September 16, 2025

$LMND (+1,4 %)

• over 90% in the last 3 months
• just under 50% in the last month

Short quota just under 30% 🫣

The market is slowly recognizing the potential, momentum continues

Currently, 98% of all onboarding and 55% of all claims processing is handled by native AI agents without human interaction

This means that scaling is possible without an increase in personnel.

This means an increase in efficiency and operational leverage.

AI-centric design also reduces costs.

The majority of costs in the insurance industry arise from claims settlement.

This is because humans used to be heavily involved in this.

As $LMND (+1,4 %) now handling this with the help of AI, their loss ratio is also falling.

Lower costs lead to lower prices.

Some of these cost savings are passed on to customers in the form of lower prices.

Currently, prices are on average 68% lower than those of the competition.

This creates a positive feedback cycle:

- Operating leverage reduces costs.

- Reduced costs increase efficiency.

- This allows $LMND (+1,4 %) charge lower prices.

- Lower prices attract more customers.

- Larger scale increases operating leverage again.

A cycle of growth 🚀

$ALV (+0,33 %)
$MUV2 (+0,31 %)
$ALL (-0,7 %)
$PGR (-1,73 %)
$BRO (-0,27 %)
$ZURN (-0,33 %)
$CS (+0,17 %)
$BRK.B (+0,27 %)

$LMND (+1,4 %)

$LMND (+1,4 %) introduced an independent buildings insurance policy in the UK this week.

Lemonade EU is growing by around 200% year-on-year and customer acquisition costs are less than half those in the US.

"We are delighted to complete our product offering for homeowners in the UK," said Sarvesh Ramachandran, Head of Lemonade UK. "Lemonade has quickly become the preferred choice for the next generation of UK insurance buyers."

https://www.reinsurancene.ws/lemonade-introduces-standalone-buildings-insurance-for-uk-homeowners/

$LMND (+1,4 %) :

- 7 consecutive quarters of sales growth

- 7 consecutive quarters with improvements in the claims ratio

- No increase in fixed costs

- Car scales quickly

- Rapid international scaling

- EBITDA profitable next year

🚀

$BRO (-0,27 %)
$PGR (-1,73 %)
$ALV (+0,33 %)
$MUV2 (+0,31 %)
$CS (+0,17 %)
$HNR1 (-0,39 %)
$ALL (-0,7 %)

$LMND (+1,4 %)

One of the most impressive key figures when you have growth of 80 % (800,000 customers)

while operating costs continue to fall.

This shows very nicely how AI and automation can have an impact on a company/business model that has been built and trained from the ground up with artificial intelligence.

There are hardly any other companies where the number of employees remains almost the same or the number of employees is likely to have decreased between 2022 and 2025, but the company continues to grow strongly.

Employees 2022: approx. 1367

Employees 2025 approx. 1235

(According to my internet research)

$PGR (-1,73 %)
$BRO (-0,27 %)
$ALV (+0,33 %)
$MUV2 (+0,31 %)
$ALL (-0,7 %)
$UNH (+1,21 %)
$HNR1 (-0,39 %)
$BRK.B (+0,27 %)
$ZURN (-0,33 %)
$CS (+0,17 %)

$LMND (+1,4 %)

• Revenue: $164.1M (Est. $161.4M) ✅; UP +46% YoY
• EPS: -$0.60 (Est. -$0.80) ✅
• In-Force Premium: $840M; UP +22% YoY

Customer & Premium Metrics

• Premium per Customer: $394; UP +11% YoY
• Total Customers: 2.1M; UP +10% YoY
• Policies in Force: 2.13M
• Annual Dollar Retention (ADR): 87%

Other Q2 Metrics:

• Gross Profit: $41.3M; UP +91% YoY
• Adj EBITDA: -$30.4M
• Net Loss: $41.6M
• Gross Loss Ratio: 77% (vs. 94% YoY)
• Cash & Investments: $888M
• Net Cash Used in Operating Activities: -$29.8M

CEO comment:

🟡 "We achieved record sales and margin improvements. This is the strongest second quarter in Lemonade's history."

🟡 "We are on track to achieve our target of adjusted EBITDA profitability by mid-2026."

