2023 Q1 Form 10-K Financial Statement

#000169142123000032 Filed on March 03, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $95.20M $88.40M $256.7M
YoY Change 114.9% 115.61% 99.92%
Cost Of Revenue $167.3M
YoY Change 132.68%
Gross Profit $89.40M
YoY Change 58.23%
Gross Profit Margin 34.83%
Selling, General & Admin $60.90M $58.40M $260.6M
YoY Change -8.42% -3.15% 21.66%
% of Gross Profit 291.5%
Research & Development $21.80M $79.60M
YoY Change 28.99% 53.67%
% of Gross Profit 89.04%
Depreciation & Amortization $5.100M $5.400M $12.20M
YoY Change 240.0% 350.0% 229.73%
% of Gross Profit 13.65%
Operating Expenses $82.70M $156.5M $340.2M
YoY Change -0.84% 43.05% 27.89%
Operating Profit -$250.8M
YoY Change 19.71%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$64.70M -$68.10M -$294.8M
YoY Change -10.88% -0.44% 26.2%
Income Tax $1.100M -$4.400M $3.000M
% Of Pretax Income
Net Earnings -$65.80M -$63.70M -$297.8M
YoY Change -12.03% -9.39% 23.41%
Net Earnings / Revenue -69.12% -72.06% -116.01%
Basic Earnings Per Share -$0.95 -$4.59
Diluted Earnings Per Share -$0.95 -$0.92 -$4.59
COMMON SHARES
Basic Shares Outstanding 69.30M shares 69.16M shares 64.92M shares
Diluted Shares Outstanding 69.33M shares 64.92M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $250.1M $282.5M $282.5M
Short-Term Investments
Other Short-Term Assets $14.00M
YoY Change 32.08%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $14.00M
YoY Change 32.08%
LONG-TERM ASSETS
Property, Plant & Equipment $19.80M $19.60M $46.00M
YoY Change 52.31% 67.52% 36.9%
Goodwill $19.00M $19.00M
YoY Change
Intangibles $29.80M $32.50M
YoY Change 5316.67%
Long-Term Investments $737.9M $750.1M $750.1M
YoY Change -5.14% -6.45% -6.45%
Other Assets $4.700M $4.000M $4.000M
YoY Change 2250.0%
Total Long-Term Assets $1.677B
YoY Change 11.79%
TOTAL ASSETS
Total Short-Term Assets $14.00M
Total Long-Term Assets $1.677B
Total Assets $1.641B $1.691B $1.691B
YoY Change 9.75% 11.93% 11.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.900M $1.100M $1.100M
YoY Change -26.92% 10.0% 10.0%
Accrued Expenses $62.30M $68.50M $68.50M
YoY Change 27.66% 40.08% 40.08%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.900M $83.50M $83.50M
YoY Change -96.99% 48.05% 48.05%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $85.00M $2.100M $2.100M
YoY Change 989.74% 5.0% 5.0%
Total Long-Term Liabilities $85.00M $2.100M $2.100M
YoY Change 989.74% 5.0% 5.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.900M $83.50M $83.50M
Total Long-Term Liabilities $85.00M $2.100M $2.100M
Total Liabilities $819.4M $823.9M $823.9M
YoY Change 40.62% 57.74% 57.74%
SHAREHOLDERS EQUITY
Retained Earnings -$925.5M -$859.7M
YoY Change 45.36% 53.0%
Common Stock $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $821.8M $866.8M $866.8M
YoY Change
Total Liabilities & Shareholders Equity $1.641B $1.691B $1.691B
YoY Change 9.75% 11.93% 11.93%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$65.80M -$63.70M -$297.8M
YoY Change -12.03% -9.39% 23.41%
Depreciation, Depletion And Amortization $5.100M $5.400M $12.20M
YoY Change 240.0% 350.0% 229.73%
Cash From Operating Activities -$46.40M -$28.60M -$163.0M
YoY Change 17.47% -42.69% 12.72%
INVESTING ACTIVITIES
Capital Expenditures $2.700M $2.600M $10.10M
YoY Change -3.57% -230.0% 7.45%
Acquisitions -$98.80M
YoY Change
Other Investing Activities $18.00M $90.10M $191.2M
YoY Change 160.87% 1995.35% -124.04%
Cash From Investing Activities $15.30M $87.50M $181.1M
YoY Change 273.17% 3704.35% -122.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $100.0K 300.0K $3.600M
YoY Change -83.33% -50.0% -99.45%
NET CHANGE
Cash From Operating Activities -$46.40M -28.60M -$163.0M
Cash From Investing Activities $15.30M 87.50M $181.1M
Cash From Financing Activities $100.0K 300.0K $3.600M
Net Change In Cash -$31.70M 59.20M $15.90M
YoY Change -10.96% -225.96% -105.29%
FREE CASH FLOW
Cash From Operating Activities -$46.40M -$28.60M -$163.0M
Capital Expenditures $2.700M $2.600M $10.10M
Free Cash Flow -$49.10M -$31.20M -$173.1M
YoY Change 16.08% -34.86% 12.4%

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IncreaseDecreaseInDeferredCedingCommissions
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CY2020 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
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CY2021 us-gaap Proceeds From Issuance Initial Public Offering
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CY2022 us-gaap Income Taxes Paid
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CY2021 us-gaap Income Taxes Paid
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CY2020 us-gaap Income Taxes Paid
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CY2022 lmnd Noncash Or Part Noncash Acquisition Warrants Assumed
NoncashOrPartNoncashAcquisitionWarrantsAssumed
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CY2021 lmnd Noncash Or Part Noncash Acquisition Warrants Assumed
NoncashOrPartNoncashAcquisitionWarrantsAssumed
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CY2020 lmnd Noncash Or Part Noncash Acquisition Warrants Assumed
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CY2022 us-gaap Nature Of Operations
