Progressive books $138mn June reserve development following auto review
  • X
  • LinkedIn
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
© 2024 Insider International Limited, company number 15236286, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian Group. All rights reserved.

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement
Cookies Settings

Progressive books $138mn June reserve development following auto review

Farhin Lilywala
July 13, 2023
  • X
  • LinkedIn
  • Show more sharing options
  • Copy Link URLCopied!
  • Print
  • X
  • LinkedIn
Progressive logo glass screen.jpg

Progressive disclosed another $137.8mn, or 3.1-point, reserve charge in June, compared to 4.6 points in May, primarily attributed to increases from the carrier’s actuarial review of its personal auto product.

The company added that both the prior and current accident year increases were related to a higher ultimate severity on previously closed claims in its property damage coverages.

Commercial

Enter your e-mail to claim a free trial:

Uncover exclusive insights tailored for insurance leaders

    • Stay Informed: Access exclusive industry insights
    • Gain a competitive advantage: Hear first about tactical developments
    • Make better decisions: Understand market dynamics in crucial lines of business
Take a free trial Already a subscriber? Login now

Topics

NewsProgressiveResults
farhin lilywala 2024 ii us 2.png
Farhin Lilywala
Associate Editor
Contact
Gift this article