Lemonade
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Co-CEO Wininger said Q1 loss ratios were “significantly impacted” by inflation, as while claims are quickly adjusted for inflation, rates can take months to adjust. -
Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The InsurTech increased premiums per customer by 21.8% from a year ago, and its customer count was up by 37.2% year-on-year to 1.5 million.
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Following the acquisitions of Trov and Insureon, what InsurTech M&A deals are next?
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Inside P&C’s news team runs you through the key developments from the past week.
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The InsurTech’s net loss doubled to $70.3mn during the fourth quarter of 2021 from a $33.9mn loss in Q4 2020 as its loss ratio jumped 22 points to 98%.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The company said the unfavorable prior period development was due to “a handful of older large losses for which we under-reserved”.
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The merger proposal was supported by at least 95.9% of the votes cast at during a special meeting of stockholders on Tuesday.
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The next generation must stay private longer, employ a partnership approach to capital and take the complexities of insurance more seriously.
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Stock prices fluctuated, and InsurTech short-sellers took some profits.
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The InsurTech’s stock traded at $28.25 by midday Tuesday, down from its $163.93 peak in February 2021.
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