OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment and Tax [Abstract]

8,480

3,903

722

Change in total net unrealized gains (losses) on fixed-maturity securities

193

1,186

(2,843)

Comprehensive income (loss)

8,673

5,089

(2,121)

Computation of Earnings Per Common Share

Less: Preferred share dividends and other

8,480

3,903

722

^[1]

17

38

27

Net income available to common shareholders

$ 8,463

$ 3,865

$ 695

Average common shares outstanding – Basic

585.5

584.9

584.4

Net effect of dilutive stock-based compensation

2.2

2.6

2.7

Total average equivalent common shares – Diluted

587.7

587.5

587.1

Basic: Earnings per common share (usd per share)

$ 14.45

$ 6.61

$ 1.19

Diluted: Earnings per common share (usd per share)

$ 14.40

$ 6.58

$ 1.18

[1]	All of our outstanding Serial Preferred Shares, Series B, were redeemed in February 2024. See Note 1 – Reporting and Accounting Policies, Earnings Per Common Share and Note 14 – Dividends for further discussion.

Consolidated Balance Sheets - USD ($)
$ in Millions

Dec. 31, 2024

Dec. 31, 2023

Available-for-sale securities, at fair value:

Fixed maturities (amortized cost: $77,126 and $62,442)

$ 75,332.0

$ 60,378.0

Short-term investments (amortized cost: $615 and $1,790)

615.0

1,790.0

Total available-for-sale securities

75,947.0

62,168.0

Equity securities, at fair value:

Nonredeemable preferred stocks (cost: $756 and $977)

728.0

902.0

Common equities (cost: $745 and $706)

3,575.0

2,929.0

Total equity securities

4,303.0

3,831.0

Total investments

80,250.0

65,999.0

Cash and cash equivalents

143.0

85.0

Restricted cash and cash equivalents

11.0

15.0

Total cash, cash equivalents, restricted cash, and restricted cash equivalents

154.0

100.0

Accrued investment income

594.0

438.0

Premiums receivable, net of allowance for credit losses of $460 and $369

14,369.0

11,958.0

Reinsurance recoverables

4,765.0

5,094.0

Prepaid reinsurance premiums

349.0

250.0

Deferred acquisition costs

1,961.0

1,687.0

Property and equipment, net of accumulated depreciation of $1,461 and $1,655

790.0

881.0

Net federal deferred income taxes

954.0

936.0

Other assets

1,559.0

1,348.0

Total assets

105,745.0

88,691.0

Liabilities

Unearned premiums

23,858.0

20,134.0

Loss and loss adjustment expense reserves

39,057.0

34,389.0

Accounts payable, accrued expenses, and other liabilities

^[1]

10,346.0

7,002.0

Serial Preferred Shares, Series B, no par value (cumulative, liquidation preference of $1,000 per share) (authorized, issued, and outstanding 0 and 0.5)

^[2]

6,893.0

6,889.0

Total liabilities

80,154.0

68,414.0

Shareholders' Equity

0.0

494.0

Common shares, $1.00 par value (authorized 900; issued 798, including treasury shares of 212 and 213)

586.0

585.0

Paid-in capital

2,145.0

2,013.0

Retained earnings

24,283.0

18,801.0

Accumulated other comprehensive income (loss):

Net unrealized gains (losses) on fixed-maturity securities

(1,408.0)

(1,601.0)

Net unrealized losses on forecasted transactions

(14.0)

Foreign currency translation adjustment

(1.0)

Total accumulated other comprehensive income (loss)

(1,423.0)

(1,616.0)

Total shareholders’ equity

25,591.0

20,277.0

Total liabilities and shareholders’ equity

$ 105,745.0

$ 88,691.0

[1]	See Note 1 – Reporting and Accounting Policies, Commitments and Contingencies and Litigation Reserves, Note 12 – Litigation, and Note 14 – Dividends for further discussion.
[2]	Consists solely of long-term debt. See Note 4 – Debt for further discussion.

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Fixed maturities, amortized cost	$ 77,126	$ 62,442
Short-term investments, amortized cost	615	1,790
Nonredeemable preferred stocks, cost	756	977
Equity Securities Common Equities Cost	745	706
Premium receivable, allowance for credit loss	460	369
Property and equipment, accumulated depreciation	$ 1,461	$ 1,655
Common Shares, par value (USD per share)	$ 1.00	$ 1.00
Common Shares, authorized (shares)	900,000,000	900,000,000
Common Shares, issued (shares)	798,000,000	798,000,000
Treasury Stock, Common, Shares	212,000,000	213,000,000
Serial Preferred Stock
Preferred shares, authorized (in shares)	20,000,000	20,000,000
Series B Preferred Stock \| Serial Preferred Stock
Preferred stock, par value		$ 0
Preferred Stock, Liquidation Preference Per Share		$ 1,000
Preferred shares, authorized (in shares)	0	500,000
Preferred shares, issued (in shares)	0	500,000
Preferred Stock, Shares Outstanding (in shares)	0	500,000

Consolidated Statements of Changes in Shareholders' Equity - USD ($)
$ in Millions

Total

Preferred Shares, No Par Value

Common Shares, $1.00 Par Value

Paid-In Capital

Retained Earnings

Accumulated Other Comprehensive Income (Loss)

Balance, beginning of year at Dec. 31, 2021

$ 494

$ 584

$ 1,773

$ 15,340

$ 41

Redemption of Serial Preferred Shares, Series B

^[1]

0

Treasury shares purchased

(1)

(2)

(96)

Net restricted equity awards issued/vested

2

(2)

Reinvested dividends on restricted stock units

123

1

(1)

Cash dividends declared on common shares

$ 722

722

^[1]

(234)

Cash dividends declared on Serial Preferred shares, Series B

^[1]

(27)

17

Balance, end of year at Dec. 31, 2022

(2,843)

15,891

494

585

1,893

15,721

(2,802)

Redemption of Serial Preferred Shares, Series B

^[1]

0

Treasury shares purchased

(1)

(3)

(137)

Net restricted equity awards issued/vested

1

(1)

Reinvested dividends on restricted stock units

121

3

(3)

Cash dividends declared on common shares

3,903

^[1]

(673)

Cash dividends declared on Serial Preferred shares, Series B

^[1]

(30)

20

Balance, end of year at Dec. 31, 2023

1,186

20,277

494

585

2,013

18,801

(1,616)

Redemption of Serial Preferred Shares, Series B

^[1]

(494)

Treasury shares purchased

(1)

(2)

(131)

Net restricted equity awards issued/vested

2

(2)

Reinvested dividends on restricted stock units

122

14

(14)

Cash dividends declared on common shares

8,480

^[1]

(2,869)

Cash dividends declared on Serial Preferred shares, Series B

^[1]

(8)

24

Balance, end of year at Dec. 31, 2024

193

$ 25,591

$ 0

$ 586

$ 2,145

$ 24,283

$ (1,423)

[1]	See Note 14 – Dividends for further discussion.

Consolidated Statements of Cash Flows - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Cash Flows From Operating Activities

Adjustments to reconcile net income to net cash provided by operating activities:

$ 8,480

$ 3,903

$ 722

Depreciation

284

285

306

Net amortization (accretion) of fixed-income securities

(30)

41

(25)

Net realized (gains) losses on securities

122

121

123

(264)

(353)

1,912

Net (gains) losses on disposition of property and equipment

13

36

(1)

Goodwill impairment

0

225

Changes in:

Premiums receivable

(2,411)

(1,541)

(1,017)

Reinsurance recoverables

329

738

(852)

Prepaid reinsurance premiums

(99)

46

162

Deferred acquisition costs

(274)

(143)

(189)

Income taxes

(358)

181

(515)

Unearned premiums

3,724

2,840

1,678

Loss and loss adjustment expense reserves

4,668

4,030

4,195

Accounts payable, accrued expenses, and other liabilities

1,236

700

199

Net cash provided by operating activities

(301)

(241)

(74)

15,119

10,643

6,849

Purchases:

Fixed maturities

(47,778)

(25,777)

(26,510)

Equity securities

(168)

(86)

(158)

Sales:

Fixed maturities

25,634

8,235

14,055

Equity securities

267

791

1,496

Maturities, paydowns, calls, and other:

Fixed maturities

7,006

4,990

5,380

Equity securities

110

65

84

Net (purchases) sales of short-term investments

1,217

1,156

(1,868)

Net change in unsettled security transactions

171

(11)

(178)

Purchases of property and equipment

(285)

(252)

(292)

Sales of property and equipment

77

47

35

Net cash used in investing activities

(13,749)

(10,842)

(7,956)

Cash Flows From Financing Activities

Redemption of preferred shares1

^[1]

(500)

0

Dividends paid to common shareholders

^[1]

(674)

(234)

Dividends paid to preferred shareholders

^[1]

(8)

(43)

(27)

Acquisition of treasury shares for restricted stock tax liabilities

(121)

(95)

(77)

Acquisition of treasury shares acquired in open market

(13)

(46)

(22)

Net proceeds from debt issuance

0

496

1,486

Net cash provided by (used in) financing activities

(1,316)

78

1,126

Increase (decrease) in cash, cash equivalents, restricted cash, and restricted cash equivalents

54

(121)

19

Cash, cash equivalents, restricted cash, and restricted cash equivalents - beginning of year

100

221

202

Cash, cash equivalents, restricted cash, and restricted cash equivalents - end of year

$ 154

$ 100

$ 221

[1]	See Note 14 – Dividends for further discussion.

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Common Shares, par value (USD per share)	$ 1.00	$ 1.00	$ 1.00
Common shares, dividends declared (USD per share)	4.90	1.15	0.40
Preferred shares, dividends declared (USD per share)	$ 15.688377	$ 60.354787	$ 53.75
Voting Preferred Stock
Preferred shares, authorized (in shares)	5,000,000	5,000,000	5,000,000
Preferred shares, issued (in shares)	0	0	0
Serial Preferred Stock
Preferred shares, authorized (in shares)	20,000,000	20,000,000	20,000,000
Serial Preferred Stock \| Series B Preferred Stock
Preferred stock, par value		$ 0	$ 0
Preferred shares, authorized (in shares)	0	500,000
Preferred shares, issued (in shares)	0	500,000

SCHEDULE I - Summary Of Investments - Other Than Investments in Related Parties

12 Months Ended

Dec. 31, 2024

SCHEDULE I - Summary Of Investments - Other Than Investments In Related Parties

SCHEDULE I — SUMMARY OF INVESTMENTS — OTHER THAN INVESTMENTS IN RELATED PARTIES

THE PROGRESSIVE CORPORATION AND SUBSIDIARIES

(millions)


	December 31, 2024
Type of Investment	Cost		Fair Value		Amount At Which Shown In The Balance Sheet
Fixed maturities:
Bonds:
United States Government and government agencies and authorities	$	47,103	$	45,988	$	45,988
States, municipalities, and political subdivisions	2,893		2,778		2,778
Foreign government obligations	16		16		16
Public utilities	1,432		1,412		1,412
Corporate and other debt securities	12,679		12,542		12,542
Asset-backed securities	13,003		12,596		12,596

Total fixed maturities	77,126		75,332		75,332
Equity securities:
Common stocks:
Public utilities	38		121		121
Banks, trusts, and insurance companies	143		579		579
Industrial, miscellaneous, and all other	564		2,875		2,875
Nonredeemable preferred stocks	756		728		728
Total equity securities	1,501		4,303		4,303
Short-term investments	615		615		615
Total investments	$	79,242	$	80,250	$	80,250

Progressive did not have any securities of any one issuer, excluding U.S. government obligations, with an aggregate cost or fair value exceeding 10% of total shareholders’ equity at December 31, 2024.

SCHEDULE II - Condensed Financial Information Of Registrant

12 Months Ended

Dec. 31, 2024

SCHEDULE II - Condensed Financial Information Of Registrant

SCHEDULE II — CONDENSED FINANCIAL INFORMATION OF REGISTRANT

CONDENSED STATEMENTS OF COMPREHENSIVE INCOME

THE PROGRESSIVE CORPORATION (PARENT COMPANY)

(millions)


	Years Ended December 31,
	2024		2023		2022
Revenues
Dividends from subsidiaries	$	3,667	$	399	$	541
Undistributed income from subsidiaries	4,947		3,572		325
Equity in net income of subsidiaries	8,614		3,971		866
Intercompany investment income	149		205		92
Total revenues	8,763		4,176		958
Expenses
Interest expense	280		270		246
Deferred compensation1	54		20		25
Other operating costs and expenses	8		8		7
Total expenses	342		298		278
Income before income taxes	8,421		3,878		680
Benefit for income taxes	59		25		42
Net income	8,480		3,903		722
Other comprehensive income (loss)	193		1,186		(2,843)
Comprehensive income (loss)	$	8,673	$	5,089	$	(2,121)

1 See Note 4 – Employee Benefit Plans in these condensed financial statements.

See notes to condensed financial statements.

CONDENSED BALANCE SHEETS

THE PROGRESSIVE CORPORATION (PARENT COMPANY)

(millions - except per share amounts)


	December 31,
	2024		2023
Assets
Investment in affiliate	$	5	$	5
Investment in subsidiaries	28,850		23,410
Receivable from investment subsidiary	5,812		3,791
Intercompany receivable	641		887
Net federal deferred income taxes	82		66
Other assets	176		165
Total assets	$	35,566	$	28,324
Liabilities and Shareholders’ Equity
Dividends payable on common shares	$	2,695	$	498
Accounts payable, accrued expenses, and other liabilities	387		660
Debt1	6,893		6,889
Total liabilities	9,975		8,047
Serial Preferred Shares, Series B, no par value (cumulative, liquidation preference of $1,000 per share) (authorized, issued, and outstanding 0 and 0.5)	0		494
Common shares, $1.00 par value (authorized 900; issued 798, including treasury shares of 212 and 213)	586		585
Paid-in capital	2,145		2,013
Retained earnings	24,283		18,801
Total accumulated other comprehensive income (loss)	(1,423)		(1,616)
Total shareholders’ equity	25,591		20,277
Total liabilities and shareholders’ equity	$	35,566	$	28,324

1 Consists solely of long-term debt. See Note 4 – Debt in the Annual Report for further discussion.

See notes to condensed financial statements.

CONDENSED STATEMENTS OF CASH FLOWS

THE PROGRESSIVE CORPORATION (PARENT COMPANY)

(millions)


	Years Ended December 31,
	2024		2023		2022
Cash Flows From Operating Activities:
Net income	$	8,480	$	3,903	$	722
Adjustments to reconcile net income to net cash provided by operating activities:
Undistributed income from subsidiaries	(4,947)		(3,572)		(325)
Amortization of equity-based compensation	4		3		3
Changes in:
Intercompany receivable	246		(421)		(79)
Accounts payable, accrued expenses, and other liabilities	26		12		(22)
Income taxes	(318)		301		29
Other, net	28		10		60
Net cash provided by operating activities	3,519		236		388
Cash Flows From Investing Activities:
Additional investments in equity securities of consolidated subsidiaries	(182)		(621)		(798)
Received from (paid to) investment subsidiary	(2,021)		307		(716)
Net cash used in investing activities	(2,203)		(314)		(1,514)
Cash Flows From Financing Activities:
Redemption of preferred shares	(500)		0		0
Dividends paid to common shareholders	(674)		(234)		(234)
Dividends paid to preferred shareholders	(8)		(43)		(27)
Acquisition of treasury shares for restricted stock tax liabilities	(121)		(95)		(77)
Acquisition of treasury shares acquired in open market	(13)		(46)		(22)
Net proceeds from debt issuance	0		496		1,486
Net cash provided by (used in) financing activities	(1,316)		78		1,126
Change in cash	0		0		0
Cash - beginning of year	0		0		0
Cash - end of year	$	0	$	0	$	0

See notes to condensed financial statements.

NOTES TO CONDENSED FINANCIAL STATEMENTS

The accompanying condensed financial statements of The Progressive Corporation (parent company) should be read in conjunction with the consolidated financial statements and notes thereto in the Annual Report, which is included as Exhibit 13 to this Form 10-K.

Note 1. Statements of Cash Flows — For the purpose of the condensed statements of cash flows, cash includes only bank demand deposits. The Progressive Corporation does not hold any cash but has unrestricted access to funds maintained in a non-insurance investment subsidiary to meet its holding company obligations. At December 31, 2024, 2023, and 2022, $6.2 billion, $4.2 billion, and $4.4 billion, respectively, of marketable securities were available in this subsidiary; a portion of these securities were used to pay the $2.7 billion common share dividends accrued at December 31, 2024.

For the years ended December 31, non-cash activity included the following:


(millions)	2024		2023		2022
Common share dividends1	$	2,695	$	498	$	58
Preferred share dividends and redemption1	3		0		13

1 Includes declared but unpaid dividends and unpaid excise taxes on redemption. See Note 14 – Dividends in the Annual Report for further discussion.

For the years ended December 31, The Progressive Corporation paid the following:


(millions)	2024		2023		2022
Income taxes1	$	2,540	$	800	$	705
Interest	276		265		229

1 The increase in income taxes paid in 2024 was primarily driven by higher profitability, compared to the prior years.

Note 2. Income Taxes — The Progressive Corporation files a consolidated federal income tax return with its eligible subsidiaries and acts as an agent for the consolidated tax group when making payments to the Internal Revenue Service. The Progressive Corporation consolidated group’s net income taxes currently payable/recoverable are included in accounts payable, accrued expenses, and other liabilities or other assets, respectively, in the accompanying condensed balance sheets based on the balance at the end of the year. The Progressive Corporation and its eligible subsidiaries have adopted, pursuant to a written agreement, a method of allocating consolidated federal income taxes. Amounts allocated to the eligible subsidiaries under the written agreement are included in intercompany receivable in the accompanying condensed balance sheets.

Note 3. Debt — The information relating to debt is incorporated by reference from Note 4 – Debt in the Annual Report.

Note 4. Employee Benefit Plans — The information relating to incentive compensation and deferred compensation plans is incorporated by reference from Note 9 – Employee Benefit Plans in the Annual Report.

Note 5. Other Comprehensive Income (Loss) — On the condensed statements of comprehensive income, other comprehensive income (loss) represents activity of the subsidiaries of The Progressive Corporation and includes net unrealized gains (losses) on fixed-maturity securities.

Note 6. Dividends — The information relating to our dividend policy is incorporated by reference from Note 14 – Dividends in the Annual Report. Accrued dividends are recorded as dividends payable on common shares on our condensed balance sheets; the prior year common share dividend accrual was reclassified into this line item from accounts payable, accrued expenses, and other liabilities to conform to the current year presentation.

SCHEDULE III - Supplementary Insurance Information

12 Months Ended

Dec. 31, 2024

SCHEDULE III - Supplementary Insurance Information

SCHEDULE III — SUPPLEMENTARY INSURANCE INFORMATION

THE PROGRESSIVE CORPORATION AND SUBSIDIARIES

(millions)


Segment	Deferred policy acquisition costs1		Future policy benefits, losses, claims, and loss expenses1		Unearned premiums1		Other policy claims and benefits payable1		Premium revenue		Net investment income1,2		Benefits, claims, losses, and settlement expenses		Amortization of deferred policy acquisition costs		Other operating expenses1		Net premiums written
Year ended December 31, 2024:
Personal Lines3									$	60,091			$	41,443	$	4,360	$	8,341	$	63,470
Commercial Lines									10,707				7,610		1,023		1,109		10,953
Other indemnity									1				7		0		12		1
Total	$	1,961	$	39,057	$	23,858	$	0	$	70,799	$	2,803	$	49,060	$	5,383	$	9,462	$	74,424
Year ended December 31, 2023:
Personal Lines3									$	48,765			$	37,749	$	3,660	$	5,211	$	51,412
Commercial Lines									9,899				7,900		1,005		1,020		10,138
Other indemnity									1				6		0		11		0
Total	$	1,687	$	34,389	$	20,134	$	0	$	58,665	$	1,866	$	45,655	$	4,665	$	6,242	$	61,550
Year ended December 31, 2022:
Personal Lines3									$	40,150			$	31,572	$	3,003	$	4,904	$	41,680
Commercial Lines									9,088				6,545		913		948		9,399
Other indemnity									3				6		1		7		2
Total	$	1,544	$	30,359	$	17,294	$	0	$	49,241	$	1,236	$	38,123	$	3,917	$	5,859	$	51,081

1 Progressive does not allocate assets, liabilities, or investment income to operating segments. Expense allocations are based on certain assumptions and estimates primarily related to revenue and volume; stated segment operating results would change if different methods were applied.

2 Excludes total net realized gains (losses) on securities.

3 Beginning in the fourth quarter 2024, our Personal Lines segment includes insurance for personal autos, special lines products (e.g., recreational vehicles, such as motorcycles, RVs, and watercraft), and personal property insurance, which includes insurance for homeowners and renters, umbrella insurance, and flood products. Personal Lines information for 2023 and 2022 was recast to include our personal property insurance products; these products were reported separately in prior years.

SCHEDULE IV - Reinsurance

12 Months Ended

Dec. 31, 2024

SCHEDULE IV - Reinsurance

SCHEDULE IV — REINSURANCE

THE PROGRESSIVE CORPORATION AND SUBSIDIARIES

(millions)


Year Ended:	Gross Amount		Ceded to Other Companies		Assumed From Other Companies		Net Amount		Percentage of Amount Assumed to Net
December 31, 2024
Premiums earned:
Property and liability insurance	$	72,169	$	1,370	$	0	$	70,799	0	%
December 31, 2023
Premiums earned:
Property and liability insurance	$	59,881	$	1,216	$	0	$	58,665	0	%
December 31, 2022
Premiums earned:
Property and liability insurance	$	50,650	$	1,409	$	0	$	49,241	0	%

Reporting and Accounting Policies

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Reporting and Accounting Policies

REPORTING AND ACCOUNTING POLICIES

Nature of Operations The Progressive insurance organization began business in 1937. The financial results of The Progressive Corporation include its subsidiaries and affiliates (references to “subsidiaries” in these notes include affiliates as well). Our insurance subsidiaries write personal and commercial auto insurance, personal residential property insurance, business-related general liability and commercial property insurance predominantly for small businesses, workers’ compensation insurance primarily for the transportation industry, and other specialty property-casualty insurance and provide related services.

We report two operating segments. Our Personal Lines segment writes insurance for personal autos and special lines products (i.e., recreational vehicles), collectively referred to as our personal vehicle business, and, beginning in the fourth quarter 2024, personal residential property insurance for homeowners and renters. Our Commercial Lines segment writes auto-related liability and physical damage insurance, business-related general liability and commercial property insurance predominately for small businesses, and workers’ compensation insurance primarily for the transportation industry. We operate our businesses throughout the United States, through both the independent agency and direct channels.

Basis of Consolidation and Reporting The accompanying consolidated financial statements include the accounts of The Progressive Corporation and our wholly owned insurance and non-insurance subsidiaries in which we have a controlling financial interest. All intercompany accounts and transactions are eliminated in consolidation. All revenues are generated from external customers and we do not have a reliance on any major customer.

Estimates We are required to make estimates and assumptions when preparing our financial statements and accompanying notes in conformity with accounting principles generally accepted in the United States of America (GAAP). As estimates develop into fact, results may, and will likely, differ from those estimates.

Investments Our fixed-maturity securities and short-term investments are accounted for on an available-for-sale basis. Fixed-maturity securities are debt securities, which may have fixed or variable principal payment schedules, may be held for indefinite periods of time, and may be used as a part of our asset/liability strategy or sold in response to changes in interest rates, anticipated prepayments, risk/reward characteristics, liquidity needs, or other economic factors. These securities are carried at fair value with the corresponding unrealized gains (losses),

net of deferred income taxes, reported in accumulated other comprehensive income.

Short-term investments may include commercial paper, repurchase transactions, and other securities expected to mature within one year. From time to time, we may also invest in municipal bonds that have maturity dates that are longer than one year but have either liquidity facilities or mandatory put features within one year.

Equity securities include common stocks, nonredeemable preferred stocks, and other risk investments. Common stocks and nonredeemable preferred stocks are carried at fair value, with the changes in fair value reported in net holding period gains (losses) on securities on the consolidated statements of comprehensive income. Our other risk investments are accounted for under the equity method of accounting. These securities are carried at cost and adjusted for our share of the investee’s earnings or losses, with the changes in carrying value reported in investment income.

We did not have any open derivative instruments at December 31, 2024, 2023, or 2022. From time to time, we entered into interest rate swaps to hedge the exposure to variable cash flows of a forecasted transaction (i.e., cash flow hedge).

Derivatives designated as hedges are required to be evaluated on established criteria to determine the effectiveness of their correlation to, and ability to reduce the designated risk of, specific securities or transactions. Effectiveness is required to be reassessed regularly. For cash flow hedges that are deemed to be effective, the changes in fair value of the hedge would be reported as a component of accumulated other comprehensive income and subsequently amortized into earnings over the life of the hedged transaction. If a hedge is deemed to become ineffective or discontinued, changes in fair value of the derivative instrument would be reported in income for the current period. See Note 4 – Debt for a summary of our closed debt issuance cash flow hedges.

