Progressive recovers $23mn in Q3 after exceeding retention levels
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Progressive recovers $23mn in Q3 after exceeding retention levels

Progressive logo storm surge.jpg

Progressive recorded $23mn in Q3 recoveries after exceeding its retention level as part of its reinsurance program, a US Securities and Exchange Commission filing showed.

In 2023, the carrier entered new aggregate excess of loss reinsurance contracts, with the first retention layer providing coverage up to $100mn with a threshold between $500mn and $575mn, excluding named tropical storms and hurricanes.

The

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