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Nature of the Business<div style="margin-bottom:5pt;margin-top:10pt;text-indent:27pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Lemonade, Inc. is a public benefit corporation organized under Delaware law on June 17, 2015. It provides certain personnel, facilities and services to each of its property and casualty insurance subsidiaries and non-insurance subsidiaries (together with Lemonade, Inc., the "Company"), all of which are wholly-owned, directly or indirectly, by Lemonade, Inc. </span></div><div style="text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company consists of the following entities, which support Lemonade, Inc.'s U.S., E.U. and U.K. operations: (1) Lemonade Insurance Company (“LIC”), a licensed and regulated stock property and casualty insurance company in New York and in all other states where the Company's insurance products are available; (2) Lemonade Insurance Agency, LLC, a licensed insurance agent in New York and in all other states where the LIC’s insurance products are available, and also acts as agent for other insurance companies in distributing their insurance products; (3) Lemonade Ltd., a company organized under the laws of Israel which provides technology, research and development, management, marketing and other services to the companies in the group; (4) Lemonade Insurance N.V., a Netherlands public limited company; (5) Lemonade Agency B.V., a Netherlands private limited liability company, (6) Lemonade B.V., a Netherlands private limited liability company; (7) Lemonade Life Insurance Agency, LLC, a limited liability company which acts as the distribution and marketing agent for the sale and servicing of life insurance products; (8) Lemonade E&amp;S Insurance Agency, LLC, a limited liability company licensed as an excess and surplus lines insurance broker; (9) Metromile, LLC, a limited liability company, which is an intermediate holding company for other entities; (10) Metromile Operating Company, a corporation, which provides certain services for its subsidiaries; (11) Metromile Insurance Company (“MIC”), a stock property and casualty insurance company in Delaware and all other states where MIC’s insurance products are available; (12) Metromile Insurance Services LLC, a limited liability company licensed as an insurance agent in California and in all other states where MIC’s insurance products are available, and acts as an agent for other insurance companies in distributing their insurance products; (13) Metromile Enterprise Solutions, LLC, a California limited liability company; and (14) Lemonade Tech B.V., a Netherlands private limited liability company which provides technology, research and development services to the companies in the group.</span></div>
CY2022 us-gaap Basis Of Accounting
BasisOfAccounting
Basis of Presentation<div style="margin-bottom:5pt;margin-top:10pt;text-indent:27pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company presents its financial statements on a consolidated basis including all of its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. All foreign currency amounts in the consolidated statements of operations and comprehensive loss have been translated using an average rate for the reporting period. All foreign currency balances in the balance sheets have been translated using the spot rate at the end of the year. All figures expressed, except share amounts are represented in U.S. dollars in millions.</span></div><div style="margin-top:10pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Risks and Uncertainties</span></div><div style="margin-top:10pt;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The COVID-19 pandemic has caused national and global economic and financial market disruptions and may adversely impact our business. Although the Company did not see a material impact on its results of operations for the years ended December 31, 2022, 2021 and 2020 due to the COVID-19 pandemic, the Company cannot predict the duration or magnitude of the pandemic or the full impact that it may have on the Company’s financial condition and results of operations, business operations, and workforce.</span></div>
CY2022 us-gaap Use Of Estimates
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<span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of the consolidated financial statements in conformity with U.S. Generally Accepted Accounting Principles ("GAAP") requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On an ongoing basis, the Company’s management evaluates estimates, including those related to contingent assets and liabilities as of the date of the consolidated financial statements as well as the reported amounts of revenue and expense during the reporting period. Such estimates are based on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities at the dates of the condensed consolidated financial statements, and the reported amounts of expenses during the reporting period. </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Actual results could differ from those estimates. All revisions to accounting estimates are recognized in the period in which the estimates are revised. Significant estimates reflected in the Company's consolidated financial statements include, but are not limited to, reserves for loss and loss adjustment expense, reinsurance recoverable on unpaid losses, intangible assets, valuation allowance on deferred tax assets and the valuation of stock-based compensation prior to the Company’s Initial Public Offering (the “IPO”).</span>
