Lemonade shares rise 30% on 87% Q1 loss ratio and improved FY Ebitda loss guidance

Lemonade has improved its gross loss ratio to 87 percent for the first quarter, with a reduction in its Ebitda loss to $50.8mn prompting the insurtech to revise its guidance for the metric for the full-year, with investors on Thursday responding by sending the share price up almost 30 percent.