Progressive posts $155mn in September cat losses

Progressive's third quarter catastrophe losses totalled
$431mn and September's $155mn total slightly exceeded some
analysts' estimates, while a $300mn property hit from Hurricane
Irma was reduced by reinsurance recoveries to the carrier's
$50mn retention.
However, the Mayfield Village, Ohio-based personal lines giant
said it recorded another $5mn in cat losses last month because of
"the reversal of a portion of our reinsurance recoverable on
our aggregate stop-loss agreement partially offset by