Lemonade Insurance Company

Climate Impact & Sustainability Data (2021, 2022)

In July 2021, the Company donated €34 thousand to 22 charities in Europe through the Giveback program.

During 2021 the Supervisory Board appointed two additional Management Board members that were approved by the DNB and the AFM.
A full review of the Remuneration Policy was completed in 2021, including a thorough internal audit. All recommendations have been implemented.

The global pandemic resulting from the disease known as COVID-19, caused by a novel strain of coronavirus, SARS-CoV-2, has caused national and global economic and financial market disruptions and may adversely impact our business.
Although the initial loss and ALAE ratio is high, it is improving year on year and the Company is confident that as the book becomes more mature and gains scale the loss and ALAE ratio will drop to a sustainable level similar to its US launch experience.

Appropriate measures have been undertaken to address these risks and ensure business continuity from operational, IT and financial perspectives.
Lemonade Insurance N.V. conducted a risk assessment of the potential operational and financial impact of the Coronavirus/COVID-19 during the pandemic. In addition, a stress-test was conducted by applying scenario 3 and 4 of the European Centre for Disease Prevention and Control and assessing the various risks and mitigation measures already in place or to be implemented to further reduce the impact.
By limiting the sum insured that can be underwritten per policy, the risk of major losses is mitigated.
In line with the risk tolerance as set by the board, appropriate reinsurance is secured in order to de-risk the balance sheet, reduce the required capital and increase the financial stability of the European operation.

Climate Change Data