The programme maintains its core 55% quota share protection, consistent with previous years, and anticipates similar or improved variable ceding commissions compared to the outgoing agreements. Covering all Lemonade businesses globally, the program is effective for a standard 12-month term.

Last year, Lemonade established Lemonade Re, a new risk-bearing entity in the Cayman Islands, to hold some retained risk. Additionally, a captive cell was set up at a Bermuda transformer to manage most of Lemonade’s windstorm exposure, offering a superior cost/benefit profile compared to traditional windstorm reinsurance capacity.

Daniel Schreiber, Lemonade CEO and cofounder commented on the move, saying: “Partnering once again with the world’s largest and most respected reinsurers who have chosen to stake their capital on the performance of our business is a big deal for Lemonade. Our program renews this year on yet better terms than last year, and was once again oversubscribed.”

Schrieber added: ”This programme allows us to continue to accelerate our growth in a very capital light mode.”