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Get filing alertsProgressive declares $0.10 quarterly dividend, discloses $2.19B Florida catastrophe coverage
Filed August 10, 2026 · Period ending August 7, 2026 · ~1 min read
Key Changes
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Progressive's property catastrophe reinsurance provides up to $2.19B coverage for a first Florida event (after $75M retention) and $1.85B for first events outside Florida (after $300M retention), protecting capital against severe weather.
Exhibit 99 view on EDGAR → -
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Board declared quarterly dividend of $0.10 per common share, payable October 9, 2026, to shareholders of record October 1, 2026.
Item 7.01 — Regulation FD Disclosure verify on EDGAR → -
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Aggregate reinsurance program provides $300M total coverage for accumulated catastrophe losses during 2026, attaching after aggregate retentions of $550M and $750M.
Exhibit 99 view on EDGAR → -
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Progressive models a 1-in-100-year catastrophic event at $1,325M in gross losses and a 1-in-250-year event at $1,798M, informing reinsurance purchasing strategy.
Exhibit 99 view on EDGAR → -
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New boat insurance reinsurance program added for 2026 provides $150M coverage for named windstorms after $225M retention.
Exhibit 99 view on EDGAR →
Summary
Progressive disclosed its 2026-2027 catastrophe reinsurance structure alongside a routine quarterly dividend declaration. The reinsurance program provides substantial protection against severe weather events, with up to $2.19 billion in coverage for a first Florida hurricane after a $75 million retention, and $1.85 billion for events outside Florida after a $300 million retention.
The lower Florida retention reflects the state's elevated hurricane risk. An additional aggregate program covers $300 million in cumulative losses from multiple smaller events throughout the year. The disclosure matters because catastrophe reinsurance is a critical capital management tool for property insurers.
Progressive's modeling estimates a 1-in-100-year event at $1.325 billion in gross losses, well within the per-occurrence coverage limits. The company also added a new $150 million reinsurance layer for its boat insurance product. The $0.10 quarterly dividend continues Progressive's regular capital return to shareholders, payable in October to shareholders of record October 1.
Section-by-Section Diff
Event · Item 7.01 — Regulation FD Disclosure
Progressive declared a $0.10 quarterly dividend and released a report on its catastrophe reinsurance program.
Added in current filing · verify on EDGAR →
On August 10, 2026, the Company released a report on its Catastrophe Reinsurance Program providing an overview of the Company’s reinsurance practices (the “Report”).
Progressive released a report detailing its catastrophe reinsurance program and reinsurance practices. The report is available on the company's investor relations website. This disclosure provides transparency into how Progressive manages catastrophic risk exposure through reinsurance arrangements.
Event · Exhibit 99
Added in current filing · view on EDGAR →
Progressive completed placement of its 2026-2027 Property Catastrophe per Occurrence Reinsurance program, which renewed June 1, 2026. Progressive also renewed its annual Property Catastrophe Aggregate Reinsurance program January 1, 2026.
Progressive renewed its property catastrophe reinsurance programs for the 2026-2027 period. The per-occurrence program renewed June 1, 2026, and the aggregate program renewed January 1, 2026. These programs protect against losses from hurricanes, severe storms, wildfires, and other catastrophic events affecting the company's property and business owners property insurance portfolios.
Added in current filing · view on EDGAR →
The Aggregate XOL Program provides multiple layers of coverage for Property and BOP catastrophe losses and ALAE on an annual basis. ... Provides $237.5 million of all perils aggregate coverage against ISO Property Claim Services (PCS) events in excess of an aggregate retention of $550 million. ... Provides $62.5 million of all perils aggregate coverage against PCS events in excess of an aggregate retention of $750 million.
Progressive's aggregate reinsurance program provides $300 million in total coverage ($237.5 million in Layers 1-2, plus $62.5 million in Layer 3) for accumulated catastrophe losses during 2026. This protects against the cumulative impact of multiple smaller events throughout the year, with coverage attaching after aggregate retentions of $550 million and $750 million respectively.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 11, 2026 · How we verify