CY2022 us-gaap Number Of Reportable Segments
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1 segment
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2022Q4 us-gaap Restricted Cash
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CY2021Q4 us-gaap Restricted Cash
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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270600000 usd
CY2022 us-gaap Concentration Risk Credit Risk
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<span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents, fixed maturity securities and reinsurance recoverables. Cash and cash equivalents are held with financial institutions of high credit quality, and fixed maturity securities primarily on U.S. government, U.S. government agencies, and high credit quality issuers of debt securities. Cash and cash equivalent balances may exceed the amount of insurance provided on such balances. The Company evaluates the financial condition of its reinsurers, and reinsures its business primarily with highly rated reinsurers, and </span><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">may retain funds due to reinsurers or require letters of credit as security for those recoverable balances (Note 8).</span>
CY2022Q4 us-gaap Premiums Receivable Allowance For Doubtful Accounts
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CY2022 us-gaap Deferred Policy Acquisition Cost Amortization Expense
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CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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900000 usd
CY2020 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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500000 usd
CY2022 us-gaap Advertising Expense
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88500000 usd
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104600000 usd
CY2020 us-gaap Advertising Expense
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58300000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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673500000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
100000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
23300000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
650300000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
696800000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
100000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
5500000 usd
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
691400000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
23300000 usd
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
5500000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsAmortizedCostBasis
242300000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Next Rolling Twelve Months Fair Value
AvailableForSaleSecuritiesDebtMaturitiesNextRollingTwelveMonthsFairValue
238000000.0 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveAmortizedCostBasis
431200000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Rolling Year Two Through Five Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearTwoThroughFiveFairValue
412300000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Rolling Year Six Through Ten Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingYearSixThroughTenAmortizedCostBasis
0 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Rolling Year Six Through Ten Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingYearSixThroughTenFairValue
0 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Rolling After Year Ten Amortized Cost Basis
AvailableForSaleSecuritiesDebtMaturitiesRollingAfterYearTenAmortizedCostBasis
0 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Rolling After Year Ten Fair Value
AvailableForSaleSecuritiesDebtMaturitiesRollingAfterYearTenFairValue
0 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
673500000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
650300000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
116000000.0 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
2300000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
513200000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
21000000.0 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
629200000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
23300000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
678100000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
5500000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
500000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
0 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
678600000 usd
CY2021Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
5500000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
21000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
262 security
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
0 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
0 usd
CY2022 us-gaap Gross Investment Income Operating
GrossInvestmentIncomeOperating
8800000 usd
CY2021 us-gaap Gross Investment Income Operating
GrossInvestmentIncomeOperating
2000000.0 usd
CY2020 us-gaap Gross Investment Income Operating
GrossInvestmentIncomeOperating
1500000 usd
CY2022 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
400000 usd
