Lemonade secures $250M growth financing from Hannover Re, repayable from customer premiums

Filed June 24, 2026 · Period ending June 22, 2026 · ~1 min read

Key Changes

• high

  Hannover Re will provide up to $250M to fund sales and marketing through 2028, capped at $150M in 2027 and rising to $250M in 2028, allowing Lemonade to accelerate customer acquisition without immediate cash outlay.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
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  Hannover finances up to 80% of monthly growth spend (max $20M per cohort); Lemonade repays from premiums collected from those customers at 3-year Treasury rate plus 5.8%, then retains all future premiums after full repayment.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• medium

  Agreement includes financial covenants and termination provisions; specific terms will be disclosed in the Q2 2026 10-Q filing.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →