Lemonade
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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”. -
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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InsurTechs, including Lemonade, Root, Hippo, and Metromile, shed some short interest but remain the target of choice for short-sellers.
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The Inside P&C research team looks forward to the big issues of the new year.
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Lemonade, Root, and Metromile remain the focus of short sellers, as most firms see little short interest change.
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Inside P&C dissects the biggest deals of the year across broking, commercial lines and InsurTech.
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Carriers are planning for inflationary threats and have been responding to major catastrophes, while the InsurTech and broking markets have driven M&A drama.
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Lemonade and Root remain the focal points of short sellers, while Metromile’s stock loan fee rate increases (pending acquisition).
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Short interest fell in InsurTechs, but not enough to ease the pressure on the sector.
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