CY2021 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
100000 usd
CY2020 us-gaap Investment Income Investment Expense
InvestmentIncomeInvestmentExpense
0 usd
CY2022 us-gaap Net Investment Income
NetInvestmentIncome
8400000 usd
CY2021 us-gaap Net Investment Income
NetInvestmentIncome
1900000 usd
CY2020 us-gaap Net Investment Income
NetInvestmentIncome
1500000 usd
CY2022 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
-400000 usd
CY2021 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
0 usd
CY2020 us-gaap Realized Investment Gains Losses
RealizedInvestmentGainsLosses
0 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
650300000 usd
CY2022Q4 us-gaap Short Term Investments
ShortTermInvestments
99800000 usd
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
750100000 usd
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
691400000 usd
CY2021Q4 us-gaap Short Term Investments
ShortTermInvestments
110400000 usd
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
801800000 usd
CY2021Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
0 usd
CY2022 lmnd Warrants And Rights Initial Measurement Of Liability
WarrantsAndRightsInitialMeasurementOfLiability
500000 usd
CY2022 lmnd Warrants And Rights Period Increase Decrease
WarrantsAndRightsPeriodIncreaseDecrease
-200000 usd
CY2022Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
300000 usd
us-gaap Contracts In Force Subject To Participation Through Reinsurance Percentage
ContractsInForceSubjectToParticipationThroughReinsurancePercentage
0.75
CY2022 lmnd Reinsurance Contract Ceded Commission Percentage
ReinsuranceContractCededCommissionPercentage
0.25
CY2022Q4 lmnd Reinsurance Contract Claims Funding Percentage
ReinsuranceContractClaimsFundingPercentage
0.75
CY2022 us-gaap Contracts In Force Subject To Participation Through Reinsurance Percentage
ContractsInForceSubjectToParticipationThroughReinsurancePercentage
0.25
us-gaap Contracts In Force Subject To Participation Through Reinsurance Percentage
ContractsInForceSubjectToParticipationThroughReinsurancePercentage
0.75
CY2022Q3 us-gaap Contracts In Force Subject To Participation Through Reinsurance Percentage
ContractsInForceSubjectToParticipationThroughReinsurancePercentage
0.55
CY2022Q4 lmnd Reinsurance Program Minimum Losses Threshold
ReinsuranceProgramMinimumLossesThreshold
80000000 usd
CY2022 lmnd Aggregate Excess Of Loss Reinsurance Contract Threshold Loss Ratio
AggregateExcessOfLossReinsuranceContractThresholdLossRatio
0.50
CY2022 lmnd Aggregate Excess Of Loss Reinsurance Contract Deductible Percent Of Earned Premium
AggregateExcessOfLossReinsuranceContractDeductiblePercentOfEarnedPremium
0.10
CY2022 us-gaap Contracts In Force Subject To Participation Through Reinsurance Percentage
ContractsInForceSubjectToParticipationThroughReinsurancePercentage
0.30
CY2022Q4 us-gaap Reinsurance Recoverables On Paid Losses
ReinsuranceRecoverablesOnPaidLosses
32200000 usd
CY2021Q4 us-gaap Reinsurance Recoverables On Paid Losses
ReinsuranceRecoverablesOnPaidLosses
17100000 usd
CY2022Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
124600000 usd
CY2021Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
72700000 usd
CY2022Q4 us-gaap Reinsurance Recoverables On Paid And Unpaid Losses
ReinsuranceRecoverablesOnPaidAndUnpaidLosses
156800000 usd
CY2021Q4 us-gaap Reinsurance Recoverables On Paid And Unpaid Losses
ReinsuranceRecoverablesOnPaidAndUnpaidLosses
89800000 usd
CY2022 us-gaap Direct Premiums Written
DirectPremiumsWritten
555600000 usd
CY2021 us-gaap Direct Premiums Written
DirectPremiumsWritten
375700000 usd
CY2020 us-gaap Direct Premiums Written
DirectPremiumsWritten
214400000 usd
CY2022 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
100000 usd
CY2021 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
0 usd
CY2020 us-gaap Assumed Premiums Written
AssumedPremiumsWritten
0 usd
CY2022 us-gaap Ceded Premiums Written
CededPremiumsWritten
333100000 usd
CY2021 us-gaap Ceded Premiums Written
CededPremiumsWritten
273400000 usd
CY2020 us-gaap Ceded Premiums Written
CededPremiumsWritten
171700000 usd
CY2022 us-gaap Premiums Written Net
PremiumsWrittenNet
222600000 usd
CY2021 us-gaap Premiums Written Net
PremiumsWrittenNet
102300000 usd
CY2020 us-gaap Premiums Written Net
PremiumsWrittenNet
42700000 usd
CY2022 us-gaap Direct Premiums Earned
DirectPremiumsEarned
490500000 usd
CY2021 us-gaap Direct Premiums Earned
DirectPremiumsEarned
292000000.0 usd
CY2020 us-gaap Direct Premiums Earned
DirectPremiumsEarned
158700000 usd
CY2022 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
0 usd
CY2021 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
0 usd
CY2020 us-gaap Assumed Premiums Earned
AssumedPremiumsEarned
0 usd
CY2022 us-gaap Ceded Premiums Earned
CededPremiumsEarned
318100000 usd
CY2021 us-gaap Ceded Premiums Earned
CededPremiumsEarned
215000000.0 usd
CY2020 us-gaap Ceded Premiums Earned
CededPremiumsEarned
81400000 usd
CY2022 us-gaap Premiums Earned Net
PremiumsEarnedNet
172400000 usd
CY2021 us-gaap Premiums Earned Net
PremiumsEarnedNet
77000000.0 usd
CY2020 us-gaap Premiums Earned Net
PremiumsEarnedNet
77300000 usd
CY2022 us-gaap Policyholder Benefits And Claims Incurred Gross
PolicyholderBenefitsAndClaimsIncurredGross
441000000.0 usd
CY2021 us-gaap Policyholder Benefits And Claims Incurred Gross
PolicyholderBenefitsAndClaimsIncurredGross
264100000 usd