Investment securities are exposed to various risks such as interest rate, market, credit, and liquidity risk. Fair values of securities fluctuate based on the nature and magnitude of changing market conditions; significant changes in market conditions could materially affect the portfolio’s value in the near term. We routinely monitor our fixed-maturity portfolio for pricing changes that might indicate potential credit losses exist and perform detailed reviews of securities with unrealized losses. For an unrealized loss that we determined to be related to current market conditions, we will not record an allowance for credit

losses or write off the unrealized loss for the securities we do not intend to sell. We will continue to monitor these securities to determine if the unrealized loss is due to credit deterioration. If we believe that a potential credit loss exists, we record an allowance for the credit loss and recognize the realized loss as a component of realized gains (losses) in the income statement. Once a credit loss allowance has been established, we continue to evaluate the security, at least quarterly, to determine if changes in conditions have created the need to either increase or decrease the allowance recorded. If we determine that a security with a credit loss allowance previously recorded is likely to be sold prior to the potential recovery of the credit loss, or if we determine that the loss is uncollectible, we reverse the allowance and write down the security to its fair value.

Investment income consists of interest, dividends, accretion, and amortization. Interest is recognized on an accrual basis using the effective yield method, except for asset-backed securities as discussed below. Depending on the nature of the equity instruments, dividends are recorded at either the ex-dividend date or on an accrual basis.

Interest income for asset-backed securities is based on estimated cash flows, including expected changes in interest rates and estimated prepayments of principal. Prepayment assumptions are reviewed and updated quarterly, and effective yields are recalculated when differences arise between the prepayments originally estimated, and the actual prepayments received and currently estimated. For asset-backed securities of high credit quality, the effective yield is recalculated on a retrospective basis to the inception of the investment holding period, and applies the required adjustment, if any, to the cost basis, with the offset recorded to investment income. For those securities below high credit quality, interest-only securities, and certain asset-backed securities where there is a greater risk of non-performance, the effective yield is recalculated on a prospective basis for future period adjustments, resulting in no current period impact.

Realized gains (losses) on securities are computed based on the first-in first-out method. Realized gains (losses) also include holding period valuation changes on equity securities and hybrid instruments (e.g., securities with embedded options, where the option is a feature of the overall change in the value of the instrument), as well as initial and subsequent changes in credit allowance losses and write-offs for losses deemed uncollectible or securities in a loss position that are expected to be sold prior to the recovery of the credit loss.

Insurance Premiums and Receivables Insurance premiums written are earned into income on a pro rata basis over the period of risk, based on a daily earnings convention. Accordingly, unearned premiums represent the portion of premiums written with unexpired risk. We write insurance and provide related services to individuals and commercial accounts and offer a variety of payment plans. Generally, premiums are collected prior to providing risk coverage, minimizing our exposure to credit risk.

For our Personal Lines vehicles and Commercial Lines businesses, we perform a policy-level evaluation to determine the extent to which the premiums receivable balance exceeds the unearned premiums balance. To determine an allowance for credit losses, we evaluate the collectibility of premiums receivables based on historical and current collections experience of the aged exposures, using actuarial analysis. Our estimate of the future recoverability of our projected ultimate at-risk exposures also takes into consideration any unusual circumstances that we may encounter, such as moratoriums or other programs that may suspend collections.

For our Personal Lines property business, the risk of uncollectibility is relatively low. If premiums are unpaid by the policy due date, we provide advance notice of cancellation in accordance with each state’s requirements and, if the premiums remain unpaid after the indicated cancellation date, we cancel the policy and write off any remaining balance.

The following table summarizes changes in our allowance for credit loss exposure on our premiums receivable:


(millions)	2024		2023
Balance at January 1	$	369	$	343
Increase in allowance1	590		540
Write-offs2	(499)		(514)
Balance at December 31	$	460	$	369

1 Represents the incremental increase in other underwriting expenses.

2 Represents the portion of allowance that is reversed when premiums receivables are written off. Premiums receivable balances are written off once we have exhausted our collection efforts.

Deferred Acquisition Costs Deferred acquisition costs include commissions, premium taxes, and other variable underwriting and direct sales costs incurred in connection with the successful acquisition or renewal of insurance contracts. These acquisition costs, net of ceding allowances, are deferred and amortized over the policy period in which the related premiums are earned. We consider anticipated investment income in determining recoverability of these costs. Management believes these costs will be fully recoverable in the near term.

We do not defer any advertising costs. Total advertising costs, which are expensed as incurred, for the years ended December 31, were:


(millions)	Advertising Costs
2024	$	4,003
2023	1,600
2022	2,033

Loss and Loss Adjustment Expense Reserves Loss reserves represent the estimated liability on claims reported to us, plus reserves for losses incurred but not recorded. These estimates are reported net of amounts estimated to be recoverable from salvage and subrogation. Loss adjustment expense reserves represent the estimated expenses required to settle these claims. The methods of making estimates and establishing these reserves are reviewed regularly and resulting adjustments are reflected in income in the current period. Such loss and loss adjustment expense reserves are susceptible to change.

Reinsurance Our reinsurance activity includes transactions which are categorized as Regulated and Non-Regulated. Regulated refers to plans in which we participate that are governed by insurance regulations and include state-provided reinsurance facilities (e.g., Michigan Catastrophic Claims Association, North Carolina Reinsurance Facility, Florida Hurricane Catastrophe Fund), as well as state-mandated involuntary plans for commercial vehicles (Commercial Automobile Insurance Procedures/Plans – CAIP) and federally regulated plans for flood (National Flood Insurance Program – NFIP); we act as a participant in the “Write Your Own” program for the NFIP.

Non-Regulated includes voluntary contractual arrangements primarily related to our Personal Lines property business and to the transportation network company (TNC) business written by our Commercial Lines

segment. Prepaid reinsurance premiums are earned on a pro rata basis over the period of risk, based on a daily earnings convention, which is consistent with premiums earned. See Note 7 – Reinsurance for further discussion.

We routinely monitor changes in the credit quality and concentration risks of the reinsurers who are counterparties to our reinsurance recoverables to determine if an allowance for credit losses should be established.

Income Taxes The income tax provision is calculated under the balance sheet approach. Deferred tax assets and liabilities are recorded based on the temporary difference between the financial statement and tax bases of assets and liabilities at the enacted tax rates. The principal items giving rise to such differences include:

•unearned premiums reserves;

•investment securities (e.g., net unrealized gains (losses) and net holding period gains (losses) on securities);

•deferred acquisition costs;

•loss and loss adjustment expense reserves;

•non-deductible accruals;

•software development costs; and

•property and equipment.

We review our deferred tax assets regularly for recoverability. See Note 5 – Income Taxes for further discussion.

Property and Equipment Property and equipment are recorded at cost, less accumulated depreciation. Depreciation is recognized over the estimated useful lives of the assets using accelerated methods for computer equipment and the straight-line method for all other fixed assets. We evaluate impairment whenever events or circumstances warrant such a review and write off the impaired assets if appropriate.

The cost and useful lives for property and equipment at December 31, were:


($ in millions)	2024		2023		Useful Lives
Land	$	52	$	103	NA
Buildings, improvements, and integrated components	576		733		7-40 years
Capitalized software	469		468		3-10 years
Software licenses (internal use)	396		486		1-6 years
Computer equipment	370		353		3 years
All other property and equipment	388		393		4-10 years
Total cost	2,251		2,536
Accumulated depreciation	(1,461)		(1,655)
Balance at end of year	$	790	$	881
NA = Not applicable; land is not a depreciable asset.

At December 31, 2024 and 2023, we had held for sale properties of $129 million and $77 million, respectively, and capitalized cloud computing arrangement implementation costs, net of amortization, of $121 million and $88 million, which are included in other assets in our consolidated balance sheets. When a property is determined to be held for sale, it is written down to its fair value less estimated costs to sell, as applicable. The increase in held for sale properties since December 31, 2023, primarily

reflects a decision to sell certain properties to optimize our real estate portfolio by consolidating employees into other existing properties.

Goodwill and Intangible Assets Goodwill is the excess of the purchase price over the estimated fair value of the assets and liabilities acquired and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. At December 31, 2024 and 2023, we had goodwill of $228 million included in other assets in our consolidated balance sheets, which is primarily attributable to our Personal Lines auto business written through the independent agency channel and related to the April 1, 2015, acquisition of a controlling interest in ARX Holding Corp. There were no changes to the carrying amount of goodwill during the year ended December 31, 2024.

We evaluate our goodwill for impairment at least annually using a qualitative approach. If events or changes in circumstances indicate that the carrying value of goodwill may not be recoverable, we will evaluate it for impairment using a quantitative approach.

In 2022, we recorded an impairment loss of $225 million, related to the goodwill assigned to the reporting units of our Personal Lines property business. There were no previously recorded goodwill impairment losses on any of the outstanding goodwill.

Intangible assets are non-financial assets lacking physical substance (e.g., customer and agency relationships, trade names, software rights) and represent the future economic benefit of those acquired assets.

Goodwill and intangible assets are included in other assets in our consolidated balance sheets. The amortization of intangible assets is included in the other, net line item, and is a component of net cash provided by operating activities, in our consolidated statements of cash flows. The December 31, 2023 and 2022 amounts, which were presented separately in the prior year, were reclassified to conform to the current year presentation.

Guaranty Fund Assessments We are subject to state guaranty fund assessments, which provide for the payment of covered claims or other insurance obligations of insurance companies deemed insolvent. These assessments are accrued after a determination of insolvency has occurred, and we have written the premiums on which the assessments will be based. Assessments are expensed when incurred except for assessments that are available for recoupment from policyholders or are eligible to offset premiums taxes payable, which are capitalized to the extent allowable.

Fees and Other Revenues Fees and other revenues are considered as part of our underwriting operations and primarily represent fees collected from policyholders relating to installment charges in accordance with our bill plans, as well as late payment and insufficient funds fees, and revenue from ceding commissions. Fees and other revenues are generally earned when invoiced, except for excess ceding commissions, which are earned over the policy period.

Service Revenues and Expenses Our service businesses primarily provide insurance-related services. Service revenues and expenses from our commission-based businesses are recorded in the period in which they are earned or incurred.

Equity-Based Compensation We issue time-based and performance-based restricted stock unit awards to key members of management as our form of equity compensation and time-based restricted stock awards to non-employee directors. Collectively, we refer to these awards as restricted equity awards. Generally, restricted equity awards are expensed pro rata over their respective vesting periods (i.e., requisite service period), based on the market value of the awards at the time of grant, with accelerated expense for participants who satisfy qualified retirement eligibility. We record an estimate for expected forfeitures of restricted equity awards based on our historical forfeiture rates.

We credit dividend equivalent units to the unvested management restricted equity awards. Dividend equivalent units for these unvested time-based and performance-based awards are based on the amount of common share dividends declared by the Board of Directors, credited to outstanding restricted equity awards at the time a dividend is paid to shareholders, and distributed upon, or after, vesting of the underlying award.

The total compensation expense recognized for all equity-based compensation for the years ended December 31, was:


(millions)	2024		2023		2022
Pretax expense	$	122	$	121	$	123
Tax benefit1	17		17		16

1 Differs from statutory rate of 21% due to the expected disallowance of certain executive compensation deductions.

Earnings Per Common Share Basic earnings per common share is computed using the weighted average number of common shares outstanding during the reporting period, excluding unvested, non-employee director, time-based restricted equity awards. Diluted earnings per common share includes common stock equivalents assumed outstanding during the period. Our common stock equivalents, which are calculated using the treasury stock method, include the incremental shares assumed to be issued for:

•earned but unvested time-based restricted equity awards; and

•performance-based restricted equity awards that satisfied certain contingency conditions for unvested common stock equivalents during the period and are highly likely to continue to satisfy the conditions until the date of vesting.

During 2024, we redeemed all of our outstanding Serial Preferred Shares, Series B. See Note 14 – Dividends for further discussion. To determine net income available to common shareholders, which is used in the calculation of the per common share amounts, we reduced net income by preferred share dividends, and, for 2024:

•underwriting discounts and commissions on the preferred share issuance;

•initial issuance costs related to the preferred shares; and

•excise taxes related to the preferred share redemption.

For periods when a net loss is reported, earnings per common share would be calculated using basic average equivalent common shares since diluted earnings per share would be antidilutive.

Supplemental Cash Flow Information Cash and cash equivalents include bank demand deposits and daily overnight reverse repurchase commitments of funds held in bank demand deposit accounts by certain subsidiaries. The amount of overnight reverse repurchase commitments, which are not considered part of the investment portfolio, held by these subsidiaries at December 31, 2024, 2023, and 2022, were $127 million, $68 million, and $126 million. Restricted cash and restricted cash equivalents include collateral held against unpaid deductibles and cash that is restricted to pay flood claims under the NFIP’s “Write Your Own” program, for which certain subsidiaries are participants.

For the years ended December 31, non-cash activity included the following:


(millions)	2024		2023		2022
Common share dividends1	$	2,695	$	498	$	58
Preferred share dividends and redemption1	3		0		13
Operating lease liabilities2	96		114		36

1 Includes declared but unpaid dividends and unpaid excise taxes on redemption. See Note 14 – Dividends for further discussion.

2 From obtaining right-of-use assets. See Note 13 – Leases for further discussion.

For the years ended December 31, we paid the following:


(millions)	2024		2023		2022
Income taxes1	$	2,585	$	821	$	719
Interest	276		265		229
Operating lease liabilities	84		77		83

1 The increase in income taxes paid in 2024 was primarily driven by higher profitability, compared to the prior years.

Commitments and Contingencies We have certain noncancelable purchase obligations for goods and services with minimum commitments of $1,594 million at December 31, 2024, primarily consisting of software licenses, maintenance on information technology equipment, and media placements. Aggregate payments on these obligations for the years ended December 31, are as follows:


(millions)	Payments
2025	$	1,001
2026	298
2027	114
2028	36
2029	12
Thereafter	133
Total	$	1,594

In addition, we have commitments for reinsurance agreements, primarily related to multiple-layer property catastrophe reinsurance contracts with various reinsurers with terms ranging from one to three years. The minimum commitment under these agreements at December 31, 2024, was $341 million, of which $270 million, $56 million, and $15 million will be paid in 2025, 2026, and 2027, respectively.

Litigation Reserves We establish accruals for pending lawsuits when it is probable that a loss has been, or will be, incurred and we can reasonably estimate potential loss exposure, which may include a range of loss, even though outcomes of these lawsuits are uncertain until final disposition. As to lawsuits for which the loss is considered neither probable nor estimable, or is considered probable but not estimable, we do not establish an accrual. For lawsuits that have settled, but for which settlement is not complete, an accrual is established at our best estimate of the loss exposure. We regularly evaluate pending litigation to determine if any losses not deemed probable and estimable become so, at which point we would establish an accrual at either our best estimate of the loss or the lower end of the range of loss.

New Accounting Standards On January 1, 2024, we began amortizing the remaining original cost of tax equity investments to the provision for income taxes, since certain conditions were met, on the modified retrospective basis, pursuant to an Accounting Standards Update (ASU) issued by the Financial Accounting Standards Board. Previously,

these investments were accounted for under the equity method of accounting and the amortization was recognized

as a net impairment loss on the consolidated statements of comprehensive income. The adoption of the ASU had no cumulative effect on retained earnings and did not have a material impact on our financial condition or results of

operations. The amount of income tax credits and investment amortization recognized for the year ended December 31, 2024, and the carrying amount of the tax credit investments at December 31, 2024, were not material to our financial condition or results of operations and, therefore, no additional disclosure is provided.

Effective for our 2024 year end reporting, we adopted the ASU related to additional disclosures on segment reporting. The additional disclosures are intended to provide users of the financial statements with more transparent information about an entity's significant segment expenses, measures of segment profit or loss, and a discussion of how these measures are used by the chief operating decision maker to assess operating segment performance. Other than the new disclosures added to Note 10 – Segment Information, there was no impact to our financial condition or results of operations related to this standard.

Investments

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Investments

INVESTMENTS

The following tables present the composition of our investment portfolio by major security type:


($ in millions)	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Net Holding Period Gains (Losses)		Fair Value		% of Total Fair Value
December 31, 2024
Available-for-sale securities:
Fixed maturities:
U.S. government obligations	$	47,103	$	36	$	(1,151)	$	0	$	45,988	57.3	%
State and local government obligations	2,893		2		(117)		0		2,778		3.5
Foreign government obligations	16		0		0		0		16		0
Corporate and other debt securities	14,111		65		(215)		(7)		13,954		17.4
Residential mortgage-backed securities	1,600		9		(11)		3		1,601		2.0
Commercial mortgage-backed securities	4,721		7		(376)		0		4,352		5.4
Other asset-backed securities	6,682		26		(65)		0		6,643		8.3

Total fixed maturities	77,126		145		(1,935)		(4)		75,332		93.9
Short-term investments	615		0		0		0		615		0.7
Total available-for-sale securities	77,741		145		(1,935)		(4)		75,947		94.6
Equity securities:
Nonredeemable preferred stocks	756		0		0		(28)		728		0.9
Common equities	745		0		0		2,830		3,575		4.5
Total equity securities	1,501		0		0		2,802		4,303		5.4
Total portfolio1	$	79,242	$	145	$	(1,935)	$	2,798	$	80,250	100.0	%


($ in millions)	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Net Holding Period Gains (Losses)		Fair Value		% of Total Fair Value
December 31, 2023
Available-for-sale securities:
Fixed maturities:
U.S. government obligations	$	37,823	$	204	$	(1,158)	$	0	$	36,869	55.9	%
State and local government obligations	2,338		3		(138)		0		2,203		3.3
Foreign government obligations	17		0		(1)		0		16		0.1
Corporate and other debt securities	11,634		87		(335)		(28)		11,358		17.2
Residential mortgage-backed securities	427		0		(10)		0		417		0.6
Commercial mortgage-backed securities	4,536		2		(598)		0		3,940		6.0
Other asset-backed securities	5,667		16		(107)		(1)		5,575		8.4

Total fixed maturities	62,442		312		(2,347)		(29)		60,378		91.5
Short-term investments	1,790		0		0		0		1,790		2.7
Total available-for-sale securities	64,232		312		(2,347)		(29)		62,168		94.2
Equity securities:
Nonredeemable preferred stocks	977		0		0		(75)		902		1.4
Common equities	706		0		0		2,223		2,929		4.4
Total equity securities	1,683		0		0		2,148		3,831		5.8
Total portfolio1	$	65,915	$	312	$	(2,347)	$	2,119	$	65,999	100.0	%

1 At December 31, 2024, we had $125 million of net unsettled security transactions included in other liabilities, compared to $46 million of net unsettled security transactions included in other assets at December 31, 2023.

The total fair value of the portfolio at December 31, 2024 and 2023, included $6.2 billion and $4.2 billion, respectively, of securities held in a consolidated, non-insurance subsidiary of the holding company, net of any unsettled security transactions. A portion of these investments were sold and proceeds used to pay our common share dividends in January 2025; see Note 14 – Dividends for additional information.

Certain fixed-maturity securities previously categorized as redeemable preferred stocks in our footnote disclosures are currently classified as corporate and other debt securities to reflect the accurate categorization based on the underlying features of these securities. The December 31, 2023 amounts, which were previously presented separately as redeemable preferred stocks in our Note 2 - Investments and Note 3 - Fair Value tables, were reclassified to conform to the current year presentation. The reclassification did not have an impact on our total fixed-maturity securities or our results of operations, financial condition, or cash flows.

At December 31, 2024, bonds and certificates of deposit in the principal amount of $774 million were on deposit to meet state insurance regulatory requirements. We did not hold any securities of any one issuer, excluding U.S. government obligations, with an aggregate cost or fair value exceeding 10% of total shareholders’ equity at December 31, 2024 or 2023. At December 31, 2024, we did not hold any debt securities that were non-income producing during the preceding 12 months.

Hybrid Securities Certain securities in our fixed-maturity portfolio are accounted for as hybrid securities because they contain embedded derivatives that are not deemed to be clearly and closely related to the host investments.

These securities are reported at fair value at December 31:


(millions)	2024		2023
Fixed Maturities:
Corporate and other debt securities	$	608	$	672
Residential mortgage-backed securities	479		324
Other asset-backed securities	1		14

Total hybrid securities	$	1,088	$	1,010

Since the embedded derivatives (e.g., change-in-control put option, debt-to-equity conversion, or any other feature unrelated to the credit quality or risk of default of the issuer that could impact the amount or timing of our expected future cash flows) do not have observable intrinsic values, we use the fair value option to record the changes in fair value of these securities through income as a component of net realized gains (losses).

Fixed Maturities The composition of fixed maturities by maturity at December 31, 2024, was:


(millions)	Cost		Fair Value
Less than one year	$	7,620	$	7,588
One to five years	56,663		55,465
Five to ten years	12,590		12,027
Ten years or greater	253		252
Total	$	77,126	$	75,332

Asset-backed securities are classified in the maturity distribution table based upon their projected cash flows. All other securities that do not have a single maturity date are reported based upon expected average maturity. Contractual maturities may differ from expected maturities because the issuers of the securities may have the right to call or prepay obligations.

Gross Unrealized Losses The following tables show the composition of gross unrealized losses by major security type and by the length of time that individual securities have been in a continuous unrealized loss position:


	Total No. of Sec.	Total Fair Value		Gross Unrealized Losses		Less than 12 Months					12 Months or Greater
($ in millions)						No. of Sec.	Fair Value		Gross Unrealized Losses		No. of Sec.	Fair Value		Gross Unrealized Losses
December 31, 2024
U.S. government obligations	113	$	38,782	$	(1,151)	39	$	30,257	$	(418)	74	$	8,525	$	(733)
State and local government obligations	379	2,339		(117)		127	783		(6)		252	1,556		(111)
Corporate and other debt securities	304	7,034		(215)		122	2,935		(33)		182	4,099		(182)
Residential mortgage-backed securities	40	428		(11)		12	377		(4)		28	51		(7)
Commercial mortgage-backed securities	153	3,294		(376)		8	264		(16)		145	3,030		(360)
Other asset-backed securities	84	1,907		(65)		34	912		(8)		50	995		(57)

Total fixed maturities	1,073	$	53,784	$	(1,935)	342	$	35,528	$	(485)	731	$	18,256	$	(1,450)


	Total No. of Sec.	Total Fair Value		Gross Unrealized Losses		Less than 12 Months					12 Months or Greater
($ in millions)						No. of Sec.	Fair Value		Gross Unrealized Losses		No. of Sec.	Fair Value		Gross Unrealized Losses
December 31, 2023
U.S. government obligations	147	$	28,225	$	(1,158)	25	$	11,890	$	(100)	122	$	16,335	$	(1,058)
State and local government obligations	324	1,846		(138)		31	170		(1)		293	1,676		(137)
Foreign government obligations	1	16		(1)		0	0		0		1	16		(1)
Corporate and other debt securities	316	6,675		(335)		26	617		(14)		290	6,058		(321)
Residential mortgage-backed securities	39	88		(10)		2	0		0		37	88		(10)
Commercial mortgage-backed securities	189	3,913		(598)		1	31		(3)		188	3,882		(595)
Other asset-backed securities	207	3,299		(107)		41	640		(1)		166	2,659		(106)

Total fixed maturities	1,223	$	44,062	$	(2,347)	126	$	13,348	$	(119)	1,097	$	30,714	$	(2,228)

A review of the securities in an unrealized loss position indicated that the issuers were current with respect to their interest obligations and that there was no evidence of deterioration of the current cash flow projections that would indicate we would not receive the remaining principal at maturity.

We had 19 securities, across 12 issuers, that had their credit ratings downgraded, with a combined fair value of $429 million and an unrealized loss of $61 million as of December 31, 2024. Based on our analysis of these securities, no credit loss allowance was required.

Allowance For Credit and Uncollectible Losses We are required to measure the amount of potential credit losses for all fixed-maturity securities in an unrealized loss position. We did not record any allowances for credit losses or any write-offs for credit losses deemed to be uncollectible during 2024 or 2023 and did not have a material credit loss allowance balance as of December 31, 2024 or 2023. We considered several factors and inputs related to the individual securities as part of our analysis. The methodology and significant inputs used to measure the amount of credit losses in our portfolio included:

•current performance indicators on the business model or underlying assets (e.g., delinquency rates, foreclosure rates, and default rates);

•credit support (via current levels of subordination);

•historical credit ratings; and

•updated cash flow expectations based upon these performance indicators.

In order to determine the amount of credit loss, if any, we initially reviewed securities in a loss position to determine whether it was likely that we would be required, or intended, to sell any of the securities prior to the recovery of their respective cost bases (which could be maturity). If we were likely to, or intended to, sell prior to a potential recovery, we would write off the full unrealized loss. At December 31, 2024, we wrote down $1 million of unrealized loss on securities we intended to sell prior to their recovery; we did not record any write-downs on securities we intended to sell during 2023.

For those securities that we determined we were not likely to, or did not intend to, sell prior to a potential recovery, we performed additional analysis to determine if the loss was credit related. For securities subject to credit-related loss, we calculated the net present value (NPV) of the cash flows expected (i.e., expected recovery value) using the current book yield for each security. The NPV was then compared to the security’s current amortized value to determine if a credit loss existed. In the event that the NPV was below the amortized value, and the amount was determined to be material on any specific security, or in the aggregate, a credit loss would be deemed to exist, and either an allowance for credit losses would be created, or if an allowance currently existed, either a recovery of the previous allowance, or an incremental loss, would be recorded to net realized gains (losses) on securities.

As of December 31, 2024 and 2023, we believe that none of the unrealized losses on our fixed-maturity securities were related to material credit losses on any specific securities, or in the aggregate. We continue to expect all the securities in our fixed-maturity portfolio to pay their principal and interest obligations.

