Reinsurance News

The Progressive Corporation

Progressive recovers $80mn from reinsurance in August

18th September 2020

Property and auto-focused insurance group Progressive recovered a total of $80 million from its reinsurance during August. $70 million was recovered after its 2020 cat losses and associated allocated loss adjustment expenses (ALAE) in its property business exceeded the $375 million annual retention threshold. An additional $10 million was recovered because the Property ... Read the full article

State Farm & Berkshire maintain status as top US P&C insurers

24th October 2019

State Farm and Berkshire Hathaway Specialty Insurance maintained their spots as the largest and second-largest U.S. Property and Casualty (P&C) writers in 2018, respectively, while Chubb INA Group entered the top ten. This is according to the Reinsurance News directory of the Top 100 U.S. P&C ... Read the full article

Progressive anticipating $120mn hit from Hurricane Michael

16th October 2018

Insurance group The Progressive Corporation has said that it currently expects to incur losses of approximately $120 million from Hurricane Michael, which hit Florida last week as a Category 4 hurricane. This estimate consists of $60 million in losses for Progressive’s vehicle business and $60 million for its property business, ... Read the full article

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