Insurance brokerage and fintech company Acrisure reported an improvement in broker retention for the third quarter, following an incident in which creditors were inadvertently given access to an internal spreadsheet. The company then asked them not to act on financial metrics they may have seen, according to the available report.
Acrisure told investors on Monday that North American retail broker retention reached 84.2% in the period, up from 82.3% in the second quarter, according to people familiar with the matter. The increase helped offset a $131 million cash burn during the quarter, those people said.
Sources: Bloomberg Markets.