secwatch.observer — SEC 8-K summary
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Issuer:     PROGRESSIVE CORP/OH/ (PGR)
CIK:        0000080661
Form:       8-K
Filed at:   2026-08-10T20:45:11+00:00
Accession:  0000080661-26-000310
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/80661/000008066126000310/0000080661-26-000310-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/80661/000008066126000310/pgr-20260807.htm
  HTML page:      https://secwatch.observer/filing/0000080661-26-000310

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