What is Lemonade's pet — IBNR?

Lemonade (LMND) reported pet — IBNR of $6.2M in Q4 2025.

How has Lemonade's pet — IBNR changed year-over-year?

Lemonade's pet — IBNR increased by 67.6% year-over-year, from $3.7M to $6.2M.

What does pet — IBNR mean?

This represents the estimated liability for claims that have occurred but have not yet been reported to the company within the pet insurance segment. It is a critical actuarial reserve that ensures the company maintains sufficient capital to cover future claim obligations. A stable or predictable IBNR trend indicates effective risk modeling and reserve adequacy.

Lemonade LMND Pet — IBNR

Other product segments

Property Insurance

$64.6M+15.8%

Car

$40.5M+0.7%

Similar metrics at other companies

HIGProfessional liability — IBNR Reserves

$366M+8.6%

SIGICommercial property — IBNR

$53.81M-16.7%

AIGReserve for Incurred But Not Reported (IBNR) Claims

$334M-15.4%

CRBGReserve for Incurred But Not Reported (IBNR) Claims

$2.97B+2.9%

SIGIBusinessowners’ policies — IBNR

$37.75M+18.5%

SIGIPersonal automobile — IBNR

$63.52M+19.9%

Other financials

Income statement

See full

Revenue$258.0M+70.6%

Net income-$35.8M+42.6%

EPS (diluted)-$0.47+45.3%

Balance sheet

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Cash & equivalents$386.5M+20.9%

Total debt$20.8M-4.6%

Total equity$518.0M-5.0%

Total assets$2.0B+5.5%

Cash flow

See full

Operating cash flow-$600.0K+98.7%

CapEx$3.5M+52.2%

Free cash flow-$4.1M+91.7%

Valuation

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Market cap$4.52B+109%

Profitability

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Net margin-16.4%-6.0pp

FCF margin-15.4%-6.4pp

Returns & leverage

See full

Return on equity-26.1%-5.5pp

Debt / equity0×0.0×

Where this comes from

Reported directly by Lemonade in its filing.

Tagged under the XBRL concept us-gaap:ShortdurationInsuranceContractsIncurredButNotReportedIbnrClaimsLiabilityNet.

The official record: Lemonade’s 10-K, filed February 25, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Lemonade's pet — IBNR?: Lemonade (LMND) reported pet — IBNR of $6.2M in Q4 2025.
How has Lemonade's pet — IBNR changed year-over-year?: Lemonade's pet — IBNR increased by 67.6% year-over-year, from $3.7M to $6.2M.
What does pet — IBNR mean?: This represents the estimated liability for claims that have occurred but have not yet been reported to the company within the pet insurance segment. It is a critical actuarial reserve that ensures the company maintains sufficient capital to cover future claim obligations. A stable or predictable IBNR trend indicates effective risk modeling and reserve adequacy.