In addition, we reviewed our accrued investment income outstanding on those securities in an unrealized loss position at December 31, 2024 and 2023, to determine if the accrued interest amounts were uncollectible. Based on our analysis, we believe the issuers have sufficient liquidity and capital reserves to meet their current interest, and future principal, obligations and, therefore, did not write off any accrued income as uncollectible at December 31, 2024 or 2023.

Realized Gains (Losses) The components of net realized gains (losses) for the years ended December 31, were:


(millions)	2024		2023		2022
Gross realized gains on security sales
Available-for-sale securities:
U.S. government obligations	$	64	$	12	$	11


Corporate and other debt securities	13		1		8
Residential mortgage-backed securities	1		1		1
Commercial mortgage-backed securities	1		0		0



Total available-for-sale securities	79		14		20
Equity securities:
Nonredeemable preferred stocks	0		0		18
Common equities	33		381		846
Total equity securities	33		381		864
Subtotal gross realized gains on security sales	112		395		884
Gross realized losses on security sales
Available-for-sale securities:
U.S. government obligations	(443)		(64)		(434)
State and local government obligations	(1)		0		(1)

Corporate and other debt securities	(54)		(86)		(88)

Commercial mortgage-backed securities	(22)		(107)		(72)
Other asset-backed securities	0		(6)		(4)


Total available-for-sale securities	(520)		(263)		(599)
Equity securities:
Nonredeemable preferred stocks	(18)		(118)		(10)
Common equities	(24)		(22)		(78)
Total equity securities	(42)		(140)		(88)
Subtotal gross realized losses on security sales	(562)		(403)		(687)
Net realized gains (losses) on security sales
Available-for-sale securities:
U.S. government obligations	(379)		(52)		(423)
State and local government obligations	(1)		0		(1)

Corporate and other debt securities	(41)		(85)		(80)
Residential mortgage-backed securities	1		1		1
Commercial mortgage-backed securities	(21)		(107)		(72)
Other asset-backed securities	0		(6)		(4)


Total available-for-sale securities	(441)		(249)		(579)
Equity securities:
Nonredeemable preferred stocks	(18)		(118)		8
Common equities	9		359		768
Total equity securities	(9)		241		776

Subtotal net realized gains (losses) on security sales	(450)		(8)		197
Other assets
Gain	36		22		0


Net holding period gains (losses)
Hybrid securities	25		45		(82)
Equity securities	654		303		(2,018)

Subtotal net holding period gains (losses)	679		348		(2,100)
Impairment losses
Fixed-maturity securities	(1)		0		0
Other assets	0		(9)		(9)
Subtotal impairment losses	(1)		(9)		(9)
Total net realized gains (losses) on securities	$	264	$	353	$	(1,912)

During 2024 and 2022, the majority of our security sales were U.S. Treasury Notes that were sold for duration management. We also selectively sold securities that we viewed as having less attractive risk/reward profiles. During 2023, the gross losses were primarily related to: (i) commercial mortgage-backed securities, as we reduced certain positions that we believed would be sensitive to

potential future economic uncertainty; (ii) corporate debt securities, as we sold some longer duration securities that had less attractive risk/reward profiles; and (iii) nonredeemable preferred stocks, predominantly due to the sale of certain holdings in U.S. bank preferred stocks.

During both 2023 and 2022, the gross gains in common equities reflected sales of securities, as part of our plan to incrementally reduce risk in the portfolio in response to our view of the potential of a more difficult economic environment.

The other asset gain for all periods presented is related to proceeds received as a result of litigation in conjunction with three renewable energy investments we made from 2016 through 2018 (the original investments were previously written down in full).

The following table reflects our holding period realized gains (losses) recognized on equity securities held at the respective periods ended December 31:


(millions)	2024		2023		2022
Total net gains (losses) recognized during the period on equity securities	$	645	$	544	$	(1,242)
Less: Net gains (losses) recognized on equity securities sold during the period	(9)		241		776
Net holding period gains (losses) recognized during the period on equity securities held at period end	$	654	$	303	$	(2,018)

Net Investment Income The components of net investment income for the years ended December 31, were:


(millions)	2024		2023		2022
Available-for-sale securities:
Fixed maturities:
U.S. government obligations	$	1,489	$	864	$	339
State and local government obligations	61		48		40

Corporate and other debt securities	572		376		300
Residential mortgage-backed securities	47		29		31
Commercial mortgage-backed securities	195		196		191
Other asset-backed securities	332		193		175

Total fixed maturities	2,696		1,706		1,076
Short-term investments	53		92		53
Total available-for-sale securities	2,749		1,798		1,129
Equity securities:
Nonredeemable preferred stocks	39		51		70
Common equities	44		43		61
Total equity securities	83		94		131
Investment income	2,832		1,892		1,260
Investment expenses	(29)		(26)		(24)
Net investment income	$	2,803	$	1,866	$	1,236

On a year-over-year basis, investment income (interest and dividends) increased 50% in both 2024 and 2023, compared to the prior years. Growth in invested assets and an increase in recurring investment book yield contributed to the increase in investment income. The book yield increase primarily reflected investing new cash from insurance operations, and proceeds from maturing bonds, in higher coupon rate securities.

Fair Value

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

FAIR VALUE

We have categorized our financial instruments, based on the degree of subjectivity inherent in the method by which they are valued, into a fair value hierarchy of three levels, as follows:

•Level 1: Inputs are unadjusted, quoted prices in active markets for identical instruments at the measurement date (e.g., U.S. government obligations, which are continually priced on a daily basis, active exchange-traded equity securities, and certain short-term securities).

•Level 2: Inputs (other than quoted prices included within Level 1) that are observable for the instrument either directly or indirectly. This includes: (i) quoted prices for similar instruments in active markets, (ii) quoted prices for identical or similar instruments in markets that are not active, (iii) inputs other than quoted prices that are observable for the instruments, and (iv) inputs that

are derived principally from or corroborated by observable market data by correlation or other means.

•Level 3: Inputs that are unobservable. Unobservable inputs reflect our subjective evaluation about the assumptions market participants would use in pricing the financial instrument (e.g., certain privately held investments).

Determining the fair value of the investment portfolio is the responsibility of management. As part of that responsibility, we evaluate whether a market is distressed or inactive in determining the fair value for our portfolio. We review certain market level inputs to evaluate whether sufficient activity, volume, and new issuances exist to create an active market. Based on this evaluation, we concluded that there was sufficient activity related to the sectors and securities for which we obtained valuations.

The composition of the investment portfolio by major security type and our outstanding debt was:


	Fair Value
(millions)	Level 1		Level 2		Level 3		Total		Cost
December 31, 2024
Fixed maturities:
U.S. government obligations	$	45,988	$	0	$	0	$	45,988	$	47,103
State and local government obligations	0		2,778		0		2,778		2,893
Foreign government obligations	0		16		0		16		16
Corporate and other debt securities	0		13,949		5		13,954		14,111
Residential mortgage-backed securities	0		1,601		0		1,601		1,600
Commercial mortgage-backed securities	0		4,352		0		4,352		4,721
Other asset-backed securities	0		6,643		0		6,643		6,682





Total fixed maturities	45,988		29,339		5		75,332		77,126
Short-term investments	613		2		0		615		615
Total available-for-sale securities	46,601		29,341		5		75,947		77,741
Equity securities:

Nonredeemable preferred stocks	0		676		52		728		756



Common equities:
Common stocks	3,527		0		23		3,550		720
Other risk investments	0		0		25		25		25
Subtotal common equities	3,527		0		48		3,575		745
Total equity securities	3,527		676		100		4,303		1,501
Total portfolio	$	50,128	$	30,017	$	105	$	80,250	$	79,242
Debt	$	0	$	6,173	$	0	$	6,173	$	6,893


	Fair Value
(millions)	Level 1		Level 2		Level 3		Total		Cost
December 31, 2023
Fixed maturities:
U.S. government obligations	$	36,869	$	0	$	0	$	36,869	$	37,823
State and local government obligations	0		2,203		0		2,203		2,338
Foreign government obligations	0		16		0		16		17
Corporate and other debt securities	0		11,355		3		11,358		11,634
Residential mortgage-backed securities	0		417		0		417		427
Commercial mortgage-backed securities	0		3,940		0		3,940		4,536
Other asset-backed securities	0		5,575		0		5,575		5,667





Total fixed maturities	36,869		23,506		3		60,378		62,442
Short-term investments	1,757		33		0		1,790		1,790
Total available-for-sale securities	38,626		23,539		3		62,168		64,232
Equity securities:

Nonredeemable preferred stocks	0		838		64		902		977



Common equities:
Common stocks	2,886		0		22		2,908		685
Other risk investments	0		0		21		21		21
Subtotal common equities	2,886		0		43		2,929		706
Total equity securities	2,886		838		107		3,831		1,683
Total portfolio	$	41,512	$	24,377	$	110	$	65,999	$	65,915
Debt	$	0	$	6,431	$	0	$	6,431	$	6,889

Our portfolio valuations, excluding short-term investments, classified as either Level 1 or Level 2 in the above tables are priced exclusively by external sources, including pricing vendors, dealers/market makers, and exchange-quoted prices.

Our short-term investments classified as Level 1 are highly liquid, actively marketed, and have a very short duration, primarily 90 days or less to redemption. These securities are held at their original cost, adjusted for any accretion of discount, since that value very closely approximates what an active market participant would be willing to pay for such securities. The remainder of our short-term investments are classified as Level 2 and are not priced externally since these securities continually trade at par value. These securities are classified as Level 2 since they are primarily longer-dated securities issued by municipalities that contain either liquidity facilities or mandatory put features within one year.

At both December 31, 2024 and 2023, vendor-quoted prices represented 93% of our Level 1 classifications (excluding short-term investments). The securities quoted by vendors in Level 1 primarily represent our holdings in U.S. Treasury Notes, which are frequently traded, and the quotes are considered similar to exchange-traded quotes. The balance of our Level 1 pricing comes from quotes obtained directly from trades made on active exchanges.

At both December 31, 2024 and 2023, vendor-quoted prices comprised 100% of our Level 2 classifications (excluding short-term investments). In our process for selecting a source (e.g., dealer or pricing service) to provide pricing for securities in our portfolio, we reviewed documentation from the sources that detailed the pricing techniques and methodologies used by these sources and determined if their policies adequately considered market activity, either based on specific transactions for the particular security type or based on modeling of securities with similar credit quality, duration, yield, and structure that were recently transacted. Once a source is chosen, we continue to monitor any changes or modifications to their processes by reviewing their documentation on internal controls for pricing and market reviews. We review quality control measures of our sources as they become available to determine if any significant changes have occurred from period to period that might indicate issues or concerns regarding their evaluation or market coverage.

As part of our pricing procedures, we obtain quotes from more than one source to help us fully evaluate the market price of securities. However, our internal pricing policy is to use a consistent source for individual securities in order to maintain the integrity of our valuation process. Quotes obtained from the sources are not considered binding offers to transact. Under our policy, when a review of the valuation received from our selected source appears to be outside of what is considered market level activity (which is defined as trading at spreads or yields significantly different than those of comparable securities or outside the

general sector level movement without a reasonable explanation), we may use an alternate source’s price. To the extent we determine that it may be prudent to substitute one source’s price for another, we will contact the initial source to obtain an understanding of the factors that may be contributing to the significant price variance.

To allow us to determine if our initial source is providing a price that is outside of a reasonable range, we review our portfolio pricing on a weekly basis. When necessary, we challenge prices from our sources when a price provided does not match our expectations based on our evaluation of market trends and activity. Initially, we perform a review of our portfolio by sector to identify securities whose prices appear outside of a reasonable range. We then perform a more detailed review of fair values for securities disclosed as Level 2. We review dealer bids and quotes for these and/or similar securities to determine the market level context for our valuations. We then evaluate inputs relevant for each class of securities disclosed in the preceding hierarchy tables.

For structured debt securities, including commercial, residential, and other asset-backed securities, we evaluate available market-related data for these and similar securities related to collateral, delinquencies, and defaults for historical trends and reasonably estimable projections, as well as historical prepayment rates and current prepayment assumptions and cash flow estimates. We further stratify each class of structured debt securities into more finite sectors (e.g., planned amortization class, first pay, second pay, senior, and subordinated) and use duration, credit quality, and coupon to determine if the fair value is appropriate.

For corporate and other debt, nonredeemable preferred stock, and the notes issued by The Progressive Corporation (see Note 4 – Debt), we review securities by duration, credit quality, and coupon, as well as changes in interest rate and credit spread movements within that stratification. The review also includes recent trades, including: volume traded at various levels that establish a market; issuer specific fundamentals; and industry-specific economic news as it comes to light.

For municipal securities (e.g., general obligations, revenue, and housing), we stratify the portfolio to evaluate securities by type, duration, credit quality, and coupon to review price changes relative to credit spread and interest rate changes. Additionally, we look to economic data as it relates to geographic location as an indication of price-to-call or maturity predictors. For municipal housing securities, we look to changes in cash flow projections, both historical and reasonably estimable projections, to understand yield changes and their effect on valuation.

For short-term securities, we look at acquisition price relative to the coupon or yield. Since our short-term securities are typically 90 days or less to maturity, with the majority listed in Level 2 being 30 days or less to

redemption, we believe that acquisition price is the best estimate of fair value.

We also review data assumptions as supplied by our sources to determine if that data is relevant to current market conditions. In addition, we independently review each sector for transaction volumes, new issuances, and changes in spreads, as well as the overall movement of interest rates along the yield curve to determine if sufficient activity and liquidity exists to provide a credible source for our market valuations.

During each valuation period, we create internal estimations of portfolio valuation (performance returns), based on current market-related activity (i.e., interest rate and credit spread movements and other credit-related factors) within each major sector of our portfolio. We compare our internally generated portfolio results with those generated based on quotes we receive externally and research material valuation differences. We compare our results to index returns for each major sector adjusting for duration and credit quality differences to better understand our portfolio’s results. Additionally, we review on a monthly basis our external sales transactions and compare the actual final market sales prices to previous market valuation prices. This review provides us further validation that our pricing sources are providing market level prices, since we are able to explain significant price changes (i.e., greater than 2%) as known events occur in the marketplace and affect a particular security’s price at sale.

This analysis provides us with additional comfort regarding the source’s process, the quality of its review, and its willingness to improve its analysis based on feedback from clients. We believe this effort helps ensure that we are reporting the most representative fair values for our securities.

After all the valuations are received and our review of Level 2 securities is complete, if the inputs used by vendors are determined to not contain sufficient observable market information, we will reclassify the affected securities to Level 3.

Except as described below, our Level 3 securities are priced externally; however, due to several factors (e.g., nature of the securities, level of activity, and lack of similar securities trading to obtain observable market level inputs), these valuations are more subjective in nature.

To the extent we receive prices from external sources (e.g., broker and valuation firm) for the Level 3 securities, we review those prices for reasonableness using internally developed assumptions and then compare our derived prices to the prices received from the external sources. Based on our review, all prices received from external sources remained unadjusted.

If we do not receive prices from an external source, we perform an internal fair value comparison, which includes a review and analysis of market-comparable securities, to determine if fair value changes are needed. Based on this analysis, certain private equity investments included in the

Level 3 category remain valued at cost or were priced using a recent transaction as the basis for fair value. At least annually, these private equity investments are priced by an external source.

Our Level 3 other risk investments include securities accounted for under the equity method of accounting and, therefore, are not subject to fair value reporting. Since these securities represent less than 0.1% of our total portfolio, we will continue to include them in our Level 3 disclosures and report the activity from these investments as “other” changes in the summary of changes in fair value table and categorize these securities as “pricing exemption securities” in the quantitative information table.

During 2024 and 2023, there were no material assets or liabilities measured at fair value on a nonrecurring basis.

Due to the relative size of the Level 3 securities’ fair values, compared to the total portfolio’s fair value, any changes in pricing methodology would not have a significant change in valuation that would materially impact net or comprehensive income.

The following tables provide a summary of changes in fair value associated with Level 3 assets for the years ended December 31, 2024 and 2023:


	Level 3 Fair Value
(millions)	Fair Value at Dec. 31, 2023		Calls/ Maturities/ Paydowns/Other		Purchases		Sales		Net Realized (Gain)/Loss on Sales		Change in Valuation1		Net Transfers In (Out)		Fair Value at Dec. 31, 2024
Fixed maturities:
Corporate and other debt securities	$	3	$	0	$	2	$	0	$	0	$	0	$	0	$	5



Equity securities:

Nonredeemable preferred stocks	64		0		0		0		0		(12)		0		52

Common equities:
Common stocks	22		0		0		0		0		1		0		23
Other risk investments	21		4		0		0		0		0		0		25
Total Level 3 securities	$	110	$	4	$	2	$	0	$	0	$	(11)	$	0	$	105


	Level 3 Fair Value
(millions)	Fair Value at Dec. 31, 2022		Calls/ Maturities/ Paydowns/Other		Purchases		Sales		Net Realized (Gain)/Loss on Sales		Change in Valuation1		Net Transfers In (Out)		Fair Value at Dec. 31, 2023




Fixed maturities:
Corporate and other debt securities	$	0	$	0	$	3	$	0	$	0	$	0	$	0	$	3
Equity securities:

Nonredeemable preferred stocks	84		(8)		1		0		0		(13)		0		64

Common equities:
Common stocks	18		8		0		(10)		9		(3)		0		22
Other risk investments	20		1		0		0		0		0		0		21
Total Level 3 securities	$	122	$	1	$	4	$	(10)	$	9	$	(16)	$	0	$	110

1For fixed maturities, amounts included are unrealized gains (losses) included in accumulated other comprehensive income (loss) on our consolidated balance sheets. For equity securities, amounts included are net holding period gains (losses) on securities on our consolidated statements of comprehensive income.

The following tables provide a summary of the quantitative information about Level 3 fair value measurements for our applicable securities at December 31:

Quantitative Information about Level 3 Fair Value Measurements

($ in millions)

Fair Value at Dec. 31, 2024

Valuation Technique

Unobservable Input

Range of Input Values Increase (Decrease)

Weighted Average Increase (Decrease)

Fixed maturities:

Corporate and other debt securities

$

5

Market comparables

Weighted average market capitalization price change %

(1.4)% to (1.3)%

(1.4)

%

Equity securities:

Nonredeemable preferred stocks

52

Market comparables

Weighted average market capitalization price change %

(14.1)% to 6.0%

(2.7)

%

Common stocks

23

Market comparables

Weighted average market capitalization price change %

(41.3)% to 95.9%

6.0

%

Subtotal Level 3 securities

80

Pricing exemption securities

25

Total Level 3 securities

$

105

Quantitative Information about Level 3 Fair Value Measurements

($ in millions)

Fair Value at Dec. 31, 2023

Valuation Technique

Unobservable Input

Range of Input Values Increase (Decrease)

Weighted Average Increase (Decrease)

Fixed maturities:

Corporate and other debt securities

$

3

Market comparables

Weighted average market capitalization price change %

0.3% to 7.7%

2.6

%

Equity securities:

Nonredeemable preferred stocks

64

Market comparables

Weighted average market capitalization price change %

17.2% to 39.7%

21.7%

Common stocks

22

Market comparables

Weighted average market capitalization price change %

(45.8)% to 95.6%

39.7%

Subtotal Level 3 securities

89

Pricing exemption securities

21

Total Level 3 securities

$

110

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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Debt

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

DEBT

Debt at December 31, consisted of the following Senior Notes:


($ in millions)						2024				2023
Principal Amount		Interest Rate		Issuance Date	Maturity Date	Carrying Value		Fair Value		Carrying Value		Fair Value
$	500	2.45	%	August 2016	2027	$	499	$	479	$	499	$	469
500		2.50		March 2022	2027	499		479		498		469
300		6 5/8		March 1999	2029	298		320		298		329
550		4.00		October 2018	2029	547		534		547		543
500		3.20		March 2020	2030	498		462		497		462
500		3.00		March 2022	2032	497		439		496		446
400		6.25		November 2002	2032	397		430		397		446
500		4.95		May 2023	2033	497		495		496		513
350		4.35		April 2014	2044	347		298		347		314
400		3.70		January 2015	2045	396		308		396		325
850		4.125		April 2017	2047	842		684		842		756
600		4.20		March 2018	2048	591		490		591		534
500		3.95		March 2020	2050	491		386		491		422
500		3.70		March 2022	2052	494		369		494		403
Total						$	6,893	$	6,173	$	6,889	$	6,431

All of the outstanding debt was issued by The Progressive Corporation and includes amounts that were borrowed for general corporate purposes, which may include contributions to the capital of its insurance subsidiaries, payments of debt at maturity, or may be used, or made available for use, for other business purposes. Fair values for these debt instruments are obtained from external sources. There are no restrictive financial covenants or credit rating triggers on the outstanding debt.

Interest on all debt is payable semiannually at the stated rates. All principal is due at the stated maturity. Each note is redeemable, in whole or in part, at any time; however, the redemption price will equal the greater of the principal amount of the note or a “make whole” amount calculated by reference to the present values of remaining scheduled principal and interest payments under the note. There was no short-term debt outstanding at December 31, 2024 or 2023.

Aggregate required principal payments on debt outstanding at December 31, 2024, were as follows:


(millions)	Payments
2025	$	0
2026	0
2027	1,000
2028	0
2029	850
Thereafter	5,100
Total	$	6,950

Prior to certain issuances of our debt securities, we entered into forecasted transactions to hedge against possible rises in interest rates. When the contracts were closed upon the issuance of the applicable debt securities, we recognized the unrealized gains (losses) on these contracts as part of accumulated other comprehensive income (see Note 1 – Reporting and Accounting Policies, Investments for further discussion). These unrealized gains (losses) are amortized as adjustments to interest expense over the life of the related notes.

The following table shows the original gain (loss) recognized at debt issuance and the unamortized balance at December 31, 2024, on a pretax basis:


(millions)	Unrealized Gain (Loss) at Issuance		Unamortized Balance at December 31, 2024
6 5/8% Senior Notes due 2029	$	(4)	$	(2)
6.25% Senior Notes due 2032	5		2
4.35% Senior Notes due 2044	(2)		(1)
3.70% Senior Notes due 2045	(13)		(10)
4.125% Senior Notes due 2047	(8)		(7)

In 2024, 2023, and 2022, there were minimal net reclassifications of net pretax unrealized losses from accumulated other comprehensive income to interest expense on our closed debt issuance cash flow hedges.

During 2024, The Progressive Corporation renewed its line of credit with PNC Bank, National Association (PNC), in the maximum principal amount of $300 million. Subject to the terms and conditions of the line of credit documents,

advances under the line of credit, if any, will bear interest at a variable rate equal to the 1-month term Secured Overnight Financing Rate (SOFR) plus 1.10%. Each advance must be repaid on the 30th day after the date of the advance or, if earlier, on April 30, 2025, the expiration

date of the line of credit. Prepayments are permitted without penalty. The line of credit is uncommitted and, as such, all advances are subject to PNC’s discretion. We had no borrowings under the line of credit in 2024 or 2023.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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Income Taxes

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

The components of our income tax provision for the years ended December 31, were as follows:


(millions)	2024		2023		2022
Current tax provision
Federal	$	2,247	$	1,102	$	733
State	58		19		13
Deferred tax expense (benefit)
Federal	(70)		(120)		(529)
State	(2)		0		(17)
Total income tax provision	$	2,233	$	1,001	$	200

The provision for income taxes in the consolidated statements of comprehensive income differed from the statutory rate for the years ended December 31, as follows:


	2024				2023				2022
($ in millions)	Expense (Benefit)		Rate Impact		Expense (Benefit)		Rate Impact		Expense (Benefit)		Rate Impact
Income before income taxes	$	10,713			$	4,904			$	922
Tax at statutory federal rate	$	2,250	21	%	$	1,030	21	%	$	194	21	%
Tax effect of:
State income taxes, net of federal taxes	44		0		15		0		(3)		0
Stock-based compensation	(34)		0		(22)		(1)		(18)		(2)
Tax-deductible dividends	(18)		0		(5)		0		(2)		0
Nondeductible compensation expense	10		0		10		0		11		1
Tax-preferenced investment income	(10)		0		(10)		0		(13)		(1)
Tax credits	(7)		0		(17)		0		(15)		(2)
Goodwill impairment1	0		0		0		0		47		5
Other items, net	(2)		0		0		0		(1)		0
Total income tax provision	$	2,233	21	%	$	1,001	20	%	$	200	22	%
1 The ARX Holding Corp. acquisition did not create goodwill for income tax purposes. As a result, the impairment was not deductible for income tax purposes.

Deferred income taxes reflect the tax effects of temporary differences between the financial statement carrying amounts and the tax bases of assets and liabilities. The following table shows the components of the net deferred tax assets and liabilities at December 31:


(millions)	2024		2023
Federal deferred income tax assets:
Unearned premiums reserve	$	991	$	836
Net unrealized losses on fixed-maturity securities	376		427
Loss and loss adjustment expense reserves	342		293
Non-deductible accruals	274		238
Software development costs	89		66
Operating lease liabilities	41		37
Hedges on forecasted transactions	4		4
Other	27		13
Federal deferred income tax liabilities:
Net holding period gains on equity securities	(588)		(451)
Deferred acquisition costs	(412)		(354)
Property and equipment	(85)		(88)
Operating lease assets	(41)		(37)
Investment basis differences	(22)		0
Prepaid expenses	(10)		(6)
Loss and loss adjustment expense reserve transition adjustment	(8)		(16)
Other	(24)		(26)
Net federal deferred income taxes	954		936
State deferred income tax assets1	42		40
Total	$	996	$	976

1 State deferred tax assets are recorded in other assets on our consolidated balance sheets.

Although realization of the deferred tax assets is not assured, management believes that it is more likely than not that the deferred tax assets will be realized based on our expectation that we will be able to fully utilize the deductions that are ultimately recognized for tax purposes and, therefore, no valuation allowance was needed at December 31, 2024 or 2023. We believe our deferred tax asset related to net unrealized losses on fixed-maturity securities will be realized based on the existence of current temporary differences related to unrealized gains in our equity portfolio and prior-year capital gains.