CY2020 us-gaap Policyholder Benefits And Claims Incurred Gross
PolicyholderBenefitsAndClaimsIncurredGross
113400000 usd
CY2022 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Assumed
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountAssumed
0 usd
CY2021 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Assumed
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountAssumed
0 usd
CY2020 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Assumed
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountAssumed
0 usd
CY2022 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded
273700000 usd
CY2021 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded
192200000 usd
CY2020 us-gaap Reinsurance Effect On Claims And Benefits Incurred Amount Ceded
ReinsuranceEffectOnClaimsAndBenefitsIncurredAmountCeded
58700000 usd
CY2022 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
167300000 usd
CY2021 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
71900000 usd
CY2020 us-gaap Policyholder Benefits And Claims Incurred Net
PolicyholderBenefitsAndClaimsIncurredNet
54700000 usd
CY2022 us-gaap Deferred Policy Acquisition Costs Text Block1
DeferredPolicyAcquisitionCostsTextBlock1
Deferred Acquisition Costs<div style="margin-top:10pt;text-indent:27pt"><span style="background-color:#ffffff;color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Deferred acquisition costs consist primarily of commissions, premium taxes and other acquisition costs incurred that are directly related to the successful acquisition of insurance policies written on a direct basis. The amortization of deferred acquisition costs is included in other insurance expense in the consolidated statements of operations and comprehensive loss. The following table presents the policy acquisition costs deferred and amortized ($ in millions):</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:71.122%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.496%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.384%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.498%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">December 31,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deferred Acquisition Costs:</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Balance, January 1</span></td><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.2 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.5 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Add:</span></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Premium taxes and other acquisition costs</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14.1 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9.8 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Direct commissions</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">3.6 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2.4 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Less:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amortization of net deferred acquisition costs</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(17.0)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(9.5)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Balance, December 31</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.9 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">6.2 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:14pt"><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;border-top:3pt double #000;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="3" style="background-color:#cceeff;border-top:3pt double #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other Insurance Expense:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Amortization of net deferred acquisition costs</span></td><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">17.0 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">9.5 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Period costs</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">27.0 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">14.6 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total other insurance expense</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">44.0 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24.1 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>
CY2021Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
6200000 usd
CY2020Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
3500000 usd
CY2022 lmnd Deferred Policy Acquisition Cost Premium Taxes And Other Acquisition Costs
DeferredPolicyAcquisitionCostPremiumTaxesAndOtherAcquisitionCosts
14100000 usd
CY2021 lmnd Deferred Policy Acquisition Cost Premium Taxes And Other Acquisition Costs
DeferredPolicyAcquisitionCostPremiumTaxesAndOtherAcquisitionCosts
9800000 usd
CY2022 lmnd Deferred Policy Acquisition Cost Direct Commissions
DeferredPolicyAcquisitionCostDirectCommissions
3600000 usd
CY2021 lmnd Deferred Policy Acquisition Cost Direct Commissions
DeferredPolicyAcquisitionCostDirectCommissions
2400000 usd
CY2022 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
17000000.0 usd
CY2021 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
9500000 usd
CY2022Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
6900000 usd
CY2021Q4 us-gaap Deferred Policy Acquisition Costs
DeferredPolicyAcquisitionCosts
6200000 usd
