Lemonade expands car insurance to Florida, covering nearly half of U.S. market

Lemonade, Inc. has expanded its car insurance product into Florida, a move that brings its total coverage to states representing nearly 50% of the United States car insurance market. The rollout targets digitally oriented drivers in major metropolitan areas, including Miami, Tampa, Orlando, and Jacksonville. Customers in Florida can bundle car coverage with existing renters, homeowners, or pet policies.

In recent financial activity, Ma Investment Partnership LP acquired a new position in Lemonade, purchasing 100,000 shares valued at approximately $6,505,000 during the second quarter. Other institutional investors have also adjusted their holdings, including Goldman Sachs Group Inc., which increased its position by 7.3%, and Millennium Management LLC, which grew its holdings by 255.2% during the first quarter.