Documents filed with the federal securities agency reveal that ridesharing company Lyft has spent nearly a billion dollars to essentially insure itself against certain risks.
A prospectus recently filed by Lyft with the US Securities and Exchange Commission detailed that the company has established a subsidiary, through which the ridehailing firm has set aside so-called “restricted reinsurance trust investments” of $863.7 million.
You've reached your limit - Register for free now for unlimited access
To read the full story, and get unlimited access to Insurance Business website content, just register for free now. GET STARTED HERE
Already a website member? Log in below.