Lemonade Reports Third-Quarter Revenue of $336.1M, EPS Loss of $0.56
Revenue rose 73% year over year, while the net loss widened 17%. Growth reflected higher net earned premium from increased gross written premium and a lower reinsurance cession rate; loss and adjustment expense also rose with premium growth, partly offset by reserve effects.
Lemonade’s third-quarter revenue rose 73% year over year, while its net loss widened 17%. Revenue growth reflected higher net earned premium from increased gross written premium and a lower reinsurance cession rate; loss and adjustment expense also rose with premium growth, partly offset by reserve…