---
schema_version: "secwatch.filing_event.v1"
accession: "0001691421-23-000078"
form_type: "8-K"
ticker: "LMND"
cik: "0001691421"
company_name: "Lemonade, Inc."
filed_at: "2023-06-27T23:59:59+00:00"
generated_at: "2026-06-13T16:22:46.289842+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Lemonade enters 2024 reinsurance program ceding ~55% of premium to Hannover, MAPFRE, Swiss Re

## Summary
- Reinsurance program effective July 1, 2023 to June 30, 2024 with three reinsurers.
- Proportional quota share cedes ~55% of premium across all products/geographies; per risk cap $750,000.
- Separate PPR contract cedes claims >$750k 100% up to $2.25M; automatic facultative contract covers claims >$3M with up to $10M+ recovery.
- Contracts include loss ratio caps, variable commissions to align interests with reinsurers.

## SEC filing metadata
- accession: 0001691421-23-000078
- form_type: 8-K
- ticker: LMND
- cik: 0001691421
- company_name: Lemonade, Inc.
- filed_at: 2023-06-27T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1691421/000169142123000078/0001691421-23-000078-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1691421/000169142123000078/lmda-20230621.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001691421-23-000078
- JSON: https://secwatch.observer/filing/0001691421-23-000078.json
- Plain text: https://secwatch.observer/filing/0001691421-23-000078.txt

## Key facts
- Material Agreements
  Lemonade, Inc. entered into Automatic Facultative Property Per Risk Excess of Loss Reinsurance Contract with Arch Re (effective 2023-06-21).
  - Action: entry
  - Counterparty: Arch Re
  - Effective: 2023-06-21
  source text: and LIC agreed to the terms of an Automatic Facultative Property Per Risk Excess of Loss Reinsurance Contract with Arch Re (the "Automatic Facultative PPR Contract"), each effective from July 1, 2023 until June 30, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1691421/000169142123000078/0001691421-23-000078-index.htm
- Material Agreements
  Lemonade, Inc. entered into Property Per Risk Excess of Loss Reinsurance Contract with a panel of reinsurance companies (effective 2023-06-21).
  - Action: entry
  - Counterparty: a panel of reinsurance companies
  - Effective: 2023-06-21
  source text: In addition, on June 21, 2023, LIC and Lemonade Insurance agreed to the terms of a Property Per Risk Excess of Loss Reinsurance Contract with a panel of reinsurance companies (the "PPR Contract")
  evidence_url: https://www.sec.gov/Archives/edgar/data/1691421/000169142123000078/0001691421-23-000078-index.htm
- Material Agreements
  Lemonade, Inc. entered into Whole Account Quota Share Reinsurance Contracts with each of Hannover Ruck SE, MAPFRE Re, and Swiss Reinsurance America Corporation (effective 2023-06-21).
  - Action: entry
  - Counterparty: each of Hannover Ruck SE, MAPFRE Re, and Swiss Reinsurance America Corporation
  - Effective: 2023-06-21
  source text: The Reinsurance Program includes Whole Account Quota Share Reinsurance Contracts by and among the Company, Lemonade Insurance Company ("LIC"), Metromile Insurance Company ("MIC") and Lemonade Insurance N.V. ("Lemonade Insurance") and each of Hannover Ruck SE ("Hannover"), MAPFRE Re ("MAPFRE"), and Swiss Reinsurance America Corporation ("Swiss Re" and together with MAPFRE and Hannover, the "Reinsurers").
  evidence_url: https://www.sec.gov/Archives/edgar/data/1691421/000169142123000078/0001691421-23-000078-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.