2.45B+113%
P/S1.1×+0.4×

Profitability

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Operating margin-2.6%+3.5pp
Net margin-2.6%+2.8pp
FCF margin-10.3%

Returns & leverage

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Return on equity-16.9%-170pp
Debt / equity0.0×
Current ratio1.3×-0.2×

Where this comes from

Reported directly by Clover Health Investments in its filing.

Tagged under the XBRL concept us-gaap:ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded.

The source filing: Clover Health Investments’s 10-K, filed February 27, 2026.

Filed
Feb 27, 2026, 8:08 AM EST
Fiscal year
FY2025
Accession
0001801170-26-000057
Line itemYear ended December 31, 2025Year ended December 31, 2024Year ended December 31, 2023
Claims incurred, gross$1,537,832$988,208$987,654
Claims incurred, ceded(4,376)(2,616)(496)
Net claims incurred$1,533,456$985,592$987,158

Item 8. Consolidated Financial Statements and Supplementary Data

FAQ

What is Clover Health Investments's insurance operations — policyholder benefits and claims incurred, ceded?
Clover Health Investments (CLOV) reported insurance operations — policyholder benefits and claims incurred, ceded of $1.09M in Q4 2025.
How has Clover Health Investments's insurance operations — policyholder benefits and claims incurred, ceded changed year-over-year?
Clover Health Investments's insurance operations — policyholder benefits and claims incurred, ceded increased by 67.3% year-over-year, from $654K to $1.09M.
What is the long-term trend for Clover Health Investments's insurance operations — policyholder benefits and claims incurred, ceded?
Over 4 years (2021 to 2025), Clover Health Investments's insurance operations — policyholder benefits and claims incurred, ceded has grown at a 44.6% compound annual growth rate (CAGR), from $1M to $4.38M.
What does insurance operations — policyholder benefits and claims incurred, ceded mean?
The portion of medical claims and policyholder benefits that are recoverable from reinsurers under existing risk-sharing agreements. This metric highlights the extent to which the company shifts its financial liability for high-cost claims to third-party reinsurers. It provides insight into the effectiveness of the company's risk mitigation strategies.

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