$BRO (-0,27 %)
$BRK.B (+0,27 %)
$BRK.A (+0,28 %)
$PGR (-1,73 %)
$ALV (+0,33 %)
$MUV2 (+0,31 %)
$CS (+0,17 %)
$HNR1 (-0,39 %)
$UNH (+1,21 %)
$ALL (-0,7 %)
$601318
$CB (+0 %)
$ZURN (-0,33 %)
$TLX (-0,18 %)
$HSX (-0,32 %)

$LMND (+1,4 %)

History:

$LMND (+1,4 %) is an insurance company that was founded as a public benefit corporation and has its headquarters in New York and its European branch in Amsterdam. Lemonade has been traded as a public company on the New York Stock Exchange since July 2020.

$LMND (+1,4 %) Insurance was founded in 2015 by Daniel Schreiber and Shai Wininger with the goal of revolutionizing the insurance industry through technology. The company started by providing home insurance and relies heavily on artificial intelligence and chatbots for claims processing and customer service.

$LMND (+1,4 %) has experienced rapid expansion, including an IPO in 2020 and expansion into Germany

business model:

Lemonade, Inc. offers renters, homeowners, auto, pet and life insurance.

Current market capitalization 3 billion

The company's full-stack, artificial intelligence-powered insurance carriers in the United States and European Union replace brokers and bureaucracy with bots and machine learning. The company's digital substrate enables it to integrate marketing and onboarding with underwriting and claims processing, and to collect and utilize data.

Its technology includes Data Advantage,

AI Maya, AI Jim, CX.AI, Forensic Graph, Blender and Cooper.

AI Maya, the onboarding and customer experience bot, uses natural language to assist customers in the onboarding process.

AI Jim, the claims reporting bot, receives the customer's first claim and pays the claimant or rejects the claim without human intervention.

The company offers pet insurance policies that cover diagnoses, procedures, medication, accidents or illnesses. Even the basic pet insurance covers blood tests, urinalysis, laboratory tests and CT scans.

What is the Lemonade $LMND (+1,4 %)
Giveback?

Giveback is at the heart of Lemonade. This core element of the business model enables customers to use their Lemonade insurance policies to support causes that are close to their hearts.

Since 2017, Lemonade has $LMND (+1,4 %) donated over 10 million US dollars to help build new homes, provide clean water, improve education, promote animal rights and much more.

Here's how it works:

When a customer purchases a $LMND (+1,4 %) renters, homeowners, auto or pet insurance, charges a flat fee to cover $LMND (+1,4 %) a flat fee to support and grow the business. A portion of the premiums goes towards claims settlement and the balance goes directly to one of their Giveback Partners - non-profit organizations selected by our customers.

$LMND (+1,4 %) is a non-profit corporation:

$LMND (+1,4 %) is a Public Benefit Corporation and a certified B Corp, which means they are legally committed to making a positive social impact. B Corp certification is awarded to companies that demonstrate that they balance profit and purpose while putting people and the planet at the center.

Every three years, they undergo a comprehensive assessment of their entire organization.

Number of employees: 1 258 (end of 2024)

Profitability:

$LMND (+1,4 %) Approaching a turning point, possibly offering a promising investment opportunity.

Profitability increases with size, as costs do not rise due to additional premiums, as is normally the case with conventional insurance companies.

Management expects EBITDA profitability in 2026 and net profit profitability in 2027.

They see an extremely clear path to profitability:

They also have a clear path to profitability :

- Loss ratio from 92% to 73

- Net profit margin -123% to -20.2%

- Continued increase in sales growth rates

Growth:

Growth is currently still controlled, but the real growth is yet to come, with sales growth rates continuing to rise in the last two quarters.

They have been able to achieve these growth rates without an expansive expansion (both in existing and additional potential states) of automobile insurance, which represents a huge opportunity for $LMND (+1,4 %) represents a huge opportunity.

Car insurance

$LMND (+1,4 %) currently has around 2.3 million customers who use renters, pet and other insurance products. These customers use $LMND (+1,4 %) for one reason: favorable price and convenience.

The share of car insurance is currently still very small and has a lot of room for expansion, so if we were to assume that only 30% of them become car insurance customers with an average annual turnover of USD 1,800, that would be an additional USD 1.24 billion in turnover per year ... just by cross-selling 30% (without any other new customers)

Pet insurance:

The pet insurance market was a $5 billion market in the US last year. It is expected to reach 6 billion dollars in 2025 and 15.7 billion dollars by 2030, growing by 22% annually.

$LMND (+1,4 %) - Total annual premiums recently surpassed the $1 billion mark. So if you were to capture 50% of the pet insurance market, premiums would increase eightfold in just five years (800% assuming the projected growth above)

Trupanion (green line) has a 25% market share today. $LMND (blue line) is around 5%.

