Discontinued — last reported Q4 '23
Property Segment — Benefits, claims, losses, and settlement expenses
Progressive Property Segment — Benefits, claims, losses, and settlement expenses remained flat by 0.0% to $444.08M in Q4 2023 compared to the prior quarter. Year-over-year, this metric declined by 6.1%, from $472.83M to $444.08M. Over 2 years (FY 2021 to FY 2023), Property Segment — Benefits, claims, losses, and settlement expenses shows relatively stable performance with a 0.3% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
How to read this metric
An increase relative to premiums suggests deteriorating underwriting performance or higher claim frequency/severity, while a decrease suggests improved underwriting efficiency.
Detailed definition
This metric captures the total costs incurred by the property segment related to policyholder claims, including both pai...
Peer comparison
Standardized as Incurred Losses and Loss Adjustment Expenses (LAE) across the insurance industry.
pgr_segment_property_segment_benefits_claims_losses_and_settlement_expensesHistorical Data
| FY'21 | FY'22 | FY'23 | |
|---|---|---|---|
| Value | $1.76B | $1.89B | $1.78B |
| YoY Change | — | +7.2% | -6.1% |
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Frequently Asked Questions
- What is Progressive's property segment — benefits, claims, losses, and settlement expenses?
- Progressive (PGR) reported property segment — benefits, claims, losses, and settlement expenses of $444.08M in Q4 2023.
- How has Progressive's property segment — benefits, claims, losses, and settlement expenses changed year-over-year?
- Progressive's property segment — benefits, claims, losses, and settlement expenses decreased by 6.1% year-over-year, from $472.83M to $444.08M.
- What is the long-term trend for Progressive's property segment — benefits, claims, losses, and settlement expenses?
- Over 2 years (2021 to 2023), Progressive's property segment — benefits, claims, losses, and settlement expenses has grown at a 0.3% compound annual growth rate (CAGR), from $1.76B to $1.78B.
- What does property segment — benefits, claims, losses, and settlement expenses mean?
- The total costs paid out or reserved for property insurance claims and related settlement expenses.