Progressive declares $0.10 quarterly dividend; details 2026-2027 property cat reinsurance program

PROGRESSIVE CORP/OH/

Board declared quarterly dividend of $0.10/share, payable Oct 9, 2026, record date Oct 1, 2026.
Property per-occurrence XOL program (6/1/26-5/31/27): $300M retention outside FL, $75M in FL; coverage $2.19B FL first event, $1.85B outside.
Includes Bonanza Re cat bonds (Layer 4 $200M, Layer 6.A $75M) and multi-year traditional layers; Layers 1-3 have reinstatement protection.
Aggregate XOL: $237.5M coverage over $550M retention and $62.5M over $750M, effective Jan-Dec 2026.
Catastrophe modeling: gross PML $928.5M (1-in-50yr), $1.325B (1-in-100yr), $1.798B (1-in-250yr), $2.786B (1-in-1000yr).

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