CY2022 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
17000000.0 usd
CY2021 us-gaap Deferred Policy Acquisition Cost Amortization Expense
DeferredPolicyAcquisitionCostAmortizationExpense
9500000 usd
CY2022 lmnd Miscellaneous Insurance Expense
MiscellaneousInsuranceExpense
27000000.0 usd
CY2021 lmnd Miscellaneous Insurance Expense
MiscellaneousInsuranceExpense
14600000 usd
CY2022 lmnd Other Insurance Expense
OtherInsuranceExpense
44000000.0 usd
CY2021 lmnd Other Insurance Expense
OtherInsuranceExpense
24100000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
37800000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
17600000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
18200000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5900000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
19600000 usd
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2021Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
600000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11700000 usd
CY2022 us-gaap Depreciation
Depreciation
6900000 usd
CY2021 us-gaap Depreciation
Depreciation
3700000 usd
CY2020 us-gaap Depreciation
Depreciation
1700000 usd
CY2022 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
16000000 usd
CY2021 us-gaap Capitalized Computer Software Additions
CapitalizedComputerSoftwareAdditions
8100000 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
37800000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
5300000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
32500000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
0 usd
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
600000 usd
CY2022 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
5300000 usd
CY2020 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
0 usd
CY2021 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
0 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
9600000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
9300000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
5500000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
0 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
0 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
0 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
24400000 usd
CY2022 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-3200000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
26400000 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
21900000 usd
CY2022Q4 lmnd Ceded Commissions Receivable
CededCommissionsReceivable
21000000.0 usd
CY2021Q4 lmnd Ceded Commissions Receivable
CededCommissionsReceivable
14500000 usd
CY2022Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
14000000.0 usd
CY2021Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
10600000 usd
CY2022Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
5000000.0 usd
CY2021Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
0 usd
CY2022Q4 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
3700000 usd
CY2021Q4 us-gaap Accrued Investment Income Receivable
AccruedInvestmentIncomeReceivable
3400000 usd
CY2022Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
5100000 usd
CY2021Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
2800000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
75200000 usd
CY2021Q4 us-gaap Other Assets
OtherAssets
53200000 usd
CY2022 us-gaap Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense
ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
<div style="margin-top:10pt;text-indent:27pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The following table presents the activities in the liability for unpaid loss and loss adjustment expense (“LAE”) as of December 31, 2022 and 2021 ($ in millions):</span></div><div style="margin-top:10pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"/><td style="width:71.122%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.496%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.384%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.498%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="9" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">December 31,</span></td></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2022</span></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%"> </span></td><td colspan="3" style="border-top:1pt solid #000;padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Unpaid loss and LAE as of January 1</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">97.9 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">46.3 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;padding-left:10pt;text-indent:-10pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Less: Reinsurance recoverable</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">72.7 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">36.3 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Net unpaid loss and LAE as of January 1</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25.2 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">10.0 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Add: Incurred losses and LAE, net of reinsurance, related to:</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current year</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">170.5 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">73.2 