At December 31, 2024 and 2023, we had net current income taxes payable of $26 million and $312 million, respectively, which were reported in accounts payable, accrued expenses, and other liabilities on our consolidated balance sheets. This balance, which represented our estimated tax liability for the year less payments made during the year, and less any taxes paid in prior years recoverable through carryback, may fluctuate from period to period due to normal timing differences.

At December 31, 2024 and 2023, we have not recorded any unrecognized tax benefits or related interest and penalties. For the years ended December 31, 2024, 2023, and 2022, we recognized immaterial amounts of interest and penalties as a component of the income tax provision.

The Progressive Corporation and its subsidiaries file a consolidated federal income tax return. All federal income tax years prior to 2021 are generally closed to examination; however, 2016 remains open for a tax credit partnership investment. The statute of limitations also remains open for the final consolidated federal income tax return for the Protective Insurance Corporation and subsidiaries for the period from January 1, 2021 through the June 2021 acquisition date. The statute of limitations for state income tax purposes generally remains open for three to four years from the return filing date, depending upon the jurisdiction. There has been no significant state income tax audit activity.

The entire disclosure for income tax.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Loss And Loss Adjustment Expense Reserves

Loss And Loss Adjustment Expense Reserves

12 Months Ended

Dec. 31, 2024

Insurance [Abstract]

LOSS AND LOSS ADJUSTMENT EXPENSE RESERVES

We write personal and commercial auto insurance, personal residential property insurance, business-related general liability and commercial property insurance predominantly for small businesses, workers’ compensation insurance primarily for the transportation industry, and other specialty property-casualty insurance and provide related services throughout the United States. As a property-casualty insurance company, we are exposed to hurricanes or other catastrophes. We are unable to predict the frequency or severity of any such events that may occur in the near term or thereafter. To help mitigate this risk in our Personal Lines property business, we currently maintain excess of loss reinsurance coverage, both on an aggregate and a per occurrence basis.

As we are primarily an insurer of motor vehicles and residential property, we have minimal exposure to environmental and asbestos claims.

Loss and Loss Adjustment Expense Reserves Loss and loss adjustment expense (LAE) reserves represent our best estimate of our ultimate liability for losses and LAE relating to events that occurred prior to the end of any given accounting period but have not yet been paid. For our Personal and Commercial Lines vehicle businesses, which represented about 91% of our total carried reserves at December 31, 2024, we establish loss and LAE reserves after completing reviews at a disaggregated level of grouping. Progressive’s actuarial staff reviews approximately 400 subsets of business data, which are at a combined state, product, and line coverage level, to calculate the needed loss and LAE reserves. During a reserve review, ultimate loss amounts are estimated using several industry standard actuarial projection methods. These methods take into account historical comparable loss data at the subset level and estimate the impact of various loss development factors, such as the frequency (number of losses per exposure), severity (dollars of loss per each claim), and average premium (dollars of premium per earned car year), as well as the frequency and severity of loss adjustment expense costs.

We begin our review of a set of data by producing multiple estimates of needed reserves, using both paid and incurred data, to determine if a reserve change is required. In the event of a wide variation among results generated by the different projections, our actuarial group will further analyze the data using additional quantitative analysis. Each review develops a point estimate for a relatively small subset of the business, which allows us to establish

meaningful reserve levels for that subset. We believe our comprehensive process of reviewing at a subset level provides us more meaningful estimates of our aggregate loss reserves.

The actuarial staff completes separate projections of needed case and incurred but not recorded (IBNR) reserves. Since a large majority of the parties involved in an accident report their claims within a short time period after the occurrence, we do not carry a significant amount of IBNR reserves for older accident years. Based on the methodology we use to estimate case reserves for our personal vehicle and Commercial Lines auto businesses, we generally do not have expected development on reported claims included in our IBNR reserves. We do, however, include anticipated salvage and subrogation recoveries in our IBNR reserves, which could result in negative carried IBNR reserves, primarily in our physical damage reserves.

Changes from our historical data trends, or third-party modeled data trends, may reduce the predictiveness of our projected future loss costs. Internal considerations that are process-related, which generally result from changes in our claims organization’s activities, include claim closure rates, the number of claims that are closed without payment, and the level of the claims representatives’ estimates of the needed case reserve for each claim. These changes and their effect on the historical data are studied at the state level versus on a larger, less indicative, countrywide basis. External items considered include the litigation atmosphere, state-by-state changes in medical costs, and the availability of services to resolve claims. These also are better understood at the state level versus at a more macro, countrywide level. The actuarial staff takes these changes into consideration when making their assumptions to determine needed reserve levels.

Similar to our vehicle businesses, our actuarial staff analyzes loss and LAE data for our Commercial Lines non-vehicle business and our Personal Lines property business on a claim occurrence period basis. Many of the methodologies and key parameters reviewed are similar. In addition, for our Progressive Fleet & Specialty Programs (previously referred to as Protective Insurance) and Personal Lines property businesses, since claims adjusters primarily establish the case reserves, the actuarial staff includes expected development on case reserves as a component of the overall IBNR reserves.

Activity in the loss and LAE reserves is summarized as follows:


(millions)	2024		2023		2022
Balance at January 1	$	34,389	$	30,359	$	26,164
Less reinsurance recoverables on unpaid losses	4,789		5,559		4,734
Net balance at January 1	29,600		24,800		21,430
Incurred related to:
Current year	49,476		44,561		38,209
Prior years	(416)		1,094		(86)
Total incurred	49,060		45,655		38,123
Paid related to:
Current year	28,909		26,875		23,543
Prior years	15,181		13,980		11,210
Total paid	44,090		40,855		34,753
Net balance at December 31	34,570		29,600		24,800
Plus reinsurance recoverables on unpaid losses	4,487		4,789		5,559
Balance at December 31	$	39,057	$	34,389	$	30,359

We experienced favorable development of $416 million and $86 million in 2024 and 2022, respectively, compared to unfavorable reserve development of $1,094 million in 2023, which is reflected as “Incurred related to prior years” in the table above.

2024

•The favorable prior year reserve development included approximately $180 million attributable to accident year 2023, $55 million to accident year 2022, and the remainder to accident years 2021 and prior.

•Our personal auto products incurred about $550 million of favorable loss and LAE reserve development, with about 60% attributable to the agency auto business and the balance to the direct auto business. The favorable development was, in part, due to lower than anticipated severity and frequency in Florida and lower than anticipated property damage severity across the majority of states.

•Our personal property products experienced about $80 million of unfavorable development primarily due to higher LAE costs than anticipated.

•Our Commercial Lines business experienced about $50 million of unfavorable development primarily driven by higher than anticipated severity in our commercial auto business for California, New York, and Texas.

2023

•The unfavorable reserve development for 2023 included approximately $950 million attributable to accident year 2022 and $125 million to accident year 2021.

•Our personal auto products incurred about $715 million of unfavorable loss and LAE reserve development, with the agency and direct auto businesses each contributing about half. About half of this unfavorable development was attributable to higher than anticipated severity in auto property and physical damage coverages. The remaining unfavorable development was primarily due to increased loss costs in Florida injury and medical coverages and, to a lesser extent, higher than anticipated late reported injury claims; partially offset by lower than expected LAE.

•Our Commercial Lines business experienced about $365 million of unfavorable development, primarily driven by higher than anticipated severity and frequency of late reported injury claims and large loss emergence on injury claims, with about half attributable to our TNC business.

2022

•The favorable reserve development for 2022 reflected approximately $22 million of favorable prior year reserve development that was attributable to accident year 2021, $47 million to accident year 2020, and the remainder to accident years 2019 and prior.

•Our personal auto products incurred $157 million of favorable loss and LAE reserve development, with the agency and direct auto businesses each contributing about half. The favorable development was primarily attributable to more subrogation and salvage recoveries and lower LAE than originally anticipated, partially offset by higher than anticipated severity and frequency of auto property damage payments on previously closed claims and late reported injury claims.

•Our Commercial Lines business experienced $82 million of unfavorable development, primarily driven by our TNC business, due to higher than anticipated severity of injury case reserves and higher than anticipated severity and frequency of late reported claims.

Incurred and Paid Claims Development by Accident Year The following tables present our incurred, net of reinsurance, and paid claims development by accident year for the number of years that generally have historically represented the maximum development period for claims. The tables below include inception-to-date information for companies acquired and wholly exclude companies disposed of, rather than including information from the date of acquisition, or until the date of disposition. We believe the most meaningful presentation of claims development is through the retrospective approach by presenting all relevant historical information for all periods presented.

We have elected to present our incurred and paid claims development in consideration with our GAAP reportable segments (see Note 10 – Segment Information for a discussion of our segment reporting), with a further disaggregation of our Personal Lines vehicles and Commercial Lines auto business claims development between liability and physical damage, since the loss patterns are significantly different between them. The

Commercial Lines other business includes coverages for Progressive Fleet & Specialty Programs (Fleet & Specialty) other than liability and physical damage. Reserves for our run-off products are not considered material and, therefore, are not included in a separate claims development table.

Only 2024 is audited; all prior years are considered required supplementary information and, therefore, are unaudited. Expected development on our case reserves is excluded from the IBNR reserves on our vehicle businesses, as discussed above. For the Personal Lines property business and the Commercial Lines other business, the IBNR reserves include expected case development based on the methodology used in establishing the case reserves. The cumulative number of incurred claims are based on accident coverages (e.g., bodily injury, collision, comprehensive, personal injury protection, property damage) related to opened claims. Coverage counts related to claims closed without payment are excluded from the cumulative number of incurred claims.


Personal Lines - Vehicles - Agency - Liability
($ in millions)											As of
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance											December 31, 2024
	For the years ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Incurred Claim Counts
Accident Year	20201		20211		20221		20231		2024
2020	$	5,434	$	5,405	$	5,386	$	5,458	$	5,335	$	0	757,059
2021			6,716		6,862		6,936		6,943		139		885,883
2022					7,077		7,302		7,226		168		842,089
2023							8,616		8,365		458		899,528
2024									9,700		1,991		922,906
							Total		$	37,569
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the years ended December 31,
Accident Year	20201		20211		20221		20231		2024
2020	$	2,383	$	4,112	$	4,797	$	5,122	$	5,257
2021			2,855		5,239		6,183		6,569
2022					3,019		5,564		6,486
2023							3,527		6,311
2024									3,753
							Total		$	28,376
	All outstanding liabilities before 2020, net of reinsurance1								101
	Liabilities for claims and claim adjustment expenses, net of reinsurance								$	9,294

1 Required supplementary information (unaudited)


Personal Lines - Vehicles - Agency - Physical Damage
($ in millions)											As of
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance											December 31, 2024
	For the years ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Incurred Claim Counts
Accident Year	20201		20211		20221		20231		2024
2020	$	3,329	$	3,320	$	3,327	$	3,323	$	3,334	$	0	1,785,155
2021			4,708		4,624		4,629		4,619		0		2,106,004
2022					5,429		5,545		5,584		27		2,033,436
2023							5,775		5,880		(16)		2,116,608
2024									6,214		(262)		2,110,655
							Total		$	25,631
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the years ended December 31,
Accident Year	20201		20211		20221		20231		2024
2020	$	3,250	$	3,323	$	3,323	$	3,328	$	3,332
2021			4,438		4,621		4,612		4,617
2022					5,176		5,542		5,549
2023							5,584		5,883
2024									5,932
							Total		$	25,313
	All outstanding liabilities before 2020, net of reinsurance1								6
	Liabilities for claims and claim adjustment expenses, net of reinsurance								$	324

1 Required supplementary information (unaudited)


Personal Lines - Vehicles - Direct - Liability
($ in millions)											As of
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance											December 31, 2024
	For the years ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Incurred Claim Counts
Accident Year	20201		20211		20221		20231		2024
2020	$	5,357	$	5,323	$	5,302	$	5,343	$	5,235	$	0	789,868
2021			6,965		7,180		7,244		7,235		118		981,585
2022					7,563		7,870		7,799		160		973,940
2023							9,628		9,424		436		1,095,697
2024									11,584		2,218		1,224,816
							Total		$	41,277
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the years ended December 31,
Accident Year	20201		20211		20221		20231		2024
2020	$	2,301	$	4,019	$	4,721	$	5,036	$	5,165
2021			2,915		5,461		6,488		6,899
2022					3,132		5,983		7,023
2023							3,926		7,160
2024									4,496
							Total		$	30,743
	All outstanding liabilities before 2020, net of reinsurance1								83
	Liabilities for claims and claim adjustment expenses, net of reinsurance								$	10,617

1 Required supplementary information (unaudited)


Personal Lines - Vehicles - Direct - Physical Damage
($ in millions)											As of
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance											December 31, 2024
	For the years ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Incurred Claim Counts
Accident Year	20201		20211		20221		20231		2024
2020	$	3,776	$	3,753	$	3,766	$	3,762	$	3,773	$	0	2,139,157
2021			5,752		5,568		5,573		5,570		3		2,602,980
2022					6,613		6,724		6,763		22		2,608,806
2023							7,578		7,678		(32)		2,858,910
2024									8,241		(398)		2,978,088
							Total		$	32,025
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the years ended December 31,
Accident Year	20201		20211		20221		20231		2024
2020	$	3,720	$	3,766	$	3,762	$	3,767	$	3,771
2021			5,422		5,579		5,560		5,565
2022					6,326		6,732		6,732
2023							7,362		7,692
2024									7,851
							Total		$	31,611
	All outstanding liabilities before 2020, net of reinsurance1								1
	Liabilities for claims and claim adjustment expenses, net of reinsurance								$	415

1 Required supplementary information (unaudited)


Personal Lines - Property
($ in millions)											As of
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance											December 31, 2024
	For the years ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Incurred Claim Counts
Accident Year	20201		20211		20221		20231		2024
2020	$	1,224	$	1,247	$	1,261	$	1,256	$	1,258	$	2	88,732
2021			1,540		1,516		1,503		1,498		6		89,934
2022					1,665		1,622		1,612		28		90,182
2023							1,583		1,605		95		81,801
2024									1,696		392		75,902
							Total		$	7,669
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the years ended December 31,
Accident Year	20201		20211		20221		20231		2024
2020	$	833	$	1,141	$	1,211	$	1,237	$	1,250
2021			1,035		1,375		1,444		1,476
2022					1,042		1,470		1,545
2023							1,078		1,441
2024									1,050
							Total		$	6,762
	All outstanding liabilities before 2020, net of reinsurance1								4
	Liabilities for claims and claim adjustment expenses, net of reinsurance								$	911

1 Required supplementary information (unaudited)


Commercial Lines - Liability
($ in millions)											As of
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance											December 31, 2024
	For the years ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Incurred Claim Counts
Accident Year	20201		20211		20221		20231		2024
2020	$	2,336	$	2,389	$	2,419	$	2,437	$	2,418	$	15	117,487
2021			3,447		3,527		3,574		3,581		79		156,656
2022					4,526		4,835		4,862		180		182,645
2023							5,456		5,502		472		189,384
2024									5,552		1,136		187,406
							Total		$	21,915
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the years ended December 31,
Accident Year	20201		20211		20221		20231		2024
2020	$	441	$	1,110	$	1,629	$	2,044	$	2,255
2021			574		1,546		2,414		2,990
2022					749		2,086		3,232
2023							848		2,307
2024									853
							Total		$	11,637
	All outstanding liabilities before 2020, net of reinsurance1								134
	Liabilities for claims and claim adjustment expenses, net of reinsurance								$	10,412

1 Required supplementary information (unaudited)


Commercial Lines - Physical Damage
($ in millions)											As of
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance											December 31, 2024
	For the years ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Incurred Claim Counts
Accident Year	20201		20211		20221		20231		2024
2020	$	632	$	625	$	622	$	625	$	623	$	0	99,612
2021			921		910		910		910		2		121,945
2022					1,315		1,330		1,329		3		147,349
2023							1,352		1,336		(4)		162,717
2024									1,200		(7)		151,280
							Total		$	5,398
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the years ended December 31,
Accident Year	20201		20211		20221		20231		2024
2020	$	541	$	622	$	620	$	621	$	622
2021			764		903		902		906
2022					1,114		1,315		1,321
2023							1,184		1,328
2024									1,066
							Total		$	5,243
	All outstanding liabilities before 2020, net of reinsurance1								1
	Liabilities for claims and claim adjustment expenses, net of reinsurance								$	156

1 Required supplementary information (unaudited)


Commercial Lines - Other
($ in millions)																					As of
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance																					December 31, 2024
	For the years ended December 31,																				Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Incurred Claim Counts
Accident Year	20151		20161		20171		20181		20191		20201		20211		20221		20231		2024
2015	$	51	$	45	$	46	$	48	$	47	$	45	$	45	$	45	$	45	$	45	$	3	9,528
2016			52		43		41		42		40		40		40		40		40		2		7,649
2017					63		55		51		49		46		48		55		54		9		17,683
2018							82		81		77		77		77		82		83		11		15,494
2019									81		83		85		88		88		88		8		10,732
2020											75		81		82		83		83		11		9,561
2021													84		87		89		85		16		9,409
2022															84		81		82		18		7,740
2023																	85		85		27		7,512
2024																			61		35		5,028
																	Total		$	706
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the years ended December 31,
Accident Year	20151		20161		20171		20181		20191		20201		20211		20221		20231		2024
2015	$	7	$	18	$	27	$	31	$	34	$	36	$	37	$	38	$	39	$	40
2016			9		21		27		31		33		34		35		36		36
2017					10		24		31		35		37		40		42		42
2018							18		40		50		57		62		65		67
2019									20		42		56		65		71		75
2020											16		39		52		60		64
2021													17		40		52		61
2022															18		40		51
2023																	18		42
2024																			13
																	Total		$	491
					All outstanding liabilities before 2015, net of reinsurance1														31
					Liabilities for claims and claim adjustment expenses, net of reinsurance														$	246

1 Required supplementary information (unaudited)

The following table reconciles the net incurred and paid claims development tables to the liability for claims and claim adjustment expenses:


(millions)	2024		2023
Net outstanding liabilities
Personal Lines
Vehicles
Agency, Liability	$	9,294	$	8,109
Agency, Physical Damage	324		213
Direct, Liability	10,617		8,818
Direct, Physical Damage	415		223
Property	911		745
Commercial Lines
Liability	10,412		9,192
Physical Damage	156		197
Other	246		261
Other business	177		89
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance	32,552		27,847
Reinsurance recoverables on unpaid claims
Personal Lines
Vehicles
Agency, Liability	912		875
Agency, Physical Damage	0		0
Direct, Liability	1,559		1,471
Direct, Physical Damage	0		0
Property	567		632
Commercial Lines
Liability	845		1,078
Physical Damage	1		1
Other	218		216
Other business	354		475
Total reinsurance recoverables on unpaid claims	4,456		4,748
Unallocated claims adjustment expense related to:
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance	2,018		1,753
Reinsurance recoverables on unpaid claims	31		41
Total gross liability for unpaid claims and claim adjustment expense	$	39,057	$	34,389

The following table shows the average historical claims duration as of December 31, 2024:


(Required Supplementary Information - Unaudited)
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance	Years
	1	2	3	4	5
Personal Lines
Vehicles
Agency, Liability	41.4%	33.9%	13.1%	5.8%	2.5%
Agency, Physical Damage	95.1	4.7	0	0.1	0.1
Direct, Liability	40.6	34.9	13.7	5.8	2.5
Direct, Physical Damage	95.8	3.9	(0.1)	0.1	0.1
Property	65.7	24.1	4.9	2.1	1.0
Commercial Lines
Liability	15.8	27.1	23.3	16.5	8.7
Physical Damage	86.5	13.5	0.1	0.3	0.2
Other	20.7	26.8	14.6	9.4	5.6

Reinsurance

12 Months Ended

Dec. 31, 2024

Reinsurance Disclosures [Abstract]

Reinsurance

REINSURANCE

The effect of reinsurance on premiums written and earned for the years ended December 31, was as follows:


	2024				2023				2022
(millions)	Written		Earned		Written		Earned		Written		Earned
Direct premiums	$	75,893	$	72,169	$	62,721	$	59,881	$	52,336	$	50,650
Ceded premiums:
Regulated	(620)		(619)		(535)		(545)		(622)		(675)
Non-Regulated	(849)		(751)		(636)		(671)		(633)		(734)
Total ceded premiums	(1,469)		(1,370)		(1,171)		(1,216)		(1,255)		(1,409)
Net premiums	$	74,424	$	70,799	$	61,550	$	58,665	$	51,081	$	49,241

Regulated refers to federal or state run plans and primarily includes the following:

•Federal reinsurance plan

◦National Flood Insurance Program (NFIP)

•State-provided reinsurance facilities

◦Michigan Catastrophic Claims Association (MCCA)

◦North Carolina Reinsurance Facility (NCRF)

◦Florida Hurricane Catastrophe Fund (FHCF)

•State-mandated involuntary plans

◦Commercial Automobile Insurance Procedures/Plans (CAIP)

Non-Regulated refers to voluntary external reinsurance. We do not reinsure our personal vehicle businesses. For our personal property business, we have both property catastrophic excess of loss and aggregate excess of loss

reinsurance agreements. In our Commercial Lines business, we reinsure certain of our TNC business and our Fleet & Specialty workers’ compensation insurance and commercial auto products under either a quota share reinsurance agreement or a combination of quota share and excess of loss agreements.

The increase in ceded written and earned premiums in our Regulated plans during 2024 was primarily due to increases in both rates and the number of policies ceded to the NCRF. The increase in Non-Regulated ceded written and earned premiums during 2024 primarily reflected renewing certain TNC programs for a 12-month policy term from the previous 6-month term, thus we wrote more direct premiums during 2024, compared to 2023, and, therefore, ceded more premiums than in the prior year.

Our reinsurance recoverables and prepaid reinsurance premiums were comprised of the following at December 31:


	Reinsurance Recoverables								Prepaid Reinsurance Premiums
($ in millions)	2024				2023				2024				2023
Regulated:
MCCA	$	2,381	50	%	$	2,272	45	%	$	29	9	%	$	40	16	%
CAIP	415		9		539		10		0		0		0		0
NFIP	361		8		11		0		69		20		67		27
NCRF	214		4		185		4		85		24		75		30
FHCF	169		3		306		6		0		0		0		0
Other	5		0		4		0		1		0		1		0
Total Regulated	3,545		74		3,317		65		184		53		183		73
Non-Regulated:
Commercial Lines	1,137		24		1,386		27		157		45		56		23
Personal property	78		2		381		8		8		2		11		4
Other	5		0		10		0		0		0		0		0
Total Non-Regulated	1,220		26		1,777		35		165		47		67		27
Total	$	4,765	100	%	$	5,094	100	%	$	349	100	%	$	250	100	%

The decrease in our Commercial Lines reinsurance recoverable in 2024, compared to 2023, was primarily due to a change in the reinsurance program structure of certain TNC products during 2023, whereby we wrote and ceded less premiums. In our personal property business, the decrease primarily reflected a reduction of our estimate of

the ultimate losses and allocated LAE on prior year storms, mainly related to Hurricane Ian. The current year storms also drove the increase in our reinsurance recoverable under the NFIP.

Our prepaid reinsurance premiums increased in 2024, primarily due to the TNC reinsurance program structure changes discussed above.

Reinsurance contracts do not relieve us from our obligations to policyholders. Failure of reinsurers to honor their obligations could result in losses to us. Our exposure to losses from the failure of Regulated plans is minimal since these plans are funded by the federal government or by mechanisms supported by insurance companies in applicable states. We evaluate the financial condition of our other reinsurers and monitor concentrations of credit risk to minimize our exposure to significant losses from reinsurer insolvencies.

For our Non-Regulated reinsurers, we routinely monitor changes in the credit quality and concentration risks of the reinsurers who are counterparties to our reinsurance recoverables to determine if an allowance for credit losses should be established. For at-risk uncollateralized recoverable balances, we evaluate several reinsurer specific factors, including reinsurer credit quality rating, credit rating outlook, historical experience, reinsurer surplus, recoverable duration, and collateralization composition in respect to our net exposure (i.e., the reinsurance recoverable amount less premiums payable to the reinsurer, where the right to offset exists). At December 31, 2024 and 2023, the allowance for credit losses related to these contracts was not material to our financial condition or results of operations.