However, the search trend will continue to have a positive effect for $LMND (+1,4 %) especially as it is only just beginning to expand further into all states. (This also applies to the other insurance segments)

Opportunities/long-term potential:

I think the future possibilities and opportunities for $LMND (+1,4 %) a supposedly boring industry are enormous.

The insurance market has one of the largest TAMs of all.

The global insurance market was worth around USD 8 trillion in 2024. The USA and China are the largest insurance markets worldwide, with the USA leading the way with a market share of around 45% and China with around 10%.

• Slight international expansion (online)
• Product expansion (additional lines)
• Enormous cross-selling potential
• Decreasing dependence on reinsurance
• Simple and fast premium calculation, conclusion and claims settlement (through AI)
• Already tested/calculated in-house: https://www.lemonade.com
• 10-fold sales opportunity

$ALV (+0,33 %)
$MUV2 (+0,31 %) , $HNR1 (-0,39 %) , $PGR (-1,73 %) , $GEC , $ALL (-0,7 %) , $AIG (-0,13 %) , $UNH (+1,21 %) , $CVS (+0,54 %) , $UQA (+1,2 %) , $G (+0,38 %) , $VIG (-0,95 %)

Hello everyone 👋

I am pursuing a dividend growth strategy and would like to supplement this with insurance stocks / financial stocks. Insurance companies are exciting candidates for me due to their stable business models and solid dividend policy.

I am particularly interested in:

• Which insurance stocks do you currently have in your portfolio to complement your dividend strategy?
• Which companies do you see as reliable for dividend growth in the long term?
• Are there currently any interesting entry opportunities from a valuation or market perspective?

Some candidates that I am already looking at:

• Munich Re $MUV2 (+0,31 %)
• 
  Prudential Financial$PRU (+0,34 %)
• 
  Arthur J Gallagher $AJG (-0,7 %)
• 
  Aflac $AFL (-0,58 %)
• 
  Progressive $PGR (-1,73 %)

I'm looking forward to your opinions, tips and experiences - I'm also happy to hear about lesser-known titles from the insurance sector!

To give me a better overview, I have looked up the publication dates of all the quarterly figures of the companies in which I am invested.

Of course I don't want to withhold this from you:

May 2025

• 05.05.25 -> Realty Income $O (-0,39 %)
• 06.05.25 -> Ferrari $RACE (+1,37 %)
• 06.05.25 -> Progressive $PGR (-1,73 %)
• 06.05.25 -> Zoetis $ZTS (-0,37 %)
• 07.05.25 -> Novo Nordisk $NOVO B (+0,13 %)
• 08.05.25 -> Main Street Capital $MAIN (-0,58 %)
• 15.05.25 -> Allianz $ALV (+0,33 %)
• 20.05.25 -> Mutares $MUX (+1,24 %)
• 22.05.25 -> NextEra Energy $NEE (+0,96 %)

July 2025

• 10.07.25 -> Progressive $PGR (-1,73 %)
• 21.07.25 -> Prologis $PLD (+0,12 %)
• 23.07.25 -> Amphenol $APH (-0,89 %)
• 24.07.25 -> Greencoat UK Wind $UKW (+0,8 %)
• 24.07.25 -> NextEra Energy $NEE (+0,96 %)
• 24.07.25 -> Vidrala $VID (+1,14 %)
• 25.07.25 -> Palfinger $PAL (-1,74 %)
• 25.07.25 -> Volkswagen $VOW (+1,98 %)
• 30.07.25 -> HSBC $HSBA (+0,87 %)
• 30.07.25 -> Realty Income $O (-0,39 %)
• 30.07.25 -> Rio Tinto $RIO (+1,48 %)
• 31.07.25 -> Ferrari $RACE (+1,37 %)
• 31.07.25 -> Main Street Capital $MAIN (-0,58 %)
• 31.07.25 -> OMV $OMV (-0,37 %)

August 2025

• 05.08.25 -> Aflac $AFL (-0,58 %)
• 05.08.25 -> DHL Group $DHL (-0,13 %)
• 05.08.25 -> Public Storage $PSA (-1,4 %)
• 06.08.25 -> Novo Nordisk $NOVO B (+0,13 %)
• 07.08.25 -> Allianz $ALV (+0,33 %)
• 12.08.25 -> Mutares $MUX (+1,24 %)
• 12.08.25 -> Zoetis $ZTS (-0,37 %)

