Loss ratio is used in the insurance industry, representing the ratio of losses (mainly paid insurance claims) to premiums earned. Gross loss ratio doesn't include operating expenses.

Lemonade is expected to report Q4 results including the loss ratio by the end of February (the exact date was not announced yet). The figure will be published in the Letter to Shareholders here: 

The gross loss ratio for the last four quarters (Q4 2022 to Q3 2023) was: 89%, 87%, 94%, and 83%.

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