Statutory Financial Information	12 Months Ended
Statutory Financial Information	Dec. 31, 2024
Statutory Financial Information Disclosures [Abstract]
Statutory Financial Information	STATUTORY FINANCIAL INFORMATION Consolidated statutory surplus was $27,171 million and $22,250 million at December 31, 2024 and 2023, respectively. Statutory net income was $7,670 million, $3,502 million, and $2,764 million for the years ended December 31, 2024, 2023, and 2022, respectively. At December 31, 2024, $1,650 million of consolidated statutory surplus represented net admitted assets of our insurance subsidiaries and affiliates that are required to meet minimum statutory surplus requirements in such entities’ states of domicile. The companies may be licensed in states other than their states of domicile, which may have higher minimum statutory surplus requirements. Generally, the net admitted assets of insurance companies that, subject to other applicable insurance laws and regulations, are available for transfer to the parent company cannot include the net admitted assets required to meet the minimum statutory surplus requirements of the states where the companies are licensed. During 2024, the insurance subsidiaries paid aggregate dividends of $3,667 million to their parent company. Based on the dividend laws currently in effect, the insurance subsidiaries could pay aggregate dividends of $7,021 million in 2025, without prior approval from regulatory authorities, subject to other potential state specific limitations, capital requirements, and restrictions on the amount of dividends that can be paid within a 12-month period by the applicable subsidiary.

Employee Benefit Plans

12 Months Ended

Dec. 31, 2024

Employee Benefit Plans Disclosures [Abstract]

Employee Benefit Plans

EMPLOYEE BENEFIT PLANS

Retirement Plans Progressive has a defined contribution pension plan (401(k) Plan) that covers employees who have been employed with the company for at least 30 days. Under Progressive’s 401(k) Plan, we match up to a maximum of 6% of an employee’s eligible compensation contributed to the plan, with employees vesting in the company match after providing two years of service. Matching contributions to the 401(k) Plan for the years ended December 31, 2024, 2023, and 2022, were $235 million, $206 million, and $180 million, respectively.

Employee and company matching contributions are invested, at the direction of the employee, in a number of investment options available under the plan, including various mutual funds, a self-directed brokerage option, and a Progressive common stock fund. Progressive’s common stock fund is an employee stock ownership program (ESOP) within the 401(k) Plan. At December 31, 2024, the ESOP held 17 million of our common shares, all of which are included in shares outstanding. Dividends on these shares are reinvested in common shares or paid out in cash,

at the election of the participant, and the related tax benefit is recorded as part of our tax provision.

Postemployment Benefits Progressive provides various postemployment benefits to former or inactive employees who meet eligibility requirements and to their beneficiaries and covered dependents. Postemployment benefits include salary continuation and disability-related benefits, including workers’ compensation and, if elected, continuation of health-care benefits for specified limited periods. The liability for these benefits was $21 million and $19 million at December 31, 2024 and 2023, respectively.

Incentive Compensation Plans – Employees Progressive’s incentive compensation programs include both non-equity incentive plans (cash) and equity incentive plans. Progressive’s cash incentive compensation includes an annual cash incentive program (Gainshare Program) for nearly all employees. Progressive’s equity incentive compensation plans provide for the granting of restricted stock unit awards to key members of management.

The amounts charged to expense for incentive compensation plans for the years ended December 31, were:


	2024				2023				2022
(millions)	Pretax		After Tax		Pretax		After Tax		Pretax		After Tax
Non-equity incentive plans – cash	$	1,040	$	822	$	897	$	709	$	381	$	301
Equity incentive plans1	122		105		121		104		123		107
1 After-tax amounts differ from the statutory rate of 21% due to the expected disallowance of certain executive compensation deductions.

Progressive’s 2024 Equity Incentive Plan (2024 Plan), which provides for the granting of equity-based compensation to officers and other key employees, authorized awards of just over 10 million shares for issuance, in the aggregate, which includes 4 million shares previously authorized under the 2015 Equity Incentive Plan (2015 Plan). The 2024 Plan was approved by our shareholders in May 2024 and replaced the 2015 Plan. At December 31, 2024, there were 3.5 million shares remaining in the 2015 Plan to satisfy awards previously issued under that plan and representing the maximum potential payout of performance-based awards outstanding. No further grants will be made under the 2015 Plan.

The restricted equity awards are issued as either time-based or performance-based awards. Generally, equity awards are expensed pro rata over their respective vesting periods (i.e., requisite service period), based on the market value of the awards at the time of grant, with accelerated expense for participants who satisfy qualified retirement eligibility. The time-based awards vest in equal installments upon the lapse of specified periods of time, typically three, four, and five years, subject to the retirement provisions of the applicable award agreements.

Performance-based awards that contain variable vesting criteria are expensed based on management’s expectation of the percentage of the award, if any, that will ultimately vest. These estimates can change periodically throughout the measurement period. Vesting of performance-based awards is contingent upon the achievement of predetermined performance goals within specified time periods.

In addition to their time-based awards, performance-based awards are granted to executives and other senior managers to provide additional incentive to achieve pre-established profitability and growth targets and/or relative investment performance. The targets for the performance-based awards, as well as the number of units that ultimately may vest, vary by grant.

The following shows the performance measurement criteria for our performance-based restricted equity awards outstanding at December 31, 2024:


Performance Measurement	Year(s) of Grant	Vesting range (as a percentage of target)
Growth of our personal auto and commercial auto businesses, both compared to its respective market	2023-2024	0-250%
Growth of our personal auto and commercial auto businesses and homeowners multi-peril business, each compared to its respective market	2022	0-250%
Investment results relative to peer group	2024	0-250%
Investment results relative to peer group	2022-2023	0-200%

All restricted equity awards are settled at or after vesting in Progressive common shares from existing treasury shares on a one-to-one basis.

A summary of all employee restricted equity award activity during the years ended December 31, follows:


	2024			2023			2022
Restricted Equity Awards	Number of Shares1	Weighted Average Grant Date Fair Value		Number of Shares1	Weighted Average Grant Date Fair Value		Number of Shares1	Weighted Average Grant Date Fair Value
Beginning of year	2,893,742	$	101.18	3,198,150	$	81.71	3,539,022	$	67.24
Add (deduct):
Granted2	826,377	160.13		1,080,658	110.93		1,154,838	96.54
Vested	(1,186,442)	81.84		(1,338,466)	63.10		(1,378,070)	57.79
Forfeited	(28,015)	111.35		(46,600)	84.86		(117,640)	72.44
End of year3,4	2,505,662	$	129.66	2,893,742	$	101.18	3,198,150	$	81.71

1 Includes restricted stock units. All performance-based awards are included at their target amounts.

2 We reinvest dividend equivalents on restricted stock units. For 2024, 2023, and 2022, the number of units “granted” shown in the table above includes 23,153, 36,656, and 44,327 of dividend equivalent units, respectively, at a weighted average grant date fair value of $0, since the dividends were factored into the grant date fair values of the original grants.

3 At December 31, 2024, the number of shares included 447,819 performance-based restricted stock units at their target amounts. We expect 859,619 units to vest based upon our current estimates of the likelihood of achieving the predetermined performance measures applicable to each award.

4 At December 31, 2024, the total unrecognized compensation cost related to unvested restricted equity awards was $94 million, which includes performance-based awards at their currently estimated vesting value. This compensation expense will be recognized into our consolidated statements of comprehensive income over the weighted average vesting period of 2.3 years.

The aggregate fair value of the restricted equity awards that vested during the years ended December 31, 2024, 2023, and 2022, was $226 million, $195 million, and $154 million, respectively, based on the actual stock price on the applicable vesting dates.

Incentive Compensation Plans – Directors Progressive’s Amended and Restated 2017 Directors Equity Incentive Plan, which was approved by shareholders in 2022, provides for the granting of equity-based awards, including restricted stock awards, to non-employee directors. Under the amended and restated plan, an additional 150,000 shares are eligible to be granted, bringing the total authorized shares under the directors plan to 650,000 shares.

The Progressive Corporation permits each non-employee director to indicate a preference to receive either 100% of their compensation in the form of a restricted stock award

or 60% in the form of a restricted stock award and 40% in the form of cash. If the director does not state a preference, it is presumed that they preferred to receive 100% of their compensation in the form of restricted stock. The Compensation and Talent Committee of the Board of Directors will consider such preferences when making a determination with respect to the allocation (restricted stock, or restricted stock and cash) and approval of the annual awards for each non-employee director.

The restricted stock awards are issued as time-based awards. The vesting period is typically 11 months from the date of each grant. To the extent a director is newly appointed during the year, or a director’s committee assignments change, the vesting period may be shorter. Both the restricted stock awards and cash, if elected, may be expensed pro rata over their respective vesting periods based on the market value of the awards at the time of grant.

A summary of all directors’ restricted stock activity during the years ended December 31, follows:


	2024			2023			2022
Restricted Stock	Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value
Beginning of year	25,075	$	133.43	30,439	$	109.75	29,206	$	105.16
Add (deduct):
Granted	15,553	215.77		25,075	133.43		30,439	109.75
Vested1	(25,979)	136.29		(30,439)	109.75		(29,206)	105.16
End of year2	14,649	$	215.77	25,075	$	133.43	30,439	$	109.75

1 In 2024, 904 shares granted in 2024 vested upon the disability of a director, pursuant to the terms of the plan.

2 The remaining unrecognized compensation cost was $1 million at December 31, 2024, 2023, and 2022.

The aggregate fair value of the restricted stock vested during the years ended December 31, 2024, 2023, and 2022, was $5 million, $4 million, and $3 million, respectively, based on the actual stock price at time of vesting.

Deferred Compensation The Progressive Corporation Executive Deferred Compensation Plan (Deferral Plan) permits eligible Progressive executives to defer receipt of some or all of their annual cash incentive payments and all of their annual equity awards. Deferred cash compensation is deemed invested in one or more investment funds, including Progressive common shares, offered under the Deferral Plan and elected by the participant. All Deferral Plan distributions attributable to deferred cash compensation will be paid in cash.

For equity awards deferred pursuant to the Deferral Plan, the deferred amounts are deemed invested in our common shares and are ineligible for transfer to other investment

funds in the Deferral Plan; distributions of these deferred awards will be made in Progressive common shares. We reserved 11 million of our common shares for issuance under the Deferral Plan.

An irrevocable grantor trust has been established to provide a source of funds to assist us in meeting our liabilities under the Deferral Plan. The Deferral Plan Irrevocable Grantor Trust account held the following assets at December 31:


(millions)	2024		2023
Progressive common shares1	$	117	$	119
Other investment funds2	176		165
Total	$	293	$	284

1 Included 1,138,191 and 1,551,846 common shares as of December 31, 2024 and 2023, respectively, to be distributed in common shares, and are reported at grant date fair value.

2 Amount is included in other assets on our consolidated balance sheets.

Segment Information

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

We write personal and commercial auto insurance, personal residential property insurance, business-related general liability and commercial property insurance predominantly for small businesses, workers’ compensation insurance primarily for the transportation industry, and other specialty property-casualty insurance and provide related services throughout the United States.

Our operating segments are Personal Lines and Commercial Lines, which we report based on product. Our Chief Executive Officer assesses performance and makes key operating decisions for each of our reportable operating segments and, therefore, is considered our chief operating decision maker.

Our Personal Lines segment writes insurance for personal autos, special lines products (e.g., recreational vehicles, such as motorcycles, RVs, and watercraft), personal residential property insurance for homeowners and renters, umbrella insurance, and flood insurance through the “Write Your Own” program for the National Flood Insurance Program. Beginning in the fourth quarter 2024, our personal property products are reported along with our personal vehicle products as part of our Personal Lines operating segment. Property information for 2023 and 2022 was recast to conform to the current year presentation.

The Personal Lines segment is written through both the independent agency and direct channels. The agency channel includes business written by our network of more than 40,000 independent insurance agencies, including brokerages in New York and California, and strategic alliance business relationships (including other insurance companies, financial institutions, and national agencies). The direct channel includes business written directly by us online or by phone. We operate this segment throughout the United States.

Our Commercial Lines segment writes auto-related liability and physical damage insurance, business-related general liability and commercial property insurance predominately for small businesses, and workers’ compensation insurance primarily for the transportation industry. This segment operates throughout the United States and is distributed through both the independent agency, including brokerages, and direct channels.

We evaluate operating segment profitability based on pretax underwriting profit (loss). Pretax underwriting profit (loss) is calculated as net premiums earned plus fees and other revenues, less: (i) losses and loss adjustment expenses; (ii) policy acquisition costs; and (iii) other underwriting expenses.

Our service businesses provide insurance-related services, including serving as an agent for homeowners, general liability, and workers’ compensation insurance, among other products, through programs in our direct Personal Lines and Commercial Lines businesses. Pretax profit (loss) is the difference between service business revenues and service business expenses.

Assets and income taxes are not allocated to operating segments, as such allocation would be impractical. Expense allocations are based on certain assumptions and estimates primarily related to revenue and volume; stated segment operating results would change if different methods were applied. We also do not separately identify depreciation expense by segment. Companywide depreciation expense for 2024, 2023, and 2022, was $284 million, $285 million, and $306 million, respectively. The accounting policies of the operating segments are consistent with those described in Note 1 – Reporting and Accounting Policies.

Operating segment results for the years ended December 31, were as follows:


(millions)	Personal Lines		Commercial Lines		Other1		Companywide
December 31, 2024
Net premiums earned	$	60,091	$	10,707	$	1	$	70,799
Fees and other revenues	893		171		0		1,064
Total underwriting revenue	60,984		10,878		1		71,863
Losses and loss adjustment expenses:
Losses (excluding catastrophe losses)	33,684		6,421		10		40,115
Catastrophe losses	2,434		80		0		2,514
Loss adjustment expenses	5,325		1,109		(3)		6,431
Total losses and loss adjustment expenses	41,443		7,610		7		49,060
Underwriting expenses:
Distribution expenses2	7,969		1,168		1		9,138
Other underwriting expenses3	4,732		964		11		5,707
Total underwriting expenses	12,701		2,132		12		14,845
Pretax underwriting profit (loss)	$	6,840	$	1,136	$	(18)	7,958
Investment profit (loss)4							3,067
Service businesses							(33)
Interest expense							(279)
Total pretax profit (loss)							$	10,713


(millions)	Personal Lines		Commercial Lines		Other1		Total
December 31, 2023
Net premiums earned	$	48,765	$	9,899	$	1	$	58,665
Fees and other revenues	740		149		0		889
Total underwriting revenue	49,505		10,048		1		59,554
Losses and loss adjustment expenses:
Losses (excluding catastrophe losses)	31,509		6,866		3		38,378
Catastrophe losses	1,753		41		0		1,794
Loss adjustment expenses	4,487		993		3		5,483
Total losses and loss adjustment expenses	37,749		7,900		6		45,655
Underwriting expenses:
Distribution expenses2	4,904		1,073		1		5,978
Other underwriting expenses3	3,967		952		10		4,929
Total underwriting expenses	8,871		2,025		11		10,907
Pretax underwriting profit (loss)	$	2,885	$	123	$	(16)	2,992
Investment profit (loss)4							2,219
Service businesses							(39)
Interest expense							(268)
Total pretax profit (loss)							$	4,904


(millions)	Personal Lines		Commercial Lines		Other1		Total
December 31, 2022
Net premiums earned	$	40,150	$	9,088	$	3	$	49,241
Fees and other revenues	594		128		0		722
Total underwriting revenue	40,744		9,216		3		49,963
Losses and loss adjustment expenses:
Losses (excluding catastrophe losses)	26,158		5,669		3		31,830
Catastrophe losses	1,626		34		0		1,660
Loss adjustment expenses	3,788		842		3		4,633
Total losses and loss adjustment expenses	31,572		6,545		6		38,123
Underwriting expenses:
Distribution expenses2	4,699		1,000		1		5,700
Other underwriting expenses3	3,208		861		7		4,076
Total underwriting expenses	7,907		1,861		8		9,776
Pretax underwriting profit (loss)5	$	1,265	$	810	$	(11)	2,064
Investment profit (loss)4							(676)
Service businesses							3
Interest expense							(244)
Goodwill impairment5							(225)
Total pretax profit (loss)							$	922

NA = Not applicable.

1 Includes other underwriting businesses and run-off operations.

2 Includes policy acquisition costs, agents’ contingent commissions, and advertising costs attributable to our operating segments. A portion of our companywide advertising costs are also related to our service businesses.

3 Primarily consists of employee compensation and benefit costs, and the increase in the allowance for credit loss exposure on our premiums receivable.

4 Calculated as recurring investment income plus total net realized gains (losses) on securities, less investment expenses.

5 Including the goodwill impairment, the total pretax profit (loss) for the Personal Lines segment was $1,040 million for 2022.

The reconciliation of total underwriting revenues to consolidated revenues for the years ended December 31, were as follows:


(millions)	2024		2023		2022
Total underwriting revenue	$	71,863	$	59,554	$	49,963
Investment income	2,832		1,892		1,260
Total net realized gains (losses) on securities	264		353		(1,912)
Service revenues	413		310		300
Total revenues	$	75,372	$	62,109	$	49,611

Our management uses underwriting margin and combined ratio as primary measures of underwriting profitability, as defined above. The underwriting margin is the pretax underwriting profit (loss) expressed as a percentage of net premiums earned (i.e., revenues from underwriting operations). Combined ratio is the complement of the underwriting margin. Fees and other revenues are netted against either loss adjustment expenses or underwriting expenses in the ratio calculations, based on the underlying activity that generated the revenue. Following are the underwriting margins and combined ratios for our underwriting operations for the years ended December 31:


	2024			2023			2022
	Underwriting Margin		Combined Ratio	Underwriting Margin		Combined Ratio	Underwriting Margin		Combined Ratio
Personal Lines	11.4	%	88.6	5.9	%	94.1	3.2	%	96.8
Commercial Lines	10.6		89.4	1.2		98.8	8.9		91.1
Total underwriting operations	11.2		88.8	5.1		94.9	4.2		95.8

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Other Comprehensive Income (Loss)

Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

OTHER COMPREHENSIVE INCOME (LOSS)

The components of other comprehensive income (loss), including reclassification adjustments by income statement line item, for the years ended December 31, were as follows:


							Components of Changes in Accumulated Other Comprehensive Income (after tax)
(millions)	Pretax total accumulated other comprehensive income (loss)		Total tax (provision) benefit		After tax total accumulated other comprehensive income (loss)		Total net unrealized gains (losses) on securities		Net unrealized gains (losses) on forecasted transactions		Foreign currency translation adjustment
Balance at December 31, 2023	$	(2,053)	$	437	$	(1,616)	$	(1,601)	$	(14)	$	(1)
Other comprehensive income (loss) before reclassifications:
Investment securities	(197)		41		(156)		(156)		0		0

Total other comprehensive income (loss) before reclassifications	(197)		41		(156)		(156)		0		0
Less: Reclassification adjustment for amounts realized in net income by income statement line item:
Net impairment losses recognized in earnings	(1)		0		(1)		(1)		0		0
Net realized gains (losses) on securities	(440)		92		(348)		(348)		0		0

Total reclassification adjustment for amounts realized in net income	(441)		92		(349)		(349)		0		0
Total other comprehensive income (loss)	244		(51)		193		193		0		0
Balance at December 31, 2024	$	(1,809)	$	386	$	(1,423)	$	(1,408)	$	(14)	$	(1)


							Components of Changes in Accumulated Other Comprehensive Income (after tax)
(millions)	Pretax total accumulated other comprehensive income (loss)		Total tax (provision) benefit		After tax total accumulated other comprehensive income (loss)		Total net unrealized gains (losses) on securities		Net unrealized gains (losses) on forecasted transactions		Foreign currency translation adjustment
Balance at December 31, 2022	$	(3,557)	$	755	$	(2,802)	$	(2,787)	$	(14)	$	(1)
Other comprehensive income (loss) before reclassifications:
Investment securities	1,257		(266)		991		991		0		0
Total other comprehensive income (loss) before reclassifications	1,257		(266)		991		991		0		0
Less: Reclassification adjustment for amounts realized in net income by income statement line item:
Net realized gains (losses) on securities	(247)		52		(195)		(195)		0		0
Total reclassification adjustment for amounts realized in net income	(247)		52		(195)		(195)		0		0
Total other comprehensive income (loss)	1,504		(318)		1,186		1,186		0		0
Balance at December 31, 2023	$	(2,053)	$	437	$	(1,616)	$	(1,601)	$	(14)	$	(1)


							Components of Changes in Accumulated Other Comprehensive Income (after tax)
(millions)	Pretax total accumulated other comprehensive income (loss)		Total tax (provision) benefit		After tax total accumulated other comprehensive income (loss)		Total net unrealized gains (losses) on securities		Net unrealized gains (losses) on forecasted transactions		Foreign currency translation adjustment
Balance at December 31, 2021	$	52	$	(11)	$	41	$	56	$	(14)	$	(1)
Other comprehensive income (loss) before reclassifications:
Investment securities	(4,169)		879		(3,290)		(3,290)		0		0

Total other comprehensive income (loss) before reclassifications	(4,169)		879		(3,290)		(3,290)		0		0
Less: Reclassification adjustment for amounts realized in net income by income statement line item:
Net realized gains (losses) on securities	(560)		113		(447)		(447)		0		0

Total reclassification adjustment for amounts realized in net income	(560)		113		(447)		(447)		0		0
Total other comprehensive income (loss)	(3,609)		766		(2,843)		(2,843)		0		0
Balance at December 31, 2022	$	(3,557)	$	755	$	(2,802)	$	(2,787)	$	(14)	$	(1)

In an effort to manage interest rate risk, we entered into forecasted transactions on Progressive’s debt issuances. During the next 12 months, we expect to reclassify less than $1 million (pretax) into interest expense, related to net unrealized losses on forecasted transactions (see Note 4 – Debt for further discussion).

Litigation	12 Months Ended
Litigation	Dec. 31, 2024
Litigation Disclosures [Abstract]
Litigation	LITIGATION The Progressive Corporation and/or its insurance subsidiaries are named as defendants in various lawsuits arising out of claims made under insurance policies written by our insurance subsidiaries in the ordinary course of business. We consider all legal actions relating to such claims in establishing our loss and loss adjustment expense reserves. In addition, The Progressive Corporation and/or its insurance subsidiaries are named as defendants in a number of class action or individual lawsuits that challenge certain of the operations of the subsidiaries. We describe litigation contingencies for which a loss is probable. We also describe litigation contingencies for which a loss is reasonably possible (but not probable). When disclosing reasonably possible litigation contingencies, we will disclose the amount or range of possible loss, if we are able to make that determination and if material. We may also be exposed to litigation contingencies that are remote. Remote litigation contingencies are those for which the likelihood of a loss is slight at the balance sheet date. We do not disclose, or establish accruals for, remote litigation contingencies. See Note 1 – Reporting and Accounting Policies, Litigation Reserves for a discussion of our litigation reserving policy. Each year, certain of our pending litigation matters may be brought to conclusion. Settlements that are complete are fully reflected in our financial statements. The amounts accrued and/or paid for settlements during the periods presented were not material to our consolidated financial condition, cash flows, or results of operations. The pending lawsuits summarized below are in various stages of development, and the outcomes are uncertain until final disposition or, if probable and estimable, are accrued and immaterial as of December 31, 2024. At year end 2024, except to the extent an immaterial accrual has been established, we do not consider the losses from these pending cases to be both probable and estimable, and we are unable to estimate a range of loss at this time. It is not possible to determine loss exposure for a number of reasons, including, without limitation, one or more of the following: •liability appears to be remote; •putative class action lawsuits generally pose immaterial exposure until a class is actually certified, which, historically, has not been granted by courts in the vast majority of our cases in which class certification has been sought; •even certified class action lawsuits are subject to decertification, denial of liability, and/or appeal; •class definitions are often indefinite and preclude detailed exposure analysis; and •complaints rarely state an amount sought as relief, and when such amount is stated, it often is a function of pleading requirements and may be unrelated to the potential exposure. We plan to contest these suits vigorously, but may pursue settlement negotiations in some cases, as we deem appropriate. In the event that any one or more of these cases results in a substantial judgment against us, or settlement by us, or if our accruals (if any) prove to be inadequate, the resulting liability could have a material adverse effect on our consolidated financial condition, cash flows, and/or results of operations. Lawsuits arising from insurance policies and operations, including but not limited to allegations involving claims adjustment and vehicle valuation, may be filed contemporaneously in multiple states. As of December 31, 2024, we are named as defendants in class action lawsuits pending in multiple states alleging that we improperly value total loss vehicle physical damage claims through the application of a negotiation adjustment in calculating such valuations. This includes nine states in which classes have been certified, and lawsuits styled as putative class actions pending in additional states. These lawsuits, which were filed at different times by different plaintiffs, feature certain similar claims and also include different allegations and are subject to various state laws. While we believe we have meritorious defenses and we are vigorously contesting these lawsuits, an unfavorable result in, or a settlement of, a significant number of these lawsuits could, in aggregation, have a material adverse effect on our financial condition, cash flows, and/or results of operations. Based on information available to us, we determined that losses from these lawsuits are reasonably possible but neither probable nor reasonably estimable, other than for suits for which accruals have been established and are not material, as of December 31, 2024. At December 31, 2024, the pending lawsuits summarized below, including those discussed above, are in various stages of development, and the outcomes are uncertain until final disposition or, if probable and estimable, are accrued and immaterial: Lawsuits seeking class/collective action status alleging that: •we improperly handle, adjust, and pay physical damage claims, including how we value total loss claims, the application of a negotiation adjustment in calculating total loss valuations, the payment of fees and taxes associated with total losses, and the payment of diminution of value damages. •we improperly adjust personal injury protection (PIP) claims in Florida. •we improperly adjust medical bills submitted by insureds or medical providers in medical claims. •we improperly pay and reimburse Medicare Advantage Plans or Medicaid on first party medical, PIP, and bodily injury claims. •we sell illusory uninsured and/or underinsured motorist coverage. •we wrongfully withheld or delayed payments owed to insureds under uninsured/underinsured motorist coverage. •we provided an insufficient amount of premium relief to California insureds in response to the COVID-19 pandemic. •we improperly use marital status as a rating factor when setting premium in California. •we fail to timely and fully refund premiums to insureds upon taking title to vehicles that have been deemed total losses. •we mistitle vehicles by failing to include a salvage designation. •we improperly pay post-arbitration award interest. •we improperly funded a grant program for small businesses. •we improperly raised insureds’ premiums during their current policy term. •we improperly restrict the sale of optional physical damage coverage during weather-related events. •we improperly communicate with insureds regarding payments during prohibited hours in Florida. •we improperly share claimants’ contact information with a third party. •we improperly fail to timely process and pay PIP claims in Texas. •we improperly impose surcharges on employees in violation of the Employee Retirement Income Security Act of 1974 (ERISA). Lawsuits certified or conditionally certified as class/collective actions alleging that: •we improperly value total loss claims by applying a negotiation adjustment in Alabama, Arkansas, Colorado, Georgia, Indiana, New York, Ohio, Pennsylvania, and South Carolina. •we improperly fail to pay fees and taxes associated with total losses in Michigan and New York. •we improperly calculate basic economic loss as it relates to wage loss coverage in New York. •we improperly reduce or deny PIP benefits when medical expenses are paid initially by health insurance in Arkansas. •we sell illusory underinsured motorist coverage in New Mexico. •we failed, based on a vendor data security incident, to properly secure and safeguard personally identifiable information. Non-class/collective/representative lawsuits filed by different plaintiffs and subject to various state laws, alleging that certain business operations, commercial matters, and/or employment policies, practices, or decisions are improper.