October 2025

• 09.10.25 -> Progressive $PGR (-1,73 %)
• 21.10.25 -> Prologis $PLD (+0,12 %)
• 22.10.25 -> Amphenol $APH (-0,89 %)
• 22.10.25 -> NextEra Energy $NEE (+0,96 %)
• 27.10.25 -> Palfinger $PAL (-1,74 %)
• 28.10.25 -> HSBC $HSBA (+0,87 %)
• 29.10.25 -> OMV $OMV (-0,37 %)
• 29.10.25 -> Vidrala $VID (+1,14 %)
• 30.10.25 -> Main Street Capital $MAIN (-0,58 %)
• 30.10.25 -> Volkswagen $VOW (+1,98 %)
• 30.10.25 -> Zoetis $ZTS (-0,37 %)

November 2025

• 03.11.25 -> Public Storage $PSA (-1,4 %)
• 04.11.25 -> Aflac $AFL (-0,58 %)
• 04.11.25 -> Ferrari $RACE (+1,37 %)
• 05.11.25 -> Novo Nordisk $NOVO B (+0,13 %)
• 06.11.25 -> DHL Group $DHL (-0,13 %)
• 10.11.25 -> Realty Income $O (-0,39 %)
• 13.11.25 -> Mutares $MUX (+1,24 %)
• 14.11.25 -> Allianz $ALV (+0,33 %)

January 2026

• 23.01.26 -> NextEra Energy $NEE (+0,96 %)
• 27.01.26 -> Prologis $PLD (+0,12 %)
• 28.01.26 -> Progressive $PGR (-1,73 %)
• 28.01.26 -> Amphenol $APH (-0,89 %)
• 29.01.26 -> Ferrari $RACE (+1,37 %)
• 29.01.26 -> OMV $OMV (-0,37 %)

February 2026

• 04.02.26 -> Aflac $AFL (-0,58 %)
• 04.02.26 -> Novo Nordisk $NOVO B (+0,13 %)
• 13.02.26 -> Allianz $ALV (+0,33 %)
• 17.02.26 -> Zoetis $ZTS (-0,37 %)
• 19.02.26 -> Main Street Capital $MAIN (-0,58 %)
• 24.02.26 -> HSBC $HSBA (+0,87 %)
• 24.02.26 -> Palfinger $PAL (-1,74 %)
• 24.02.26 -> Public Storage $PSA (-1,4 %)
• 24.02.26 -> Realty Income $O (-0,39 %)
• 26.02.26 -> Greencoat UK Wind $UKW (+0,8 %)
• 26.02.26 -> Vidrala $VID (+1,14 %)

March 2026

• 04.03.26 -> Rio Tinto $RIO (+1,48 %)
• 05.03.26 -> DHL Group $DHL (-0,13 %)
• 17.03.26 -> Volkswagen $VOW (+1,98 %)

April 2026

• 15.04.26 -> Mutares $MUX (+1,24 %)

Ps: Does anyone have the dates of the quarterly figures for $SHEL (-0,11 %) ? Unfortunately I can't find them online.

After making my first small investments of a few hundred euros in the stock market in February '25, I added a larger amount in the course of April. It also took some time to develop an investment strategy; where do I want to invest? What risk do I want to take? Accumulating or distributing? ETFs and/or individual shares? If so, which ones and why? Are there specific countries and/or sectors I would like to focus on?

Only at the end of last week were all the answers to these questions clear: a long-term investment horizon of just over 35 years with relatively low risk. A healthy ETF/share mix of 60/40. Distributing portfolio with high-yield and high-growth positions and with a relative focus on the USA and Europe.

I have a good feeling that I am happy with my strategy in the long term and finally no longer have to constantly turn the entire portfolio inside out.

My ETFs and individual stocks are $HMWO (+0,43 %)
$TDIV (+0,07 %)
$DGSD (-0,21 %)
$MAIN (-0,58 %)
$NOVO B (+0,13 %)
$PGR (-1,73 %)
$PSA (-1,4 %)
$UKW (+0,8 %)
$APH (-0,89 %)
$DHL (-0,13 %)
$HSBA (+0,87 %)
$MUX (+1,24 %)
$NEE (+0,96 %)
$ZTS (-0,37 %)
$AFL (-0,58 %)
$O (-0,39 %)
$SHEL (-0,11 %)
$VID (+1,14 %)
$RACE (+1,37 %)
$PLD (+0,12 %)
$OMV (-0,37 %)
$PAL (-1,74 %)
$RIO (-0,48 %) and last but not least $VOW (+1,98 %)

#dividende
#dividends
#etfs
#growth
#personalstrategy
#portfoliofeedback