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Prior years</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(3.2)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(1.3)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total incurred</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">167.3 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">71.9 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Deduct: Paid losses and LAE, net of reinsurance, related to:</span></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Current year</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">106.9 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">49.2 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;text-indent:4.5pt;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Prior years</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">30.1 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">7.5 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Total paid</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">137.0 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">56.7 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Unpaid loss and LAE, net of reinsurance recoverable acquired from Metromile</span></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">76.2 </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Unpaid loss and LAE, net of reinsurance recoverable, as of December 31</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">131.6 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">25.2 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><div style="margin-bottom:5pt;margin-top:5pt;padding-left:10pt;text-indent:-10pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Reinsurance recoverable as of December 31</span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">(1)</span></div></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">124.6 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">72.7 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Unpaid loss and LAE, gross of reinsurance recoverable, as of December 31</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">256.2 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:10pt;font-weight:400;line-height:100%">97.9 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div><div style="margin-top:6pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:12pt;font-weight:400;line-height:120%">____________</span></div><div style="margin-top:10pt;padding-left:9pt;text-indent:-9pt"><span style="color:#000000;font-family:'Arial',sans-serif;font-size:6pt;font-weight:400;line-height:120%">(1) </span><span style="color:#000000;font-family:'Arial',sans-serif;font-size:8pt;font-weight:400;line-height:120%">Reinsurance recoverable in this table includes only ceded unpaid loss and LAE</span></div>
CY2021Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
97900000 usd
CY2020Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
46300000 usd
CY2021Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
72700000 usd
CY2020Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
36300000 usd
CY2021Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
25200000 usd
CY2020Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
10000000.0 usd
CY2022 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
170500000 usd
CY2021 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Current Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersCurrentYearClaimsAndClaimsAdjustmentExpense
73200000 usd
CY2021 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-1300000 usd
CY2021 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-1300000 usd
CY2022 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
167300000 usd
CY2021 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Incurred Claims1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseIncurredClaims1
71900000 usd
CY2022 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
106900000 usd
CY2021 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Current Year1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidCurrentYear1
49200000 usd
CY2022 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
30100000 usd
CY2021 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Claims Paid Prior Years1
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseClaimsPaidPriorYears1
7500000 usd
CY2022 us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
137000000.0 usd
CY2021 us-gaap Payments For Losses And Loss Adjustment Expense
PaymentsForLossesAndLossAdjustmentExpense
56700000 usd
CY2022Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
131600000 usd
CY2021Q4 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
25200000 usd
CY2022Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
124600000 usd
CY2021Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
72700000 usd
CY2022Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
256200000 usd
CY2021Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
97900000 usd
CY2022 us-gaap Supplemental Information For Property Casualty Insurance Underwriters Prior Year Claims And Claims Adjustment Expense
SupplementalInformationForPropertyCasualtyInsuranceUnderwritersPriorYearClaimsAndClaimsAdjustmentExpense
-3200000 usd
CY2022Q4 us-gaap Shortduration Insurance Contracts Liability For Unpaid Claims And Allocated Claim Adjustment Expense Net
