Related Party Transactions

6 Months Ended

Jun. 30, 2020

Related Party Transactions [Abstract]

Related Party Transactions

Related Party Transactions

The Company uses the services of a travel agency owned by a relative of one of the Company’s key stockholders. The Company incurred travel related expenses in the amount of approximately less than $0.1 million during the three and six months ended June 30, 2020 and less than $0.1 million and $0.1 million during the three and six months ended June 30, 2019, respectively, in connection with these services.

The Company has leased office space in the United States and The Netherlands from an affiliate. The rental expense recorded was less than $0.1 million and $0.1 million for the three and six months ended June 30, 2020, respectively. Rental expense for each of the three and six months ended June 30, 2019 was less than $0.1 million. There were no outstanding amounts due to or from related parties as of June 30, 2020 and December 31, 2019.

The Company’s Chief Executive Officer and the Company’s President and Chief Operating Officer, both of whom are also members of the Company’s board of directors, are the two sole members of board of directors of the Lemonade Foundation. During the six months ended June 30, 2020, the Company contributed of 500,000 shares of common stock with a fair market value of $24.36 per share (see Note 10). The Company recorded $12.2 million of non-cash expense within general and administrative expense in connection with this contribution. As of June 30, 2020, the Company had a receivable of $0.1 million from the Lemonade Foundation in connection with certain expenses paid for by the Company on behalf of the Lemonade Foundation.