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Unpaid Loss and Loss Adjustment Expense (Tables)
 12 Months Ended
Dec. 31, 2024
Insurance [Abstract]  
Activity in the liability for unpaid loss and LAE
The following table presents the activities in the liability for unpaid loss and loss adjustment expense (“LAE”) as of December 31, 2024 and 2023 ($ in millions):
December 31,
2024 20232022
Unpaid loss and LAE as of January 1$262.3 $256.2 $97.9 
Less: Reinsurance recoverable(1)
120.2 124.6 72.7 
Net unpaid loss and LAE as of January 1142.1 131.6 25.2 
Add: Incurred losses and LAE, net of reinsurance, related to:
Current year287.0 286.2 170.5 
Prior years(10.0)(5.8)(3.2)
Total incurred277.0 280.4 167.3 
Deduct: Paid losses and LAE, net of reinsurance, related to:
Current year195.4 189.4 106.9 
Prior years74.9 80.5 30.1 
Total paid270.3 269.9 137.0 
Unpaid loss and LAE, net of reinsurance recoverable acquired from Metromile— — 76.2 
Unpaid loss and LAE, net of reinsurance recoverable, as of December 31
148.6 142.1 131.6 
Reinsurance recoverable as of December 31(1)
149.5 120.2 124.6 
Unpaid loss and LAE, gross of reinsurance recoverable, as of December 31$298.1 $262.3 $256.2 
(1) Reinsurance recoverable in this table includes only ceded unpaid loss and LAE.
Claims development information - incurred and paid losses
The following table presents incurred loss and ALAE, net of reinsurance, as well as IBNR loss reserves, net of reinsurance, and the number of reported claims ($ in millions, except for number of claims):
        December 31, 2024
         Cumulative
Number of
Reported Claims
Accident YearDecember 31, 
201620172018 2019 2020 2021 20222023
2024
IBNR (2)
(unaudited)(unaudited)(unaudited) (unaudited) (unaudited) (unaudited) (unaudited)(unaudited)  
2016 (1)
$— $— $— $— $— $— $— $— $— $— 8
2017— 1.7 1.7 1.7 1.7 1.7 1.7 1.7 1.6 — 1,759
2018— — 15.0 13.5 13.4 13.4 13.4 13.4 13.4 — 10,534
2019— — — 46.0 46.1 46.3 46.3 46.1 46.2 — 19,507
2020— — — — 53.0 51.5 51.5 52.4 52.4 — 30,349
2021— — — — — 59.4 55.9 58.4 58.6 0.2 53,497
2022— — — — — — 96.5 92.6 93.8 1.7 55,977
2023— — — — — — — 143.2 136.5 8.2 60,623
2024
— — — — — — — — 154.7 45.7 64,072
Total incurred losses and ALAE, net$557.2 $55.8 296,326

(1)    Amounts in accident year 2016 for the years ended December 31, 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023 and 2024 were less than $0.1 million, respectively.
(2)    IBNR, net of reinsurance as of December 31, 2024 for accident years 2016, 2017, 2018, 2019, and 2020 was less than $0.1 million.
The following table presents cumulative paid loss and ALAE, net of reinsurance ($ in millions):

Accident YearDecember 31,
201620172018 2019 2020 202120222023
2024
(unaudited)(unaudited)(unaudited) (unaudited) (unaudited) (unaudited)(unaudited)(unaudited)
2016 (1)
$— $— $— $— $— $— $— $— $— 
2017— 1.6 1.7 1.7 1.7 1.7 1.7 1.7 1.7 
2018— — 13.2 13.3 13.4 13.4 13.4 13.4 13.4 
2019— — — 36.4 46.1 46.3 46.3 46.2 46.2 
2020— — — — 43.1 50.2 51.3 52.0 52.1 
2021— — — — — 37.8 53.4 56.7 57.8 
2022— — — — — — 52.7 85.5 90.7 
2023— — — — — — — 88.9 122.3 
2024
— — — — — — — — 89.1 
Total paid losses and ALAE, net$473.3 
Total unpaid loss and ALAE reserves, net$83.8 
Ceded unpaid loss and ALAE
109.3 
Gross unpaid loss and ALAE
$193.1 

(1)    Cumulative paid loss and ALAE, net of reinsurance related to accident year 2016 was less than $0.1 million during the years ended December 31, 2016, 2017, 2018, 2019, 2020 , 2021, 2022, 2023, and 2024, respectively.
The following table presents incurred loss and ALAE, net of reinsurance, as well as IBNR loss reserves, net of reinsurance, and the number of reported claims ($ in millions, except for number of claims):
     December 31, 2024
      Cumulative
Number of
Reported Claims
December 31,  
Accident Year 2020 20212022
2023
 
