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Progressive · 2025 report · 12 min

Hurricanes, wildfires and reinsurance

A fender-bender is bad luck for one driver. A hurricane is bad luck for thousands of Progressive's customers on the same day. Who pays, and who insures the insurer?

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Ticket 01 · The guess

How much of a home premium went to storms?

Progressive, the big car insurer, also insures homes. Say its home customers paid $100example (example number: Simplified example: a round amount of home insurance premiums, to show Progressive's average.) in premiums in 2024. How much of it do you think went to catastrophes: hurricanes, hail storms, tornadoes?

$10
$0$50
Words to know

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Sources and every number (1)

Sources

  • The Progressive Corporation 2025 Annual Report to Shareholders (Exhibit 13 to the Form 10-K) · The Progressive Corporation (filed with the U.S. SEC), 2025

Every number

  • $100example (example number: Simplified example: a round amount of home insurance premiums, to show Progressive's average.) · Simplified example: a round amount of home insurance premiums, to show Progressive's average.
  • $24.80sec.gov ·2025 · Applied to the example amount of home premiums: catastrophe losses on personal property were this share of its premiums earned in 2024 (MD&A catastrophe table).
  • 10.4%sec.gov ·2025 · Catastrophe losses on home insurance (personal property) as a share of that line's net premiums earned, 2025, without loss adjustment expenses (MD&A catastrophe table).
  • 3%sec.gov ·2025 · Catastrophe losses on cars and other vehicles as a share of that line's net premiums earned, 2024, without loss adjustment expenses (MD&A catastrophe table).
  1. Lessons›
  2. Big companies›
  3. Insurance
  • ·Before this: How Progressive is organized
  • ·Next: Who's a good risk?
  • ·Free guide: How insurance companies make money
Skip to the lesson
Back to the home page and map, from TryOwning · Progressive · Lesson 3
Part 1 of 3Part 1 of 3, 0 done

Progressive · 2025 report · 12 min

Hurricanes, wildfires and reinsurance

A fender-bender is bad luck for one driver. A hurricane is bad luck for thousands of Progressive's customers on the same day. Who pays, and who insures the insurer?

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Ticket 01 · The guess

How much of a home premium went to storms?

Progressive, the big car insurer, also insures homes. Say its home customers paid $100example (example number: Simplified example: a round amount of home insurance premiums, to show Progressive's average.) in premiums in 2024. How much of it do you think went to catastrophes: hurricanes, hail storms, tornadoes?

$10
$0$50
Words to know

Spot something wrong?

Tell us what looks off. No name or email needed.

What kind of problem?

0 / 1000

We'll also send this page, the lesson, ticket 1, so we can find it. Nothing else. Privacy

·
Sources and every number (1)

Sources

  • The Progressive Corporation 2025 Annual Report to Shareholders (Exhibit 13 to the Form 10-K) · The Progressive Corporation (filed with the U.S. SEC), 2025

Every number

  • $100example (example number: Simplified example: a round amount of home insurance premiums, to show Progressive's average.) · Simplified example: a round amount of home insurance premiums, to show Progressive's average.
  • $24.80sec.gov ·2025 · Applied to the example amount of home premiums: catastrophe losses on personal property were this share of its premiums earned in 2024 (MD&A catastrophe table).
  • 10.4%sec.gov ·2025 · Catastrophe losses on home insurance (personal property) as a share of that line's net premiums earned, 2025, without loss adjustment expenses (MD&A catastrophe table).
  • 3%sec.gov ·2025 · Catastrophe losses on cars and other vehicles as a share of that line's net premiums earned, 2024, without loss adjustment expenses (MD&A catastrophe table).
  1. Lessons›
  2. Big companies›
  3. Insurance
  • ·Before this: How Progressive is organized
  • ·Next: Who's a good risk?
  • ·Free guide: How insurance companies make money