Leases

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Leases

LEASES

Included in our consolidated balance sheets are certain operating leases for office space, computer equipment, and vehicles. The leased assets represent our right to use an underlying asset for the lease term and the lease liabilities represent our obligation to make lease payments arising from the lease using an incremental borrowing rate to calculate the present value of the remaining lease payments. Leased assets and leased liabilities are reported as a component of other assets and accounts payable, accrued expenses, and other liabilities, respectively, in our consolidated balance sheets.

Contracts are reviewed at inception to determine if it contains a lease and whether the lease qualifies as an operating or financing lease. We do not have material financing leases.

Operating leases are expensed on a straight-line basis over the term of the lease. In determining the lease term, we consider the probability of exercising renewal options. We elected to account for leases with both lease and non-lease components as a single lease component and to apply a portfolio approach to account for our vehicle leases.

The following table summarizes the carrying amounts of our operating leased assets and liabilities at December 31, along with key inputs used to discount our lease liabilities:


($ in millions)	2024			2023
Operating lease assets	$	193		$	173
Operating lease liabilities	$	196		$	177
Weighted-average remaining term	3.7 years			3.2 years
Weighted-average discount rate	5.1		%	5.1		%

At December 31, 2024, the following table shows our operating lease liabilities, on an undiscounted basis for the periods indicated:


(millions)	Commitments
2025	$	81
2026	63
2027	32
2028	19
2029	13
Thereafter	5
Total	213
Interest	(17)
Present value of lease liabilities	$	196

The operating lease expense for the years ended December 31, was as follows:


(millions)	Expense
2024	$	104
2023	94
2022	89

Dividends

12 Months Ended

Dec. 31, 2024

Dividends [Abstract]

Dividends

DIVIDENDS

Following is a summary of our common and preferred share dividends that were declared and/or paid in the last three years:


(millions, except per share amounts)		Amount
Declared	Payable	Per Share		Accrued/Paid1
Common – Annual-Variable Dividends:
December 2024	January 2025	$	4.50	$	2,637
December 2023	January 2024	0.75		439

Common – Quarterly Dividends:
December 2024	January 2025	0.10		58
August 2024	October 2024	0.10		59
May 2024	July 2024	0.10		58
March 2024	April 2024	0.10		59
December 2023	January 2024	0.10		59
August 2023	October 2023	0.10		58
May 2023	July 2023	0.10		59
March 2023	April 2023	0.10		59
December 2022	January 2023	0.10		58
August 2022	October 2022	0.10		58
May 2022	July 2022	0.10		59
March 2022	April 2022	0.10		59
December 2021	January 2022	0.10		58

Preferred Dividends:
January 2024	February 2024	15.688377		8
October 2023	December 2023	20.753157		10
August 2023	September 2023	20.67700		10
May 2023	June 2023	18.92463		10
December 2022	March 2023	26.875		13
August 2022	September 2022	26.875		14
December 2021	March 2022	26.875		13

1 The accrual is based on an estimate of shares outstanding as of the record date and recorded as a component of accounts payable, accrued expenses, and other liabilities on our consolidated balance sheets until paid.

Common Share Dividends The Board of Directors adopted a policy of declaring regular quarterly common share dividends, and on at least an annual basis, to consider declaring an additional, variable common share dividend. For 2022, the Board decided not to declare an annual-variable dividend after assessing our capital position, existing capital resources, and expected future capital needs.

Preferred Share Dividends During 2024, we redeemed all of the previously issued 500,000 Series B Fixed-to-Floating Rate Cumulative Perpetual Serial Preferred Shares, without par value (the Series B Preferred Shares),

at the stated liquidation preference of $1,000 per share, for an aggregate payout of $508 million, including accrued and unpaid dividends of $8 million through, but excluding February 22, 2024, which was the redemption date.

Beginning March 15, 2023 and until redemption, holders of the Series B Preferred Shares were entitled to receive cumulative cash dividends quarterly at a floating dividend rate. Prior to March 15, 2023, dividends were payable semiannually at a fixed annual dividend rate. Cash dividends were payable if and when declared by the Board of Directors.

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income	$ 8,480	$ 3,903	$ 722

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Insider Trading Arrangements

3 Months Ended

12 Months Ended

Dec. 31, 2024

Non-Rule 10b5-1 Arrangement Adopted

false

Rule 10b5-1 Arrangement Terminated

false

Non-Rule 10b5-1 Arrangement Terminated

false

Patrick K. Callahan [Member]

Rule 10b5-1 Arrangement Adopted

Name

Patrick K. Callahan

Title

Personal Lines President

true

Adoption Date

November 18, 2024

Expiration Date

October 1, 2025

Arrangement Duration

317 days

Jonathan S. Bauer [Member]

Rule 10b5-1 Arrangement Adopted

Name

Jonathan S. Bauer

Title

Chief Investment Officer

true

Adoption Date

November 18, 2024

Expiration Date

September 2, 2025

Arrangement Duration

288 days

Officer Trading Arrangement [Member]

Material Terms of Trading Arrangement

During the fourth quarter 2024, certain executive officers entered into Rule 10b5-1 trading arrangements that are intended to satisfy the affirmative defense of Rule 10b5-1(c). The executive officers’ plans provide for the sale of all of the shares issued upon vesting for certain outstanding equity awards previously granted to the applicable executive officer, excluding any shares withheld by the company to satisfy tax withholding obligations (see our Proxy Statement, as defined below, for a description of the company’s equity compensation plans).

Below are the details of each applicable Rule 10b5-1 trading arrangement:


Name	Title	Date Entered	Date Expires1
Officers
Jonathan S. Bauer	Chief Investment Officer	November 18, 2024	September 2, 2025
Patrick K. Callahan	Personal Lines President	November 18, 2024	October 1, 2025

1 Subject to the plan’s earlier expiration or completion in accordance with its terms.

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Our business requires that we develop and maintain large and complex technology systems, and that we rely on third-party systems and applications, to run our operations and to store the significant volume of data and information that we acquire, including the personal information of our customers and employees and our intellectual property, trade secrets, and other sensitive business and financial information. Our overall efforts to safeguard the information systems and confidential information critical to our operations include preventative and detective internal processes, technological defenses, and other controls designed to provide multiple layers of security protection. Our information security efforts are designed to evolve with the changing security threat environment through ongoing assessment and measurement. In our efforts to keep our data and technology systems secure, we leverage both the International Organization for Standardization (ISO) 27002 Security Framework for the body of security control requirements and the National Institute of Standards and Technology Cybersecurity Framework to assess the strength of our processes and defenses. This integrated approach to protect data and information systems is also built into our project management, development, and operations. To assess the effectiveness of our cybersecurity program and compliance with applicable rules, regulations, and laws, we employ a variety of internal resources to evaluate our environment, information systems, and processes. In addition, we engage third parties to test the vulnerability of our cybersecurity infrastructure on a regular basis and we have a third-party assessment performed annually. Through appropriate risk evaluation, security assessments, and financial due diligence, we seek to protect the security and confidentiality of information provided to our vendors under service provider cloud computing or other arrangements. We also employ contractual nondisclosure requirements and use limitations consistent with our published Privacy Policy, and typically reserve the right to review third-party compliance against the required standards, where we deem appropriate. Our response to cybersecurity threats is triggered through various means. Through annual user awareness training, we teach our employees to identify and appropriately respond to such threats. Our incident response program is designed to mitigate and recover from suspected and actual cybersecurity incidents and provide all required consumer and regulatory notices regarding cybersecurity threats in a timely manner.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Our overall efforts to safeguard the information systems and confidential information critical to our operations include preventative and detective internal processes, technological defenses, and other controls designed to provide multiple layers of security protection. Our information security efforts are designed to evolve with the changing security threat environment through ongoing assessment and measurement. In our efforts to keep our data and technology systems secure, we leverage both the International Organization for Standardization (ISO) 27002 Security Framework for the body of security control requirements and the National Institute of Standards and Technology Cybersecurity Framework to assess the strength of our processes and defenses. This integrated approach to protect data and information systems is also built into our project management, development, and operations. To assess the effectiveness of our cybersecurity program and compliance with applicable rules, regulations, and laws, we employ a variety of internal resources to evaluate our environment, information systems, and processes. In addition, we engage third parties to test the vulnerability of our cybersecurity infrastructure on a regular basis and we have a third-party assessment performed annually.
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	Our Chief Security Officer (CSO) is ultimately responsible for cybersecurity at Progressive, with management oversight of the prevention, detection, mitigation, and remediation of cybersecurity incidents. The CSO reports directly to the Chief Financial Officer and provides regular cybersecurity updates to the CEO, other members of the executive team, and the Board of Directors’ Technology Committee. Assuming the role in 2012, our CSO has served in this capacity at Progressive for more than a decade and, prior to joining us in 2010, had over 10 years of cybersecurity experience in the banking industry in security and risk management leadership roles, primarily focused on cybersecurity and banking compliance, with additional experience in the areas of anti-money laundering and financial fraud. Our CSO is also a member of our Management Risk Committee, which leads our Enterprise Risk Management program, and as a member ensures that cybersecurity risks remain a focus of the overall risk management process. The Technology Committee of the Board of Directors oversees our use of technology in business strategy as well as the major risks arising from our technology, digital and data strategies, legacy information systems, technology investments, data privacy, operational performance, cybersecurity programs, and technology-related business continuity and disaster recovery programs. The Technology Committee, which includes directors with technology experience, also oversees management’s effort to mitigate these risks. Technology Committee meetings typically occur five times a year. Generally, at these meetings, our CSO briefs the committee on cybersecurity-related matters. Our systems are being threatened by cybersecurity incidents on a regular basis and our efforts may be insufficient to prevent or defend against incidents or an attack. We, and certain of our third-party vendors, have experienced attacks and incidents in the past, and there can be no assurance that we, or any vendor, will be successful in preventing future attacks or incidents or detecting and stopping them once they have begun. Through the date hereof, risks from cybersecurity threats, including prior incidents and attacks, have not materially affected, and we do not believe are reasonably likely to materially affect, our business strategy, results of operations, or financial condition. However, we cannot guarantee that we will not be materially affected in the future. Cybersecurity risks evolve rapidly and are complex, so we must continually adapt and enhance our processes and defenses. As we do this, we must make judgments about where to invest resources to most effectively protect ourselves from cybersecurity risks. These are inherently challenging processes, and we can provide no assurance that processes and defenses that we implement will be effective. See Item 1A, Risk Factors – III. Operating Risks above for more information.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	The Technology Committee of the Board of Directors oversees our use of technology in business strategy as well as the major risks arising from our technology, digital and data strategies, legacy information systems, technology investments, data privacy, operational performance, cybersecurity programs, and technology-related business continuity and disaster recovery programs. The Technology Committee, which includes directors with technology experience, also oversees management’s effort to mitigate these risks. Technology Committee meetings typically occur five times a year. Generally, at these meetings, our CSO briefs the committee on cybersecurity-related matters.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Through appropriate risk evaluation, security assessments, and financial due diligence, we seek to protect the security and confidentiality of information provided to our vendors under service provider cloud computing or other arrangements. We also employ contractual nondisclosure requirements and use limitations consistent with our published Privacy Policy, and typically reserve the right to review third-party compliance against the required standards, where we deem appropriate. Our response to cybersecurity threats is triggered through various means. Through annual user awareness training, we teach our employees to identify and appropriately respond to such threats. Our incident response program is designed to mitigate and recover from suspected and actual cybersecurity incidents and provide all required consumer and regulatory notices regarding cybersecurity threats in a timely manner.
Cybersecurity Risk Role of Management [Text Block]	Our Chief Security Officer (CSO) is ultimately responsible for cybersecurity at Progressive, with management oversight of the prevention, detection, mitigation, and remediation of cybersecurity incidents. The CSO reports directly to the Chief Financial Officer and provides regular cybersecurity updates to the CEO, other members of the executive team, and the Board of Directors’ Technology Committee.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Assuming the role in 2012, our CSO has served in this capacity at Progressive for more than a decade and, prior to joining us in 2010, had over 10 years of cybersecurity experience in the banking industry in security and risk management leadership roles, primarily focused on cybersecurity and banking compliance, with additional experience in the areas of anti-money laundering and financial fraud. Our CSO is also a member of our Management Risk Committee, which leads our Enterprise Risk Management program, and as a member ensures that cybersecurity risks remain a focus of the overall risk management process.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	The Technology Committee of the Board of Directors oversees our use of technology in business strategy as well as the major risks arising from our technology, digital and data strategies, legacy information systems, technology investments, data privacy, operational performance, cybersecurity programs, and technology-related business continuity and disaster recovery programs. The Technology Committee, which includes directors with technology experience, also oversees management’s effort to mitigate these risks. Technology Committee meetings typically occur five times a year. Generally, at these meetings, our CSO briefs the committee on cybersecurity-related matters.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Reporting and Accounting Policies (Policies)	12 Months Ended
Reporting and Accounting Policies (Policies)	Dec. 31, 2024
Accounting Policies [Abstract]
Nature of Operations	Nature of Operations The Progressive insurance organization began business in 1937. The financial results of The Progressive Corporation include its subsidiaries and affiliates (references to “subsidiaries” in these notes include affiliates as well). Our insurance subsidiaries write personal and commercial auto insurance, personal residential property insurance, business-related general liability and commercial property insurance predominantly for small businesses, workers’ compensation insurance primarily for the transportation industry, and other specialty property-casualty insurance and provide related services. We report two operating segments. Our Personal Lines segment writes insurance for personal autos and special lines products (i.e., recreational vehicles), collectively referred to as our personal vehicle business, and, beginning in the fourth quarter 2024, personal residential property insurance for homeowners and renters. Our Commercial Lines segment writes auto-related liability and physical damage insurance, business-related general liability and commercial property insurance predominately for small businesses, and workers’ compensation insurance primarily for the transportation industry. We operate our businesses throughout the United States, through both the independent agency and direct channels.
Basis of Consolidation and Reporting	Basis of Consolidation and Reporting The accompanying consolidated financial statements include the accounts of The Progressive Corporation and our wholly owned insurance and non-insurance subsidiaries in which we have a controlling financial interest. All intercompany accounts and transactions are eliminated in consolidation. All revenues are generated from external customers and we do not have a reliance on any major customer.
Estimates	Estimates We are required to make estimates and assumptions when preparing our financial statements and accompanying notes in conformity with accounting principles generally accepted in the United States of America (GAAP). As estimates develop into fact, results may, and will likely, differ from those estimates.
Investments	Investments Our fixed-maturity securities and short-term investments are accounted for on an available-for-sale basis. Fixed-maturity securities are debt securities, which may have fixed or variable principal payment schedules, may be held for indefinite periods of time, and may be used as a part of our asset/liability strategy or sold in response to changes in interest rates, anticipated prepayments, risk/reward characteristics, liquidity needs, or other economic factors. These securities are carried at fair value with the corresponding unrealized gains (losses), net of deferred income taxes, reported in accumulated other comprehensive income. Short-term investments may include commercial paper, repurchase transactions, and other securities expected to mature within one year. From time to time, we may also invest in municipal bonds that have maturity dates that are longer than one year but have either liquidity facilities or mandatory put features within one year. Equity securities include common stocks, nonredeemable preferred stocks, and other risk investments. Common stocks and nonredeemable preferred stocks are carried at fair value, with the changes in fair value reported in net holding period gains (losses) on securities on the consolidated statements of comprehensive income. Our other risk investments are accounted for under the equity method of accounting. These securities are carried at cost and adjusted for our share of the investee’s earnings or losses, with the changes in carrying value reported in investment income. We did not have any open derivative instruments at December 31, 2024, 2023, or 2022. From time to time, we entered into interest rate swaps to hedge the exposure to variable cash flows of a forecasted transaction (i.e., cash flow hedge). Derivatives designated as hedges are required to be evaluated on established criteria to determine the effectiveness of their correlation to, and ability to reduce the designated risk of, specific securities or transactions. Effectiveness is required to be reassessed regularly. For cash flow hedges that are deemed to be effective, the changes in fair value of the hedge would be reported as a component of accumulated other comprehensive income and subsequently amortized into earnings over the life of the hedged transaction. If a hedge is deemed to become ineffective or discontinued, changes in fair value of the derivative instrument would be reported in income for the current period. See Note 4 – Debt for a summary of our closed debt issuance cash flow hedges. Investment securities are exposed to various risks such as interest rate, market, credit, and liquidity risk. Fair values of securities fluctuate based on the nature and magnitude of changing market conditions; significant changes in market conditions could materially affect the portfolio’s value in the near term. We routinely monitor our fixed-maturity portfolio for pricing changes that might indicate potential credit losses exist and perform detailed reviews of securities with unrealized losses. For an unrealized loss that we determined to be related to current market conditions, we will not record an allowance for credit losses or write off the unrealized loss for the securities we do not intend to sell. We will continue to monitor these securities to determine if the unrealized loss is due to credit deterioration. If we believe that a potential credit loss exists, we record an allowance for the credit loss and recognize the realized loss as a component of realized gains (losses) in the income statement. Once a credit loss allowance has been established, we continue to evaluate the security, at least quarterly, to determine if changes in conditions have created the need to either increase or decrease the allowance recorded. If we determine that a security with a credit loss allowance previously recorded is likely to be sold prior to the potential recovery of the credit loss, or if we determine that the loss is uncollectible, we reverse the allowance and write down the security to its fair value. Investment income consists of interest, dividends, accretion, and amortization. Interest is recognized on an accrual basis using the effective yield method, except for asset-backed securities as discussed below. Depending on the nature of the equity instruments, dividends are recorded at either the ex-dividend date or on an accrual basis. Interest income for asset-backed securities is based on estimated cash flows, including expected changes in interest rates and estimated prepayments of principal. Prepayment assumptions are reviewed and updated quarterly, and effective yields are recalculated when differences arise between the prepayments originally estimated, and the actual prepayments received and currently estimated. For asset-backed securities of high credit quality, the effective yield is recalculated on a retrospective basis to the inception of the investment holding period, and applies the required adjustment, if any, to the cost basis, with the offset recorded to investment income. For those securities below high credit quality, interest-only securities, and certain asset-backed securities where there is a greater risk of non-performance, the effective yield is recalculated on a prospective basis for future period adjustments, resulting in no current period impact. Realized gains (losses) on securities are computed based on the first-in first-out method. Realized gains (losses) also include holding period valuation changes on equity securities and hybrid instruments (e.g., securities with embedded options, where the option is a feature of the overall change in the value of the instrument), as well as initial and subsequent changes in credit allowance losses and write-offs for losses deemed uncollectible or securities in a loss position that are expected to be sold prior to the recovery of the credit loss.
Insurance Premiums and Receivables	Insurance Premiums and Receivables Insurance premiums written are earned into income on a pro rata basis over the period of risk, based on a daily earnings convention. Accordingly, unearned premiums represent the portion of premiums written with unexpired risk. We write insurance and provide related services to individuals and commercial accounts and offer a variety of payment plans. Generally, premiums are collected prior to providing risk coverage, minimizing our exposure to credit risk. For our Personal Lines vehicles and Commercial Lines businesses, we perform a policy-level evaluation to determine the extent to which the premiums receivable balance exceeds the unearned premiums balance. To determine an allowance for credit losses, we evaluate the collectibility of premiums receivables based on historical and current collections experience of the aged exposures, using actuarial analysis. Our estimate of the future recoverability of our projected ultimate at-risk exposures also takes into consideration any unusual circumstances that we may encounter, such as moratoriums or other programs that may suspend collections. For our Personal Lines property business, the risk of uncollectibility is relatively low. If premiums are unpaid by the policy due date, we provide advance notice of cancellation in accordance with each state’s requirements and, if the premiums remain unpaid after the indicated cancellation date, we cancel the policy and write off any remaining balance.
Deferred Acquisition Costs	Deferred Acquisition Costs Deferred acquisition costs include commissions, premium taxes, and other variable underwriting and direct sales costs incurred in connection with the successful acquisition or renewal of insurance contracts. These acquisition costs, net of ceding allowances, are deferred and amortized over the policy period in which the related premiums are earned. We consider anticipated investment income in determining recoverability of these costs. Management believes these costs will be fully recoverable in the near term.
Loss and Loss Adjustment Expense Reserves	Loss and Loss Adjustment Expense Reserves Loss reserves represent the estimated liability on claims reported to us, plus reserves for losses incurred but not recorded. These estimates are reported net of amounts estimated to be recoverable from salvage and subrogation. Loss adjustment expense reserves represent the estimated expenses required to settle these claims. The methods of making estimates and establishing these reserves are reviewed regularly and resulting adjustments are reflected in income in the current period. Such loss and loss adjustment expense reserves are susceptible to change.
Reinsurance	Reinsurance Our reinsurance activity includes transactions which are categorized as Regulated and Non-Regulated. Regulated refers to plans in which we participate that are governed by insurance regulations and include state-provided reinsurance facilities (e.g., Michigan Catastrophic Claims Association, North Carolina Reinsurance Facility, Florida Hurricane Catastrophe Fund), as well as state-mandated involuntary plans for commercial vehicles (Commercial Automobile Insurance Procedures/Plans – CAIP) and federally regulated plans for flood (National Flood Insurance Program – NFIP); we act as a participant in the “Write Your Own” program for the NFIP. Non-Regulated includes voluntary contractual arrangements primarily related to our Personal Lines property business and to the transportation network company (TNC) business written by our Commercial Lines segment. Prepaid reinsurance premiums are earned on a pro rata basis over the period of risk, based on a daily earnings convention, which is consistent with premiums earned. See Note 7 – Reinsurance for further discussion. We routinely monitor changes in the credit quality and concentration risks of the reinsurers who are counterparties to our reinsurance recoverables to determine if an allowance for credit losses should be established.
Income Taxes	Income Taxes The income tax provision is calculated under the balance sheet approach. Deferred tax assets and liabilities are recorded based on the temporary difference between the financial statement and tax bases of assets and liabilities at the enacted tax rates. The principal items giving rise to such differences include: •unearned premiums reserves; •investment securities (e.g., net unrealized gains (losses) and net holding period gains (losses) on securities); •deferred acquisition costs; •loss and loss adjustment expense reserves; •non-deductible accruals; •software development costs; and •property and equipment. We review our deferred tax assets regularly for recoverability. See Note 5 – Income Taxes for further discussion.
Property and Equipment	Property and Equipment Property and equipment are recorded at cost, less accumulated depreciation. Depreciation is recognized over the estimated useful lives of the assets using accelerated methods for computer equipment and the straight-line method for all other fixed assets. We evaluate impairment whenever events or circumstances warrant such a review and write off the impaired assets if appropriate.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill is the excess of the purchase price over the estimated fair value of the assets and liabilities acquired and represents the future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. At December 31, 2024 and 2023, we had goodwill of $228 million included in other assets in our consolidated balance sheets, which is primarily attributable to our Personal Lines auto business written through the independent agency channel and related to the April 1, 2015, acquisition of a controlling interest in ARX Holding Corp. There were no changes to the carrying amount of goodwill during the year ended December 31, 2024. We evaluate our goodwill for impairment at least annually using a qualitative approach. If events or changes in circumstances indicate that the carrying value of goodwill may not be recoverable, we will evaluate it for impairment using a quantitative approach. In 2022, we recorded an impairment loss of $225 million, related to the goodwill assigned to the reporting units of our Personal Lines property business. There were no previously recorded goodwill impairment losses on any of the outstanding goodwill. Intangible assets are non-financial assets lacking physical substance (e.g., customer and agency relationships, trade names, software rights) and represent the future economic benefit of those acquired assets. Goodwill and intangible assets are included in other assets in our consolidated balance sheets. The amortization of intangible assets is included in the other, net line item, and is a component of net cash provided by operating activities, in our consolidated statements of cash flows. The December 31, 2023 and 2022 amounts, which were presented separately in the prior year, were reclassified to conform to the current year presentation.
Guaranty Fund Assessments	Guaranty Fund Assessments We are subject to state guaranty fund assessments, which provide for the payment of covered claims or other insurance obligations of insurance companies deemed insolvent. These assessments are accrued after a determination of insolvency has occurred, and we have written the premiums on which the assessments will be based. Assessments are expensed when incurred except for assessments that are available for recoupment from policyholders or are eligible to offset premiums taxes payable, which are capitalized to the extent allowable.
Fees and Other Revenues	Fees and Other Revenues Fees and other revenues are considered as part of our underwriting operations and primarily represent fees collected from policyholders relating to installment charges in accordance with our bill plans, as well as late payment and insufficient funds fees, and revenue from ceding commissions. Fees and other revenues are generally earned when invoiced, except for excess ceding commissions, which are earned over the policy period
Service Revenues and Expenses	Service Revenues and Expenses Our service businesses primarily provide insurance-related services. Service revenues and expenses from our commission-based businesses are recorded in the period in which they are earned or incurred.
Equity-Based Compensation	Equity-Based Compensation We issue time-based and performance-based restricted stock unit awards to key members of management as our form of equity compensation and time-based restricted stock awards to non-employee directors. Collectively, we refer to these awards as restricted equity awards. Generally, restricted equity awards are expensed pro rata over their respective vesting periods (i.e., requisite service period), based on the market value of the awards at the time of grant, with accelerated expense for participants who satisfy qualified retirement eligibility. We record an estimate for expected forfeitures of restricted equity awards based on our historical forfeiture rates. We credit dividend equivalent units to the unvested management restricted equity awards. Dividend equivalent units for these unvested time-based and performance-based awards are based on the amount of common share dividends declared by the Board of Directors, credited to outstanding restricted equity awards at the time a dividend is paid to shareholders, and distributed upon, or after, vesting of the underlying award.
Earnings Per Common Share	Earnings Per Common Share Basic earnings per common share is computed using the weighted average number of common shares outstanding during the reporting period, excluding unvested, non-employee director, time-based restricted equity awards. Diluted earnings per common share includes common stock equivalents assumed outstanding during the period. Our common stock equivalents, which are calculated using the treasury stock method, include the incremental shares assumed to be issued for: •earned but unvested time-based restricted equity awards; and •performance-based restricted equity awards that satisfied certain contingency conditions for unvested common stock equivalents during the period and are highly likely to continue to satisfy the conditions until the date of vesting. During 2024, we redeemed all of our outstanding Serial Preferred Shares, Series B. See Note 14 – Dividends for further discussion. To determine net income available to common shareholders, which is used in the calculation of the per common share amounts, we reduced net income by preferred share dividends, and, for 2024: •underwriting discounts and commissions on the preferred share issuance; •initial issuance costs related to the preferred shares; and •excise taxes related to the preferred share redemption. For periods when a net loss is reported, earnings per common share would be calculated using basic average equivalent common shares since diluted earnings per share would be antidilutive.
Supplemental Cash Flow Information	Supplemental Cash Flow Information Cash and cash equivalents include bank demand deposits and daily overnight reverse repurchase commitments of funds held in bank demand deposit accounts by certain subsidiaries. The amount of overnight reverse repurchase commitments, which are not considered part of the investment portfolio, held by these subsidiaries at December 31, 2024, 2023, and 2022, were $127 million, $68 million, and $126 million. Restricted cash and restricted cash equivalents include collateral held against unpaid deductibles and cash that is restricted to pay flood claims under the NFIP’s “Write Your Own” program, for which certain subsidiaries are participants.
Commitments and Contingencies	Commitments and Contingencies We have certain noncancelable purchase obligations for goods and services with minimum commitments of $1,594 million at December 31, 2024, primarily consisting of software licenses, maintenance on information technology equipment, and media placements. In addition, we have commitments for reinsurance agreements, primarily related to multiple-layer property catastrophe reinsurance contracts with various reinsurers with terms ranging from one to three years. The minimum commitment under these agreements at December 31, 2024, was $341 million, of which $270 million, $56 million, and $15 million will be paid in 2025, 2026, and 2027, respectively.
Litigation Reserves, Policy	Litigation Reserves We establish accruals for pending lawsuits when it is probable that a loss has been, or will be, incurred and we can reasonably estimate potential loss exposure, which may include a range of loss, even though outcomes of these lawsuits are uncertain until final disposition. As to lawsuits for which the loss is considered neither probable nor estimable, or is considered probable but not estimable, we do not establish an accrual. For lawsuits that have settled, but for which settlement is not complete, an accrual is established at our best estimate of the loss exposure. We regularly evaluate pending litigation to determine if any losses not deemed probable and estimable become so, at which point we would establish an accrual at either our best estimate of the loss or the lower end of the range of loss.
New Accounting Standards	New Accounting Standards On January 1, 2024, we began amortizing the remaining original cost of tax equity investments to the provision for income taxes, since certain conditions were met, on the modified retrospective basis, pursuant to an Accounting Standards Update (ASU) issued by the Financial Accounting Standards Board. Previously, these investments were accounted for under the equity method of accounting and the amortization was recognized as a net impairment loss on the consolidated statements of comprehensive income. The adoption of the ASU had no cumulative effect on retained earnings and did not have a material impact on our financial condition or results of operations. The amount of income tax credits and investment amortization recognized for the year ended December 31, 2024, and the carrying amount of the tax credit investments at December 31, 2024, were not material to our financial condition or results of operations and, therefore, no additional disclosure is provided. Effective for our 2024 year end reporting, we adopted the ASU related to additional disclosures on segment reporting. The additional disclosures are intended to provide users of the financial statements with more transparent information about an entity's significant segment expenses, measures of segment profit or loss, and a discussion of how these measures are used by the chief operating decision maker to assess operating segment performance. Other than the new disclosures added to Note 10 – Segment Information, there was no impact to our financial condition or results of operations related to this standard.

