Insurtech Lemonade has welcomed the Prudential Regulation Authority’s decision to grant it a licence to operate in the UK. The approval builds on its move to enter the UK market in partnership with Aviva last year.

Sarvesh Ramachandran, country manager and head of UK branch at Lemonade, said: “We are thrilled to receive the PRA licence in the UK, a testament to our commitment to bring insurance into the 21st century, driven by AI and social impact. This empowers us to continue delivering exceptional value and a world-class experience to our customers in the UK.”

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