Lemonade reported Q2 2024 total revenue of $122.0 million, up 17% year-over-year, while net loss narrowed to $57.2 million from $67.2 million in Q2 2023. Gross written premium increased 24% to $226.2 million, driven by a 14% rise in customers to 2.17 million and an 8% increase in premium per customer to $387. Net earned premium grew 17% to $89.3 million.Loss and loss adjustment expense decreased 7% to $70.5 million, reflecting improved loss ratios and reduced catastrophe impacts. The gross loss ratio improved to 79% from 94% in Q2 2023. The company maintained proportional reinsurance contracts providing 55% protection on covered risks, with ceded earned premium representing approximately 55% of gross earned premium.The company ended Q2 with $343.2 million in cash and $581.2 million in investments. Under its financing agreement with GC Customer Value Arranger, Lemonade has access to up to $290 million through 2025, with $43.9 million borrowed as of June 30. The company expects current cash and investments to be sufficient for at least the next 12 months.

Lemonade reported Q2 2024 total revenue of $122.0 million, up 17% year-over-year, while net loss narrowed to $57.2 million from $67.2 million in Q2 2023. Gross written premium increased 24% to $226.2 million, driven by a 14% rise in customers to 2.17 million and an 8% increase in premium per customer to $387. Net earned premium grew 17% to $89.3 million.Loss and loss adjustment expense decreased 7% to $70.5 million, reflecting improved loss ratios and reduced catastrophe impacts. The gross loss ratio improved to 79% from 94% in Q2 2023. The company maintained proportional reinsurance contracts providing 55% protection on covered risks, with ceded earned premium representing approximately 55% of gross earned premium.The company ended Q2 with $343.2 million in cash and $581.2 million in investments. Under its financing agreement with GC Customer Value Arranger, Lemonade has access to up to $290 million through 2025, with $43.9 million borrowed as of June 30. The company expects current cash and investments to be sufficient for at least the next 12 months.