SEC Schedule, Article 12-04, Condensed Financial Information of Registrant (Tables)

12 Months Ended

Dec. 31, 2024

Condensed Financial Information Disclosure [Abstract]

Supplemental Cash Flow Information

For the years ended December 31, we paid the following:


(millions)	2024		2023		2022
Income taxes1	$	2,585	$	821	$	719
Interest	276		265		229
Operating lease liabilities	84		77		83

1 The increase in income taxes paid in 2024 was primarily driven by higher profitability, compared to the prior years.

Schedule Of Cash Flow, Supplemental Disclosures, Parent Only Information

For the years ended December 31, non-cash activity included the following:


(millions)	2024		2023		2022
Common share dividends1	$	2,695	$	498	$	58
Preferred share dividends and redemption1	3		0		13

1 Includes declared but unpaid dividends and unpaid excise taxes on redemption. See Note 14 – Dividends in the Annual Report for further discussion.

For the years ended December 31, The Progressive Corporation paid the following:


(millions)	2024		2023		2022
Income taxes1	$	2,540	$	800	$	705
Interest	276		265		229

1 The increase in income taxes paid in 2024 was primarily driven by higher profitability, compared to the prior years.

Reporting and Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2024

Accounting Policies [Abstract]

Premium Receivable, Allowance for Credit Loss

The following table summarizes changes in our allowance for credit loss exposure on our premiums receivable:


(millions)	2024		2023
Balance at January 1	$	369	$	343
Increase in allowance1	590		540
Write-offs2	(499)		(514)
Balance at December 31	$	460	$	369

1 Represents the incremental increase in other underwriting expenses.

2 Represents the portion of allowance that is reversed when premiums receivables are written off. Premiums receivable balances are written off once we have exhausted our collection efforts.

Advertising Costs

Total advertising costs, which are expensed as incurred, for the years ended December 31, were:


(millions)	Advertising Costs
2024	$	4,003
2023	1,600
2022	2,033

Property and Equipment

The cost and useful lives for property and equipment at December 31, were:


($ in millions)	2024		2023		Useful Lives
Land	$	52	$	103	NA
Buildings, improvements, and integrated components	576		733		7-40 years
Capitalized software	469		468		3-10 years
Software licenses (internal use)	396		486		1-6 years
Computer equipment	370		353		3 years
All other property and equipment	388		393		4-10 years
Total cost	2,251		2,536
Accumulated depreciation	(1,461)		(1,655)
Balance at end of year	$	790	$	881
NA = Not applicable; land is not a depreciable asset.

Equity Based Compensation and Related Tax Benefits

The total compensation expense recognized for all equity-based compensation for the years ended December 31, was:


(millions)	2024		2023		2022
Pretax expense	$	122	$	121	$	123
Tax benefit1	17		17		16

1 Differs from statutory rate of 21% due to the expected disallowance of certain executive compensation deductions.

Non cash activity

For the years ended December 31, non-cash activity included the following:


(millions)	2024		2023		2022
Common share dividends1	$	2,695	$	498	$	58
Preferred share dividends and redemption1	3		0		13
Operating lease liabilities2	96		114		36

1 Includes declared but unpaid dividends and unpaid excise taxes on redemption. See Note 14 – Dividends for further discussion.

2 From obtaining right-of-use assets. See Note 13 – Leases for further discussion.

Supplemental Cash Flow Information

For the years ended December 31, we paid the following:


(millions)	2024		2023		2022
Income taxes1	$	2,585	$	821	$	719
Interest	276		265		229
Operating lease liabilities	84		77		83

1 The increase in income taxes paid in 2024 was primarily driven by higher profitability, compared to the prior years.

Unrecorded Unconditional Purchase Obligations Disclosure

Aggregate payments on these obligations for the years ended December 31, are as follows:


(millions)	Payments
2025	$	1,001
2026	298
2027	114
2028	36
2029	12
Thereafter	133
Total	$	1,594

Investments (Tables)

12 Months Ended

Dec. 31, 2024

Investments, Debt and Equity Securities [Abstract]

Investment Portfolio by Major Security Type

The following tables present the composition of our investment portfolio by major security type:


($ in millions)	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Net Holding Period Gains (Losses)		Fair Value		% of Total Fair Value
December 31, 2024
Available-for-sale securities:
Fixed maturities:
U.S. government obligations	$	47,103	$	36	$	(1,151)	$	0	$	45,988	57.3	%
State and local government obligations	2,893		2		(117)		0		2,778		3.5
Foreign government obligations	16		0		0		0		16		0
Corporate and other debt securities	14,111		65		(215)		(7)		13,954		17.4
Residential mortgage-backed securities	1,600		9		(11)		3		1,601		2.0
Commercial mortgage-backed securities	4,721		7		(376)		0		4,352		5.4
Other asset-backed securities	6,682		26		(65)		0		6,643		8.3

Total fixed maturities	77,126		145		(1,935)		(4)		75,332		93.9
Short-term investments	615		0		0		0		615		0.7
Total available-for-sale securities	77,741		145		(1,935)		(4)		75,947		94.6
Equity securities:
Nonredeemable preferred stocks	756		0		0		(28)		728		0.9
Common equities	745		0		0		2,830		3,575		4.5
Total equity securities	1,501		0		0		2,802		4,303		5.4
Total portfolio1	$	79,242	$	145	$	(1,935)	$	2,798	$	80,250	100.0	%


($ in millions)	Cost		Gross Unrealized Gains		Gross Unrealized Losses		Net Holding Period Gains (Losses)		Fair Value		% of Total Fair Value
December 31, 2023
Available-for-sale securities:
Fixed maturities:
U.S. government obligations	$	37,823	$	204	$	(1,158)	$	0	$	36,869	55.9	%
State and local government obligations	2,338		3		(138)		0		2,203		3.3
Foreign government obligations	17		0		(1)		0		16		0.1
Corporate and other debt securities	11,634		87		(335)		(28)		11,358		17.2
Residential mortgage-backed securities	427		0		(10)		0		417		0.6
Commercial mortgage-backed securities	4,536		2		(598)		0		3,940		6.0
Other asset-backed securities	5,667		16		(107)		(1)		5,575		8.4

Total fixed maturities	62,442		312		(2,347)		(29)		60,378		91.5
Short-term investments	1,790		0		0		0		1,790		2.7
Total available-for-sale securities	64,232		312		(2,347)		(29)		62,168		94.2
Equity securities:
Nonredeemable preferred stocks	977		0		0		(75)		902		1.4
Common equities	706		0		0		2,223		2,929		4.4
Total equity securities	1,683		0		0		2,148		3,831		5.8
Total portfolio1	$	65,915	$	312	$	(2,347)	$	2,119	$	65,999	100.0	%

1 At December 31, 2024, we had $125 million of net unsettled security transactions included in other liabilities, compared to $46 million of net unsettled security transactions included in other assets at December 31, 2023.

The total fair value of the portfolio at December 31, 2024 and 2023, included $6.2 billion and $4.2 billion, respectively, of securities held in a consolidated, non-insurance subsidiary of the holding company, net of any unsettled security transactions. A portion of these investments were sold and proceeds used to pay our common share dividends in January 2025; see Note 14 – Dividends for additional information.

Hybrid Securities

Certain securities in our fixed-maturity portfolio are accounted for as hybrid securities because they contain embedded derivatives that are not deemed to be clearly and closely related to the host investments.

These securities are reported at fair value at December 31:


(millions)	2024		2023
Fixed Maturities:
Corporate and other debt securities	$	608	$	672
Residential mortgage-backed securities	479		324
Other asset-backed securities	1		14

Total hybrid securities	$	1,088	$	1,010

Composition of Fixed Maturities by Maturity

The composition of fixed maturities by maturity at December 31, 2024, was:


(millions)	Cost		Fair Value
Less than one year	$	7,620	$	7,588
One to five years	56,663		55,465
Five to ten years	12,590		12,027
Ten years or greater	253		252
Total	$	77,126	$	75,332

Gross Unrealized Losses by Major Security

The following tables show the composition of gross unrealized losses by major security type and by the length of time that individual securities have been in a continuous unrealized loss position:


	Total No. of Sec.	Total Fair Value		Gross Unrealized Losses		Less than 12 Months					12 Months or Greater
($ in millions)						No. of Sec.	Fair Value		Gross Unrealized Losses		No. of Sec.	Fair Value		Gross Unrealized Losses
December 31, 2024
U.S. government obligations	113	$	38,782	$	(1,151)	39	$	30,257	$	(418)	74	$	8,525	$	(733)
State and local government obligations	379	2,339		(117)		127	783		(6)		252	1,556		(111)
Corporate and other debt securities	304	7,034		(215)		122	2,935		(33)		182	4,099		(182)
Residential mortgage-backed securities	40	428		(11)		12	377		(4)		28	51		(7)
Commercial mortgage-backed securities	153	3,294		(376)		8	264		(16)		145	3,030		(360)
Other asset-backed securities	84	1,907		(65)		34	912		(8)		50	995		(57)

Total fixed maturities	1,073	$	53,784	$	(1,935)	342	$	35,528	$	(485)	731	$	18,256	$	(1,450)


	Total No. of Sec.	Total Fair Value		Gross Unrealized Losses		Less than 12 Months					12 Months or Greater
($ in millions)						No. of Sec.	Fair Value		Gross Unrealized Losses		No. of Sec.	Fair Value		Gross Unrealized Losses
December 31, 2023
U.S. government obligations	147	$	28,225	$	(1,158)	25	$	11,890	$	(100)	122	$	16,335	$	(1,058)
State and local government obligations	324	1,846		(138)		31	170		(1)		293	1,676		(137)
Foreign government obligations	1	16		(1)		0	0		0		1	16		(1)
Corporate and other debt securities	316	6,675		(335)		26	617		(14)		290	6,058		(321)
Residential mortgage-backed securities	39	88		(10)		2	0		0		37	88		(10)
Commercial mortgage-backed securities	189	3,913		(598)		1	31		(3)		188	3,882		(595)
Other asset-backed securities	207	3,299		(107)		41	640		(1)		166	2,659		(106)

Total fixed maturities	1,223	$	44,062	$	(2,347)	126	$	13,348	$	(119)	1,097	$	30,714	$	(2,228)

Components of Net Realized Gains (Losses)

The components of net realized gains (losses) for the years ended December 31, were:


(millions)	2024		2023		2022
Gross realized gains on security sales
Available-for-sale securities:
U.S. government obligations	$	64	$	12	$	11


Corporate and other debt securities	13		1		8
Residential mortgage-backed securities	1		1		1
Commercial mortgage-backed securities	1		0		0



Total available-for-sale securities	79		14		20
Equity securities:
Nonredeemable preferred stocks	0		0		18
Common equities	33		381		846
Total equity securities	33		381		864
Subtotal gross realized gains on security sales	112		395		884
Gross realized losses on security sales
Available-for-sale securities:
U.S. government obligations	(443)		(64)		(434)
State and local government obligations	(1)		0		(1)

Corporate and other debt securities	(54)		(86)		(88)

Commercial mortgage-backed securities	(22)		(107)		(72)
Other asset-backed securities	0		(6)		(4)


Total available-for-sale securities	(520)		(263)		(599)
Equity securities:
Nonredeemable preferred stocks	(18)		(118)		(10)
Common equities	(24)		(22)		(78)
Total equity securities	(42)		(140)		(88)
Subtotal gross realized losses on security sales	(562)		(403)		(687)
Net realized gains (losses) on security sales
Available-for-sale securities:
U.S. government obligations	(379)		(52)		(423)
State and local government obligations	(1)		0		(1)

Corporate and other debt securities	(41)		(85)		(80)
Residential mortgage-backed securities	1		1		1
Commercial mortgage-backed securities	(21)		(107)		(72)
Other asset-backed securities	0		(6)		(4)


Total available-for-sale securities	(441)		(249)		(579)
Equity securities:
Nonredeemable preferred stocks	(18)		(118)		8
Common equities	9		359		768
Total equity securities	(9)		241		776

Subtotal net realized gains (losses) on security sales	(450)		(8)		197
Other assets
Gain	36		22		0


Net holding period gains (losses)
Hybrid securities	25		45		(82)
Equity securities	654		303		(2,018)

Subtotal net holding period gains (losses)	679		348		(2,100)
Impairment losses
Fixed-maturity securities	(1)		0		0
Other assets	0		(9)		(9)
Subtotal impairment losses	(1)		(9)		(9)
Total net realized gains (losses) on securities	$	264	$	353	$	(1,912)

Components of Equity Realized Gains (Losses)

December 31:


(millions)	2024		2023		2022
Total net gains (losses) recognized during the period on equity securities	$	645	$	544	$	(1,242)
Less: Net gains (losses) recognized on equity securities sold during the period	(9)		241		776
Net holding period gains (losses) recognized during the period on equity securities held at period end	$	654	$	303	$	(2,018)

Components of Net Investment Income

The components of net investment income for the years ended December 31, were:


(millions)	2024		2023		2022
Available-for-sale securities:
Fixed maturities:
U.S. government obligations	$	1,489	$	864	$	339
State and local government obligations	61		48		40

Corporate and other debt securities	572		376		300
Residential mortgage-backed securities	47		29		31
Commercial mortgage-backed securities	195		196		191
Other asset-backed securities	332		193		175

Total fixed maturities	2,696		1,706		1,076
Short-term investments	53		92		53
Total available-for-sale securities	2,749		1,798		1,129
Equity securities:
Nonredeemable preferred stocks	39		51		70
Common equities	44		43		61
Total equity securities	83		94		131
Investment income	2,832		1,892		1,260
Investment expenses	(29)		(26)		(24)
Net investment income	$	2,803	$	1,866	$	1,236

Fair Value (Tables)

12 Months Ended

Dec. 31, 2024

Fair Value Disclosures [Abstract]

Composition of Investment Portfolio by Major Security Type

The composition of the investment portfolio by major security type and our outstanding debt was:


	Fair Value
(millions)	Level 1		Level 2		Level 3		Total		Cost
December 31, 2024
Fixed maturities:
U.S. government obligations	$	45,988	$	0	$	0	$	45,988	$	47,103
State and local government obligations	0		2,778		0		2,778		2,893
Foreign government obligations	0		16		0		16		16
Corporate and other debt securities	0		13,949		5		13,954		14,111
Residential mortgage-backed securities	0		1,601		0		1,601		1,600
Commercial mortgage-backed securities	0		4,352		0		4,352		4,721
Other asset-backed securities	0		6,643		0		6,643		6,682





Total fixed maturities	45,988		29,339		5		75,332		77,126
Short-term investments	613		2		0		615		615
Total available-for-sale securities	46,601		29,341		5		75,947		77,741
Equity securities:

Nonredeemable preferred stocks	0		676		52		728		756



Common equities:
Common stocks	3,527		0		23		3,550		720
Other risk investments	0		0		25		25		25
Subtotal common equities	3,527		0		48		3,575		745
Total equity securities	3,527		676		100		4,303		1,501
Total portfolio	$	50,128	$	30,017	$	105	$	80,250	$	79,242
Debt	$	0	$	6,173	$	0	$	6,173	$	6,893


	Fair Value
(millions)	Level 1		Level 2		Level 3		Total		Cost
December 31, 2023
Fixed maturities:
U.S. government obligations	$	36,869	$	0	$	0	$	36,869	$	37,823
State and local government obligations	0		2,203		0		2,203		2,338
Foreign government obligations	0		16		0		16		17
Corporate and other debt securities	0		11,355		3		11,358		11,634
Residential mortgage-backed securities	0		417		0		417		427
Commercial mortgage-backed securities	0		3,940		0		3,940		4,536
Other asset-backed securities	0		5,575		0		5,575		5,667





Total fixed maturities	36,869		23,506		3		60,378		62,442
Short-term investments	1,757		33		0		1,790		1,790
Total available-for-sale securities	38,626		23,539		3		62,168		64,232
Equity securities:

Nonredeemable preferred stocks	0		838		64		902		977



Common equities:
Common stocks	2,886		0		22		2,908		685
Other risk investments	0		0		21		21		21
Subtotal common equities	2,886		0		43		2,929		706
Total equity securities	2,886		838		107		3,831		1,683
Total portfolio	$	41,512	$	24,377	$	110	$	65,999	$	65,915
Debt	$	0	$	6,431	$	0	$	6,431	$	6,889

Summary of Changes in Fair Value Associated With Level 3 Assets

The following tables provide a summary of changes in fair value associated with Level 3 assets for the years ended December 31, 2024 and 2023:


	Level 3 Fair Value
(millions)	Fair Value at Dec. 31, 2023		Calls/ Maturities/ Paydowns/Other		Purchases		Sales		Net Realized (Gain)/Loss on Sales		Change in Valuation1		Net Transfers In (Out)		Fair Value at Dec. 31, 2024
Fixed maturities:
Corporate and other debt securities	$	3	$	0	$	2	$	0	$	0	$	0	$	0	$	5



Equity securities:

Nonredeemable preferred stocks	64		0		0		0		0		(12)		0		52

Common equities:
Common stocks	22		0		0		0		0		1		0		23
Other risk investments	21		4		0		0		0		0		0		25
Total Level 3 securities	$	110	$	4	$	2	$	0	$	0	$	(11)	$	0	$	105


	Level 3 Fair Value
(millions)	Fair Value at Dec. 31, 2022		Calls/ Maturities/ Paydowns/Other		Purchases		Sales		Net Realized (Gain)/Loss on Sales		Change in Valuation1		Net Transfers In (Out)		Fair Value at Dec. 31, 2023




Fixed maturities:
Corporate and other debt securities	$	0	$	0	$	3	$	0	$	0	$	0	$	0	$	3
Equity securities:

Nonredeemable preferred stocks	84		(8)		1		0		0		(13)		0		64

Common equities:
Common stocks	18		8		0		(10)		9		(3)		0		22
Other risk investments	20		1		0		0		0		0		0		21
Total Level 3 securities	$	122	$	1	$	4	$	(10)	$	9	$	(16)	$	0	$	110

1For fixed maturities, amounts included are unrealized gains (losses) included in accumulated other comprehensive income (loss) on our consolidated balance sheets. For equity securities, amounts included are net holding period gains (losses) on securities on our consolidated statements of comprehensive income.