2024
IBNR
 (unaudited) (unaudited)(unaudited)(unaudited)   
2020$0.7 $0.6 $1.0 $0.6 $0.7 $— 20,873
2021— 10.0 9.7 9.5 9.5 — 196,787
2022
— — 27.4 25.3 25.2 — 375,659
2023
— — — 51.9 48.9 — 510,045
2024
— — — — 72.3 3.7 668,809
Total incurred losses and ALAE, net$156.6 $3.7 1,772,173
The following table presents cumulative paid loss and ALAE, net of reinsurance ($ in millions):

December 31,
Accident Year
 20202021 
2022
2023
2024
 (unaudited)(unaudited) (unaudited)(unaudited)
2020$0.4 $0.6 $0.7 $0.7 $0.7 
2021— 7.6 9.4 9.5 9.5 
2022
— — 21.8 25.1 25.1 
2023
— — — 45.8 48.9 
2024
— — — — 67.6 
Total paid losses and ALAE, net$151.8 
Total unpaid loss and ALAE reserves, net$4.8 
Ceded unpaid loss and ALAE
6.2 
Gross unpaid loss and ALAE
$11.0 
The following table presents incurred loss and ALAE, net of reinsurance, as well as IBNR loss reserves, net of reinsurance, and the number of reported claims ($ in millions, except for number of claims):

     December 31, 2024
      Cumulative
Number of
Reported Claims
Accident Year
December 31,
 
 20162017201820192020 20212022 2023
2024
IBNR
 (unaudited)(unaudited)(unaudited)(unaudited)(unaudited) (unaudited)(unaudited) (unaudited)  
2016 (1)
$1.6 $2.0 $1.7 $1.7 $1.7 $1.8 $2.0 $3.4 $3.3 $— 1,628 
2017— 28.6 30.0 30.2 31.4 32.3 32.5 38.0 38.1 — 29,056 
2018— — 31.4 29.7 31.9 31.8 33.9 38.6 42.1 0.2 44,103 
2019— — — 24.2 24.9 23.2 24.6 33.2 31.6 0.6 51,136 
2020— — — — 10.8 12.0 11.8 16.7 15.4 1.0 37,324 
2021— — — — — 75.3 75.3 86.8 84.7 3.0 43,113 
2022— — — — — — 83.1 92.0 92.3 8.3 46,776 
2023 (2)
— — — — — — — 79.1 81.1 10.0 39,118 
2024 (2)
— — — — — — — — 51.2 17.1 26,994 
Total incurred losses and ALAE, net$439.8 $40.2 319,248 

(1) Table above retrospectively includes Metromile's historical incurred accident year claim information for periods presented.
(2) Includes Lemonade Re SPC incurred accident year claim information.
The following table presents cumulative paid loss and ALAE, net of reinsurance ($ in millions):

December 31,
Accident Year201620172018 20192020 202120222023
2024
(unaudited)(unaudited)(unaudited) (unaudited)(unaudited) (unaudited)(unaudited)(unaudited)
2016$0.2 $1.2 $1.5 $1.6 $1.6 $1.7 $1.9 $2.2 $3.3 
2017— 17.3 24.3 28.1 30.1 30.8 31.7 24.6 38.3 
2018— — 16.8 24.4 28.2 27.6 30.2 25.1 41.7 
2019— — — 13.5 18.7 14.5 18.8 22.3 30.7 
2020— — — — 5.2 (0.9)5.6 15.0 14.0 
2021— — — — — 38.4 58.9 77.1 80.2 
2022— — — — — — 45.4 74.0 81.4 
2023 (3)
— — — — — — — 43.2 58.4 
2024 (3)
— — — — — — — — 31.8 
Total paid losses and ALAE, net$379.8 
Total unpaid loss and ALAE reserves, net (2)
$59.6 
Ceded unpaid loss and ALAE
$34.1 
Gross unpaid loss and ALAE
$93.7 

(1) Table above retrospectively includes Metromile's historical paid accident year claim information for periods presented.
(2) Includes the fair value adjustment on insurance contract intangible liability of $1.6 million.
(3) Includes Lemonade Re SPC paid accident year claim information.
Historical claims duration
Average annual percentage payout of accident year incurred claims by age, net of reinsurance (unaudited supplementary information)
Year 1 Year 2 Year 3
Home and renters75 %18 %7 %
Average annual percentage payout of accident year incurred claims by age, net of reinsurance (unaudited supplementary information)
Year 1 Year 2 Year 3
Pet99 %1 %— %
Average annual percentage payout of accident year incurred claims by age, net of reinsurance (unaudited supplementary information)
Year 1 Year 2 Year 3
Car54 %26 %20 %
Reconciliation of net incurred and paid loss information in the loss reserve rollforward and development tables
The reconciliation of the net incurred and paid loss information in the loss reserve rollforward table and development tables with respect to the current accident year is as follows ($ in millions):
December 31, 2024
Unpaid Loss and ALAE, net
Home and renters$83.8 
Pet4.8 
Car60.0 
148.6 
Reinsurance recoverable on Unpaid Loss and ALAE, net
Home and renters109.3 
Pet6.2 
Car34.0 
149.5 
Unallocated LAE— 
Gross Unpaid Loss and Loss Adjustment Expenses$298.1