SoftBank, XL Catlin, Allianz and Alphabet-backed casualty and property insurance provider Lemonade priced the initial public offering above its range.

Lemonade, the US-based online insurance provider backed by corporate investors Alphabet, SoftBank, Allianz and XL Catlin, is going public today in a $319m initial public offering.

The offering consists of 11 million shares priced at $29.00 each that will be issued on the New York Stock Exchange. The company initially set a range of $23 to $26 for the IPO before increasing that to $26 to $28 earlier this week.

One of Lemonade’s shareholders, investment manager Baillie Gifford, has…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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