Cohen-backed INSU Acquisition II completed the merge with Metromile in a $956m deal.

Cohen-backed INSU Acquisition II, a publicly-traded special purpose acquisition company, completed the merger with Metromile, the digital insurance platform and pay-per-mile auto insurer, in a $956m deal. “We are excited to close our business combination with Metromile and eagerly anticipate its next chapter in delivering real-time, personalized digital auto insurance nationwide. Dan and his top-notch team of technologists and insurance veterans have built a business that has a clear competitive advantage and is on the forefront of the digital insurance evolution. This business combination provides Metromile with the capital necessary to execute on multiple growth opportunities successfully, and to help bring the era of fixed-price auto insurance to an end," Daniel Cohen, INSU Chairman of the Board of Directors. On February 9, 2021, INSU Acquisition's shareholders approved business combination.