Lemonade, Inc. (NYSE: LMND) announced the renewal of its reinsurance program, effective July 1, 2026, reducing its quota share cession to approximately 18% of premium from approximately 20% previously.

The renewed program also expands catastrophe protection, including additional tail catastrophe coverage for higher-volatility and catastrophe-exposed risks. One new reinsurer is joining Lemonade's primary quota share panel alongside existing partners.

As part of the renewal, Lemonade will allow its Property Per Risk coverage to expire while expanding its European catastrophe excess of loss program. The program covers Lemonade's global business and is set for a standard 12-month term.

"This renewal improves Lemonade's reinsurance economics, coverage, and capital efficiency at the same time," said Tim Bixby, CFO of Lemonade. "We are retaining more premium, adding protection against the volatility that matters most, and doing so on terms that are attractive on a risk-adjusted basis."

The information is based on a press release issued by Lemonade.