It comprises privately placed reinsurance, cat bond transactions and FHCF coverage, with a mixture of single-year and multi-year contracts. The FHCF contracts provide an estimated $112.6 million, representing 90% of $125.1 million, excess of a $71.7 million retention. Layer 1 provides $150 million, Layer 2 $250 million and Layer 3 $350 million. Alongside the June renewal, Progressive provided more information on its annual Property Catastrophe Aggregate Reinsurance program, which renewed January 1, 2026. This provides $237.5 million of aggregate coverage above a $550 million retention through its first two layers, followed by a further $62.5 million above a $750 million retention.