Business UpdateAug 10, 2026, 04:50 PM
Progressive Details 2026-2027 Catastrophe Reinsurance Program
AI Summary
The Progressive Corporation announced its quarterly common share dividend of $0.10 per share, payable October 9, 2026. Concurrently, the company released a comprehensive report detailing its 2026-2027 Catastrophe Reinsurance Program. This program, which renewed June 1, 2026, outlines excess of loss protection for property and business owners' property against catastrophe events, including specific coverage layers, retentions, and aggregate limits to manage risk and protect capital.
Key Highlights
- Quarterly common share dividend declared at $0.10 per share.
- 2026-2027 Property Catastrophe per Occurrence Reinsurance program renewed June 1, 2026.
- Property per Occurrence XOL program has a $300M retention (outside FL) and $75M (FL).
- Property per Occurrence XOL program coverage limits up to $2.19B (FL) and $1.85B (outside FL).
- Property Aggregate XOL Program provides $237.5M coverage in excess of $550M aggregate retention.
- Boat XOL program provides $150M coverage for named windstorms in excess of $225M per event retention.
- Gross Probable Maximum Loss (PML) for a 1 in 100-year event is $1,325M.
Price Impact
More from PGR