Charlie Rogers's questions to Lemonade Inc (LMND) leadership • Q3 2024
Question
Charlie Rogers asked for clarification on the embedded expectations for Hurricane Milton losses in the Q4 guidance. He also requested the catastrophe and prior year development figures on a net basis and asked for a premium breakdown within the 'home multi-peril' line.
Answer
CFO Timothy Bixby stated that the impact from Hurricane Milton has been nominal and is not a material concern for Q4. He provided the net figures, noting a CAT impact of ~11% and a favorable prior period development of ~1%. While declining to break out the home line quarterly, he gave order-of-magnitude premium per customer figures: ~$1,500 for home/condo and ~$170 for renters.