secwatch.observer — SEC 8-K summary
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Issuer:     Lemonade, Inc. (LMND)
CIK:        0001691421
Form:       8-K
Filed at:   2023-06-27T23:59:59+00:00
Accession:  0001691421-23-000078
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1691421/000169142123000078/0001691421-23-000078-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1691421/000169142123000078/lmda-20230621.htm
  HTML page:      https://secwatch.observer/filing/0001691421-23-000078

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer