Progressive recovers $40mn from reinsurers for winter storm losses
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Progressive recovers $40mn from reinsurers for winter storm losses


Progressive has recovered $40mn from its reinsurers for losses caused by winter storms in the US.

In its results for February, the carrier said it had been able to claim on its reinsurance program because incurred losses and loss adjustment expenses from a single storm exceeded the $80mn retention for its property excess-of-loss (XoL) treaty.


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