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Progressive PGR Prepaid reinsurance premiums

Prepaid reinsurance premiums at other companies

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Cincinnati FinancialCINF
$124M-4.6%
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$1.67B-1.1%
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$273.06M+8.1%
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Universal Insurance HoldingsUVE
$562.1M-12.0%
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$43.32M+4.4%
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HCI GroupHCI
$0—

Other financials

Income statement

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Revenue$22.2B+8.7%
Net income$3.3B+4.3%
EPS (diluted)$4.80+9.8%

Balance sheet

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Cash & equivalents$162.0M-16.9%
Total debt$8.4B+21.6%
Total equity$34.3B+5.3%
Total assets$124.93B+8.2%

Cash flow

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Operating cash flow$4.4B-15.1%
CapEx$63.0M+6.8%
Free cash flow$4.3B-15.3%

Valuation

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Market cap$125.19B-13.7%
P/E10.7×-3.2×

Profitability

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Net margin12.9%+1.8pp
FCF margin18.4%-1.7pp

Returns & leverage

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Return on equity34.9%-2.4pp
Debt / equity0.2×0.0×

Where this comes from

Reported directly by Progressive in its filing.

Tagged under the XBRL concept us-gaap:PrepaidReinsurancePremiums.

The source filing: Progressive’s 10-Q, filed May 4, 2026.

Filed
May 4, 2026, 9:59 AM EDT
Fiscal quarter
Q1 FY2026
Calendar quarter
Q1 2026
Accession
0000080661-26-000177
(millions)March 31, 2026March 31, 2025December 31, 2025
Accrued investment income685584670
Premiums receivable, net of allowance for credit losses of $528, $473, and $55217,61416,81115,362
Reinsurance recoverables4,0034,4494,083
Prepaid reinsurance premiums198306197
Deferred acquisition costs2,1312,0682,044
Property and equipment, net of accumulated depreciation of $1,416, $1,490, and $1,460792854783
Net federal deferred income taxes742860748
Other assets1,7341,6061,641

Item 1. Financial Statements.

FAQ

What is Progressive's prepaid reinsurance premiums?
Progressive (PGR) reported prepaid reinsurance premiums of $198M in Q1 2026.
How has Progressive's prepaid reinsurance premiums changed year-over-year?
Progressive's prepaid reinsurance premiums decreased by 35.3% year-over-year, from $306M to $198M.
What is the long-term trend for Progressive's prepaid reinsurance premiums?
Over 5 years (2020 to 2025), Progressive's prepaid reinsurance premiums has grown at a -11.8% compound annual growth rate (CAGR), from $368.1M to $197M.
What does prepaid reinsurance premiums mean?
This represents the unexpired portion of premiums paid to reinsurers for coverage that extends into future periods. It is an asset that reflects the company's investment in risk protection for upcoming policy terms. It is amortized over the life of the reinsurance contract.

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