ShortdurationInsuranceContractsLiabilityForUnpaidClaimsAndAllocatedClaimAdjustmentExpenseNet
124300000 usd
CY2022Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments
124600000 usd
CY2022Q4 lmnd Short Duration Insurance Contracts Liability For Unallocated Loss Adjustment Expense Net
ShortDurationInsuranceContractsLiabilityForUnallocatedLossAdjustmentExpenseNet
7300000 usd
CY2022Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
256200000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
35200000 usd
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
22300000 usd
CY2022Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
12800000 usd
CY2021Q4 us-gaap Employee Related Liabilities Current And Noncurrent
EmployeeRelatedLiabilitiesCurrentAndNoncurrent
5400000 usd
CY2022Q4 lmnd Uncertain Tax Position
UncertainTaxPosition
8100000 usd
CY2021Q4 lmnd Uncertain Tax Position
UncertainTaxPosition
0 usd
CY2022Q4 us-gaap Accrued Advertising Current And Noncurrent
AccruedAdvertisingCurrentAndNoncurrent
6800000 usd
CY2021Q4 us-gaap Accrued Advertising Current And Noncurrent
AccruedAdvertisingCurrentAndNoncurrent
11200000 usd
CY2022Q4 lmnd Premium Taxes Payable
PremiumTaxesPayable
6200000 usd
CY2021Q4 lmnd Premium Taxes Payable
PremiumTaxesPayable
5400000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
5500000 usd
CY2021Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
4600000 usd
CY2022Q4 lmnd Advance Premium Liability
AdvancePremiumLiability
2100000 usd
CY2021Q4 lmnd Advance Premium Liability
AdvancePremiumLiability
2000000.0 usd
CY2022Q4 lmnd Accrued Hosting And Software
AccruedHostingAndSoftware
2000000.0 usd
CY2021Q4 lmnd Accrued Hosting And Software
AccruedHostingAndSoftware
600000 usd
CY2022Q4 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
600000 usd
CY2021Q4 us-gaap Accrued Income Taxes
AccruedIncomeTaxes
4700000 usd
CY2022Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
300000 usd
CY2021Q4 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
0 usd
CY2022Q4 us-gaap Other Sundry Liabilities
OtherSundryLiabilities
4900000 usd
CY2021Q4 us-gaap Other Sundry Liabilities
OtherSundryLiabilities
1200000 usd
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
84500000 usd
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
57400000 usd
CY2020Q3 lmnd Temporary Equity Conversion To Permanent Equity Shares
TemporaryEquityConversionToPermanentEquityShares
31557107 shares
CY2020Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2020Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2020Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2020Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000 shares
CY2021Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.00001
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2022Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000 shares
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.00001
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
6573744 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
46.03
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y3M14D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
85860000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
4351371 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
27.47
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
448368 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
7.97
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
716090 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
50.11
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
9760657 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
39.43
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y2M1D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
8050000.00 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
3420165 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
28.38
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y10M13D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
7930000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
6340492 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
45.37
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y10M20D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
110000 usd
CY2022 lmnd Share Based Compensation Arrangement By Share Based Payment Award Options Assumed In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsAssumedInPeriod
72410 shares
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
59300000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
44100000 usd
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10600000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
59300000 usd
CY2021 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
44100000 usd
CY2020 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10600000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
262200000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
127400000 usd
CY2022Q4 lmnd Deferred Tax Assets Deferred Income Ceding Commission
DeferredTaxAssetsDeferredIncomeCedingCommission
8600000 usd
CY2021Q4 lmnd Deferred Tax Assets Deferred Income Ceding Commission
DeferredTaxAssetsDeferredIncomeCedingCommission
7800000 usd
CY2022Q4 lmnd Deferred Tax Assets Lease Liabilities
DeferredTaxAssetsLeaseLiabilities
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