Operating
Change in loss reserves
Progressive Change in loss reserves increased by 26.7% to $1.21B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 21.0%, from $995.70M to $1.21B. Over 4 years (FY 2021 to FY 2025), Change in loss reserves shows a downward trend with a -2.7% CAGR.
Analysis
StatementCash Flow Statement
SectionOperating
CategoryRisk
SignalContext dependent
VolatilityModerate
First reportedQ1 2013
Last reportedQ3 2025
How to read this metric
An increase provides a cash flow benefit (float) and suggests growing business volume or conservative reserving, while a decrease may indicate high claim payouts.
Detailed definition
The net change in the estimated liability for unpaid claims and claim adjustment expenses within insurance operations. A...
Peer comparison
This is a critical metric for P&C insurers like Progressive or Allstate to measure the 'float' available for investment.
Metric ID:
cf_change_in_loss_reservesHistorical Data
19 periods
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.68B | $2.03B | $241.10M | $590.10M | $1.06B | $2.82B | $0.00 | $667.10M | $1.73B | $824.00M | $811.90M | $441.80M | $1.77B | $1.46B | $995.70M | $765.00M | $1.33B | $951.00M | $1.21B |
| QoQ Change | — | +20.7% | -88.1% | +144.8% | +79.3% | +166.6% | -100.0% | — | +158.9% | -52.3% | -1.5% | -45.6% | +301.6% | -17.9% | -31.6% | -23.2% | +74.1% | -28.6% | +26.7% |
| YoY Change | — | — | — | — | -37.2% | +38.9% | -100.0% | +13.0% | +63.3% | -70.8% | — | -33.8% | +2.7% | +76.7% | +22.6% | +73.2% | -24.9% | -34.7% | +21.0% |
Range$0.00 – $2.82B
CAGR-7.2%
Avg YoY Growth+0.7%
Median YoY Growth+7.9%
Change in loss reserves at Other Companies
Frequently Asked Questions
- What is Progressive's change in loss reserves?
- Progressive (PGR) reported change in loss reserves of $1.21B in Q4 2025.
- How has Progressive's change in loss reserves changed year-over-year?
- Progressive's change in loss reserves increased by 21.0% year-over-year, from $995.70M to $1.21B.
- What is the long-term trend for Progressive's change in loss reserves?
- Over 4 years (2021 to 2025), Progressive's change in loss reserves has grown at a -2.7% compound annual growth rate (CAGR), from $4.75B to $4.25B.
- What does change in loss reserves mean?
- The change in the amount of money an insurance company sets aside to pay for future customer claims.