Summary of Quantitative Information about Level 3 Fair Value Measurements

The following tables provide a summary of the quantitative information about Level 3 fair value measurements for our applicable securities at December 31:

Quantitative Information about Level 3 Fair Value Measurements

($ in millions)

Fair Value at Dec. 31, 2024

Valuation Technique

Unobservable Input

Range of Input Values Increase (Decrease)

Weighted Average Increase (Decrease)

Fixed maturities:

Corporate and other debt securities

$

5

Market comparables

Weighted average market capitalization price change %

(1.4)% to (1.3)%

(1.4)

%

Equity securities:

Nonredeemable preferred stocks

52

Market comparables

Weighted average market capitalization price change %

(14.1)% to 6.0%

(2.7)

%

Common stocks

23

Market comparables

Weighted average market capitalization price change %

(41.3)% to 95.9%

6.0

%

Subtotal Level 3 securities

80

Pricing exemption securities

25

Total Level 3 securities

$

105

Quantitative Information about Level 3 Fair Value Measurements

($ in millions)

Fair Value at Dec. 31, 2023

Valuation Technique

Unobservable Input

Range of Input Values Increase (Decrease)

Weighted Average Increase (Decrease)

Fixed maturities:

Corporate and other debt securities

$

3

Market comparables

Weighted average market capitalization price change %

0.3% to 7.7%

2.6

%

Equity securities:

Nonredeemable preferred stocks

64

Market comparables

Weighted average market capitalization price change %

17.2% to 39.7%

21.7%

Common stocks

22

Market comparables

Weighted average market capitalization price change %

(45.8)% to 95.6%

39.7%

Subtotal Level 3 securities

89

Pricing exemption securities

21

Total Level 3 securities

$

110

Aggregate Principal Payments on Debt Outstanding

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References + Details

Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Table

Debt at December 31, consisted of the following Senior Notes:


($ in millions)						2024				2023
Principal Amount		Interest Rate		Issuance Date	Maturity Date	Carrying Value		Fair Value		Carrying Value		Fair Value
$	500	2.45	%	August 2016	2027	$	499	$	479	$	499	$	469
500		2.50		March 2022	2027	499		479		498		469
300		6 5/8		March 1999	2029	298		320		298		329
550		4.00		October 2018	2029	547		534		547		543
500		3.20		March 2020	2030	498		462		497		462
500		3.00		March 2022	2032	497		439		496		446
400		6.25		November 2002	2032	397		430		397		446
500		4.95		May 2023	2033	497		495		496		513
350		4.35		April 2014	2044	347		298		347		314
400		3.70		January 2015	2045	396		308		396		325
850		4.125		April 2017	2047	842		684		842		756
600		4.20		March 2018	2048	591		490		591		534
500		3.95		March 2020	2050	491		386		491		422
500		3.70		March 2022	2052	494		369		494		403
Total						$	6,893	$	6,173	$	6,889	$	6,431

Aggregate required principal payments on debt outstanding at December 31, 2024, were as follows:


(millions)	Payments
2025	$	0
2026	0
2027	1,000
2028	0
2029	850
Thereafter	5,100
Total	$	6,950

Cash Flow Hedging

Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges Included in Accumulated Other Comprehensive Income

The following table shows the original gain (loss) recognized at debt issuance and the unamortized balance at December 31, 2024, on a pretax basis:


(millions)	Unrealized Gain (Loss) at Issuance		Unamortized Balance at December 31, 2024
6 5/8% Senior Notes due 2029	$	(4)	$	(2)
6.25% Senior Notes due 2032	5		2
4.35% Senior Notes due 2044	(2)		(1)
3.70% Senior Notes due 2045	(13)		(10)
4.125% Senior Notes due 2047	(8)		(7)

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(22))
-SubTopic 10
-Topic 210
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 69B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 470
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-Name Accounting Standards Codification
-Section 55
-Paragraph 69E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-3

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477734/942-470-50-3

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 505
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-6

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-7

Components of Income Tax Provision

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2024

Income Tax Disclosure [Abstract]

The components of our income tax provision for the years ended December 31, were as follows:


(millions)	2024		2023		2022
Current tax provision
Federal	$	2,247	$	1,102	$	733
State	58		19		13
Deferred tax expense (benefit)
Federal	(70)		(120)		(529)
State	(2)		0		(17)
Total income tax provision	$	2,233	$	1,001	$	200

Reconciliation of Provision (Benefit) for Income Taxes Reported in Consolidated Statements of Income with Tax at Statutory Rate

The provision for income taxes in the consolidated statements of comprehensive income differed from the statutory rate for the years ended December 31, as follows:


	2024				2023				2022
($ in millions)	Expense (Benefit)		Rate Impact		Expense (Benefit)		Rate Impact		Expense (Benefit)		Rate Impact
Income before income taxes	$	10,713			$	4,904			$	922
Tax at statutory federal rate	$	2,250	21	%	$	1,030	21	%	$	194	21	%
Tax effect of:
State income taxes, net of federal taxes	44		0		15		0		(3)		0
Stock-based compensation	(34)		0		(22)		(1)		(18)		(2)
Tax-deductible dividends	(18)		0		(5)		0		(2)		0
Nondeductible compensation expense	10		0		10		0		11		1
Tax-preferenced investment income	(10)		0		(10)		0		(13)		(1)
Tax credits	(7)		0		(17)		0		(15)		(2)
Goodwill impairment1	0		0		0		0		47		5
Other items, net	(2)		0		0		0		(1)		0
Total income tax provision	$	2,233	21	%	$	1,001	20	%	$	200	22	%
1 The ARX Holding Corp. acquisition did not create goodwill for income tax purposes. As a result, the impairment was not deductible for income tax purposes.

Components of Net Deferred Tax Assets

The following table shows the components of the net deferred tax assets and liabilities at December 31:


(millions)	2024		2023
Federal deferred income tax assets:
Unearned premiums reserve	$	991	$	836
Net unrealized losses on fixed-maturity securities	376		427
Loss and loss adjustment expense reserves	342		293
Non-deductible accruals	274		238
Software development costs	89		66
Operating lease liabilities	41		37
Hedges on forecasted transactions	4		4
Other	27		13
Federal deferred income tax liabilities:
Net holding period gains on equity securities	(588)		(451)
Deferred acquisition costs	(412)		(354)
Property and equipment	(85)		(88)
Operating lease assets	(41)		(37)
Investment basis differences	(22)		0
Prepaid expenses	(10)		(6)
Loss and loss adjustment expense reserve transition adjustment	(8)		(16)
Other	(24)		(26)
Net federal deferred income taxes	954		936
State deferred income tax assets1	42		40
Total	$	996	$	976

1 State deferred tax assets are recorded in other assets on our consolidated balance sheets.

Loss And Loss Adjustment Expense Reserves (Tables)

12 Months Ended

Dec. 31, 2024

Insurance [Abstract]

Activity in Loss and Loss Adjustment Expense Reserves

Activity in the loss and LAE reserves is summarized as follows:


(millions)	2024		2023		2022
Balance at January 1	$	34,389	$	30,359	$	26,164
Less reinsurance recoverables on unpaid losses	4,789		5,559		4,734
Net balance at January 1	29,600		24,800		21,430
Incurred related to:
Current year	49,476		44,561		38,209
Prior years	(416)		1,094		(86)
Total incurred	49,060		45,655		38,123
Paid related to:
Current year	28,909		26,875		23,543
Prior years	15,181		13,980		11,210
Total paid	44,090		40,855		34,753
Net balance at December 31	34,570		29,600		24,800
Plus reinsurance recoverables on unpaid losses	4,487		4,789		5,559
Balance at December 31	$	39,057	$	34,389	$	30,359

Short-duration Insurance Contracts, Claims Development

Only 2024 is audited; all prior years are considered required supplementary information and, therefore, are unaudited. Expected development on our case reserves is excluded from the IBNR reserves on our vehicle businesses, as discussed above. For the Personal Lines property business and the Commercial Lines other business, the IBNR reserves include expected case development based on the methodology used in establishing the case reserves. The cumulative number of incurred claims are based on accident coverages (e.g., bodily injury, collision, comprehensive, personal injury protection, property damage) related to opened claims. Coverage counts related to claims closed without payment are excluded from the cumulative number of incurred claims.


Personal Lines - Vehicles - Agency - Liability
($ in millions)											As of
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance											December 31, 2024
	For the years ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Incurred Claim Counts
Accident Year	20201		20211		20221		20231		2024
2020	$	5,434	$	5,405	$	5,386	$	5,458	$	5,335	$	0	757,059
2021			6,716		6,862		6,936		6,943		139		885,883
2022					7,077		7,302		7,226		168		842,089
2023							8,616		8,365		458		899,528
2024									9,700		1,991		922,906
							Total		$	37,569
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the years ended December 31,
Accident Year	20201		20211		20221		20231		2024
2020	$	2,383	$	4,112	$	4,797	$	5,122	$	5,257
2021			2,855		5,239		6,183		6,569
2022					3,019		5,564		6,486
2023							3,527		6,311
2024									3,753
							Total		$	28,376
	All outstanding liabilities before 2020, net of reinsurance1								101
	Liabilities for claims and claim adjustment expenses, net of reinsurance								$	9,294

1 Required supplementary information (unaudited)


Personal Lines - Vehicles - Agency - Physical Damage
($ in millions)											As of
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance											December 31, 2024
	For the years ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Incurred Claim Counts
Accident Year	20201		20211		20221		20231		2024
2020	$	3,329	$	3,320	$	3,327	$	3,323	$	3,334	$	0	1,785,155
2021			4,708		4,624		4,629		4,619		0		2,106,004
2022					5,429		5,545		5,584		27		2,033,436
2023							5,775		5,880		(16)		2,116,608
2024									6,214		(262)		2,110,655
							Total		$	25,631
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the years ended December 31,
Accident Year	20201		20211		20221		20231		2024
2020	$	3,250	$	3,323	$	3,323	$	3,328	$	3,332
2021			4,438		4,621		4,612		4,617
2022					5,176		5,542		5,549
2023							5,584		5,883
2024									5,932
							Total		$	25,313
	All outstanding liabilities before 2020, net of reinsurance1								6
	Liabilities for claims and claim adjustment expenses, net of reinsurance								$	324

1 Required supplementary information (unaudited)


Personal Lines - Vehicles - Direct - Liability
($ in millions)											As of
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance											December 31, 2024
	For the years ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Incurred Claim Counts
Accident Year	20201		20211		20221		20231		2024
2020	$	5,357	$	5,323	$	5,302	$	5,343	$	5,235	$	0	789,868
2021			6,965		7,180		7,244		7,235		118		981,585
2022					7,563		7,870		7,799		160		973,940
2023							9,628		9,424		436		1,095,697
2024									11,584		2,218		1,224,816
							Total		$	41,277
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the years ended December 31,
Accident Year	20201		20211		20221		20231		2024
2020	$	2,301	$	4,019	$	4,721	$	5,036	$	5,165
2021			2,915		5,461		6,488		6,899
2022					3,132		5,983		7,023
2023							3,926		7,160
2024									4,496
							Total		$	30,743
	All outstanding liabilities before 2020, net of reinsurance1								83
	Liabilities for claims and claim adjustment expenses, net of reinsurance								$	10,617

1 Required supplementary information (unaudited)


Personal Lines - Vehicles - Direct - Physical Damage
($ in millions)											As of
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance											December 31, 2024
	For the years ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Incurred Claim Counts
Accident Year	20201		20211		20221		20231		2024
2020	$	3,776	$	3,753	$	3,766	$	3,762	$	3,773	$	0	2,139,157
2021			5,752		5,568		5,573		5,570		3		2,602,980
2022					6,613		6,724		6,763		22		2,608,806
2023							7,578		7,678		(32)		2,858,910
2024									8,241		(398)		2,978,088
							Total		$	32,025
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the years ended December 31,
Accident Year	20201		20211		20221		20231		2024
2020	$	3,720	$	3,766	$	3,762	$	3,767	$	3,771
2021			5,422		5,579		5,560		5,565
2022					6,326		6,732		6,732
2023							7,362		7,692
2024									7,851
							Total		$	31,611
	All outstanding liabilities before 2020, net of reinsurance1								1
	Liabilities for claims and claim adjustment expenses, net of reinsurance								$	415

1 Required supplementary information (unaudited)


Personal Lines - Property
($ in millions)											As of
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance											December 31, 2024
	For the years ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Incurred Claim Counts
Accident Year	20201		20211		20221		20231		2024
2020	$	1,224	$	1,247	$	1,261	$	1,256	$	1,258	$	2	88,732
2021			1,540		1,516		1,503		1,498		6		89,934
2022					1,665		1,622		1,612		28		90,182
2023							1,583		1,605		95		81,801
2024									1,696		392		75,902
							Total		$	7,669
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the years ended December 31,
Accident Year	20201		20211		20221		20231		2024
2020	$	833	$	1,141	$	1,211	$	1,237	$	1,250
2021			1,035		1,375		1,444		1,476
2022					1,042		1,470		1,545
2023							1,078		1,441
2024									1,050
							Total		$	6,762
	All outstanding liabilities before 2020, net of reinsurance1								4
	Liabilities for claims and claim adjustment expenses, net of reinsurance								$	911

1 Required supplementary information (unaudited)


Commercial Lines - Liability
($ in millions)											As of
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance											December 31, 2024
	For the years ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Incurred Claim Counts
Accident Year	20201		20211		20221		20231		2024
2020	$	2,336	$	2,389	$	2,419	$	2,437	$	2,418	$	15	117,487
2021			3,447		3,527		3,574		3,581		79		156,656
2022					4,526		4,835		4,862		180		182,645
2023							5,456		5,502		472		189,384
2024									5,552		1,136		187,406
							Total		$	21,915
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the years ended December 31,
Accident Year	20201		20211		20221		20231		2024
2020	$	441	$	1,110	$	1,629	$	2,044	$	2,255
2021			574		1,546		2,414		2,990
2022					749		2,086		3,232
2023							848		2,307
2024									853
							Total		$	11,637
	All outstanding liabilities before 2020, net of reinsurance1								134
	Liabilities for claims and claim adjustment expenses, net of reinsurance								$	10,412

1 Required supplementary information (unaudited)


Commercial Lines - Physical Damage
($ in millions)											As of
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance											December 31, 2024
	For the years ended December 31,										Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Incurred Claim Counts
Accident Year	20201		20211		20221		20231		2024
2020	$	632	$	625	$	622	$	625	$	623	$	0	99,612
2021			921		910		910		910		2		121,945
2022					1,315		1,330		1,329		3		147,349
2023							1,352		1,336		(4)		162,717
2024									1,200		(7)		151,280
							Total		$	5,398
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the years ended December 31,
Accident Year	20201		20211		20221		20231		2024
2020	$	541	$	622	$	620	$	621	$	622
2021			764		903		902		906
2022					1,114		1,315		1,321
2023							1,184		1,328
2024									1,066
							Total		$	5,243
	All outstanding liabilities before 2020, net of reinsurance1								1
	Liabilities for claims and claim adjustment expenses, net of reinsurance								$	156

1 Required supplementary information (unaudited)


Commercial Lines - Other
($ in millions)																					As of
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance																					December 31, 2024
	For the years ended December 31,																				Total of IBNR Liabilities Plus Expected Development on Reported Claims		Cumulative Number of Incurred Claim Counts
Accident Year	20151		20161		20171		20181		20191		20201		20211		20221		20231		2024
2015	$	51	$	45	$	46	$	48	$	47	$	45	$	45	$	45	$	45	$	45	$	3	9,528
2016			52		43		41		42		40		40		40		40		40		2		7,649
2017					63		55		51		49		46		48		55		54		9		17,683
2018							82		81		77		77		77		82		83		11		15,494
2019									81		83		85		88		88		88		8		10,732
2020											75		81		82		83		83		11		9,561
2021													84		87		89		85		16		9,409
2022															84		81		82		18		7,740
2023																	85		85		27		7,512
2024																			61		35		5,028
																	Total		$	706
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance
	For the years ended December 31,
Accident Year	20151		20161		20171		20181		20191		20201		20211		20221		20231		2024
2015	$	7	$	18	$	27	$	31	$	34	$	36	$	37	$	38	$	39	$	40
2016			9		21		27		31		33		34		35		36		36
2017					10		24		31		35		37		40		42		42
2018							18		40		50		57		62		65		67
2019									20		42		56		65		71		75
2020											16		39		52		60		64
2021													17		40		52		61
2022															18		40		51
2023																	18		42
2024																			13
																	Total		$	491
					All outstanding liabilities before 2015, net of reinsurance1														31
					Liabilities for claims and claim adjustment expenses, net of reinsurance														$	246

1 Required supplementary information (unaudited)

Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability

The following table reconciles the net incurred and paid claims development tables to the liability for claims and claim adjustment expenses:


(millions)	2024		2023
Net outstanding liabilities
Personal Lines
Vehicles
Agency, Liability	$	9,294	$	8,109
Agency, Physical Damage	324		213
Direct, Liability	10,617		8,818
Direct, Physical Damage	415		223
Property	911		745
Commercial Lines
Liability	10,412		9,192
Physical Damage	156		197
Other	246		261
Other business	177		89
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance	32,552		27,847
Reinsurance recoverables on unpaid claims
Personal Lines
Vehicles
Agency, Liability	912		875
Agency, Physical Damage	0		0
Direct, Liability	1,559		1,471
Direct, Physical Damage	0		0
Property	567		632
Commercial Lines
Liability	845		1,078
Physical Damage	1		1
Other	218		216
Other business	354		475
Total reinsurance recoverables on unpaid claims	4,456		4,748
Unallocated claims adjustment expense related to:
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance	2,018		1,753
Reinsurance recoverables on unpaid claims	31		41
Total gross liability for unpaid claims and claim adjustment expense	$	39,057	$	34,389

Short-duration Insurance Contracts, Schedule of Historical Claims Duration

The following table shows the average historical claims duration as of December 31, 2024:


(Required Supplementary Information - Unaudited)
Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance	Years
	1	2	3	4	5
Personal Lines
Vehicles
Agency, Liability	41.4%	33.9%	13.1%	5.8%	2.5%
Agency, Physical Damage	95.1	4.7	0	0.1	0.1
Direct, Liability	40.6	34.9	13.7	5.8	2.5
Direct, Physical Damage	95.8	3.9	(0.1)	0.1	0.1
Property	65.7	24.1	4.9	2.1	1.0
Commercial Lines
Liability	15.8	27.1	23.3	16.5	8.7
Physical Damage	86.5	13.5	0.1	0.3	0.2
Other	20.7	26.8	14.6	9.4	5.6

Reinsurance (Tables)

12 Months Ended

Dec. 31, 2024

Reinsurance Disclosures [Abstract]

Effect of Reinsurance on Premiums Written and Earned

The effect of reinsurance on premiums written and earned for the years ended December 31, was as follows:


	2024				2023				2022
(millions)	Written		Earned		Written		Earned		Written		Earned
Direct premiums	$	75,893	$	72,169	$	62,721	$	59,881	$	52,336	$	50,650
Ceded premiums:
Regulated	(620)		(619)		(535)		(545)		(622)		(675)
Non-Regulated	(849)		(751)		(636)		(671)		(633)		(734)
Total ceded premiums	(1,469)		(1,370)		(1,171)		(1,216)		(1,255)		(1,409)
Net premiums	$	74,424	$	70,799	$	61,550	$	58,665	$	51,081	$	49,241

Prepaid Reinsurance Premiums and Reinsurance Recoverables

Our reinsurance recoverables and prepaid reinsurance premiums were comprised of the following at December 31:


	Reinsurance Recoverables								Prepaid Reinsurance Premiums
($ in millions)	2024				2023				2024				2023
Regulated:
MCCA	$	2,381	50	%	$	2,272	45	%	$	29	9	%	$	40	16	%
CAIP	415		9		539		10		0		0		0		0
NFIP	361		8		11		0		69		20		67		27
NCRF	214		4		185		4		85		24		75		30
FHCF	169		3		306		6		0		0		0		0
Other	5		0		4		0		1		0		1		0
Total Regulated	3,545		74		3,317		65		184		53		183		73
Non-Regulated:
Commercial Lines	1,137		24		1,386		27		157		45		56		23
Personal property	78		2		381		8		8		2		11		4
Other	5		0		10		0		0		0		0		0
Total Non-Regulated	1,220		26		1,777		35		165		47		67		27
Total	$	4,765	100	%	$	5,094	100	%	$	349	100	%	$	250	100	%

Employee Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2024

Employee Benefit Plans Disclosures [Abstract]

Amounts Charged to Income for Employees Incentive Compensation Plans

The amounts charged to expense for incentive compensation plans for the years ended December 31, were:


	2024				2023				2022
(millions)	Pretax		After Tax		Pretax		After Tax		Pretax		After Tax
Non-equity incentive plans – cash	$	1,040	$	822	$	897	$	709	$	381	$	301
Equity incentive plans1	122		105		121		104		123		107
1 After-tax amounts differ from the statutory rate of 21% due to the expected disallowance of certain executive compensation deductions.

Share Based Compensation Performance Share Awards Targets

The following shows the performance measurement criteria for our performance-based restricted equity awards outstanding at December 31, 2024:


Performance Measurement	Year(s) of Grant	Vesting range (as a percentage of target)
Growth of our personal auto and commercial auto businesses, both compared to its respective market	2023-2024	0-250%
Growth of our personal auto and commercial auto businesses and homeowners multi-peril business, each compared to its respective market	2022	0-250%
Investment results relative to peer group	2024	0-250%
Investment results relative to peer group	2022-2023	0-200%

Summary of Restricted Stock Activity

A summary of all employee restricted equity award activity during the years ended December 31, follows:


	2024			2023			2022
Restricted Equity Awards	Number of Shares1	Weighted Average Grant Date Fair Value		Number of Shares1	Weighted Average Grant Date Fair Value		Number of Shares1	Weighted Average Grant Date Fair Value
Beginning of year	2,893,742	$	101.18	3,198,150	$	81.71	3,539,022	$	67.24
Add (deduct):
Granted2	826,377	160.13		1,080,658	110.93		1,154,838	96.54
Vested	(1,186,442)	81.84		(1,338,466)	63.10		(1,378,070)	57.79
Forfeited	(28,015)	111.35		(46,600)	84.86		(117,640)	72.44
End of year3,4	2,505,662	$	129.66	2,893,742	$	101.18	3,198,150	$	81.71

1 Includes restricted stock units. All performance-based awards are included at their target amounts.

2 We reinvest dividend equivalents on restricted stock units. For 2024, 2023, and 2022, the number of units “granted” shown in the table above includes 23,153, 36,656, and 44,327 of dividend equivalent units, respectively, at a weighted average grant date fair value of $0, since the dividends were factored into the grant date fair values of the original grants.

3 At December 31, 2024, the number of shares included 447,819 performance-based restricted stock units at their target amounts. We expect 859,619 units to vest based upon our current estimates of the likelihood of achieving the predetermined performance measures applicable to each award.

4 At December 31, 2024, the total unrecognized compensation cost related to unvested restricted equity awards was $94 million, which includes performance-based awards at their currently estimated vesting value. This compensation expense will be recognized into our consolidated statements of comprehensive income over the weighted average vesting period of 2.3 years.

A summary of all directors’ restricted stock activity during the years ended December 31, follows:


	2024			2023			2022
Restricted Stock	Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value		Number of Shares	Weighted Average Grant Date Fair Value
Beginning of year	25,075	$	133.43	30,439	$	109.75	29,206	$	105.16
Add (deduct):
Granted	15,553	215.77		25,075	133.43		30,439	109.75
Vested1	(25,979)	136.29		(30,439)	109.75		(29,206)	105.16
End of year2	14,649	$	215.77	25,075	$	133.43	30,439	$	109.75

1 In 2024, 904 shares granted in 2024 vested upon the disability of a director, pursuant to the terms of the plan.

2 The remaining unrecognized compensation cost was $1 million at December 31, 2024, 2023, and 2022.

Assets Held in Deferral Plan Irrevocable Grantor Trust Account

The Deferral Plan Irrevocable Grantor Trust account held the following assets at December 31:


(millions)	2024		2023
Progressive common shares1	$	117	$	119
Other investment funds2	176		165
Total	$	293	$	284

1 Included 1,138,191 and 1,551,846 common shares as of December 31, 2024 and 2023, respectively, to be distributed in common shares, and are reported at grant date fair value.

2 Amount is included in other assets on our consolidated balance sheets.

Segment Information (Tables)

12 Months Ended

Dec. 31, 2024

Segment Reporting [Abstract]

Reconciliation of Revenue and Operating Income from Segments to Consolidated

Operating segment results for the years ended December 31, were as follows:


(millions)	Personal Lines		Commercial Lines		Other1		Companywide
December 31, 2024
Net premiums earned	$	60,091	$	10,707	$	1	$	70,799
Fees and other revenues	893		171		0		1,064
Total underwriting revenue	60,984		10,878		1		71,863
Losses and loss adjustment expenses:
Losses (excluding catastrophe losses)	33,684		6,421		10		40,115
Catastrophe losses	2,434		80		0		2,514
Loss adjustment expenses	5,325		1,109		(3)		6,431
Total losses and loss adjustment expenses	41,443		7,610		7		49,060
Underwriting expenses:
Distribution expenses2	7,969		1,168		1		9,138
Other underwriting expenses3	4,732		964		11		5,707
Total underwriting expenses	12,701		2,132		12		14,845
Pretax underwriting profit (loss)	$	6,840	$	1,136	$	(18)	7,958
Investment profit (loss)4							3,067
Service businesses							(33)
Interest expense							(279)
Total pretax profit (loss)							$	10,713


(millions)	Personal Lines		Commercial Lines		Other1		Total
December 31, 2023
Net premiums earned	$	48,765	$	9,899	$	1	$	58,665
Fees and other revenues	740		149		0		889
Total underwriting revenue	49,505		10,048		1		59,554
Losses and loss adjustment expenses:
Losses (excluding catastrophe losses)	31,509		6,866		3		38,378
Catastrophe losses	1,753		41		0		1,794
Loss adjustment expenses	4,487		993		3		5,483
Total losses and loss adjustment expenses	37,749		7,900		6		45,655
Underwriting expenses:
Distribution expenses2	4,904		1,073		1		5,978
Other underwriting expenses3	3,967		952		10		4,929
Total underwriting expenses	8,871		2,025		11		10,907
Pretax underwriting profit (loss)	$	2,885	$	123	$	(16)	2,992
Investment profit (loss)4							2,219
Service businesses							(39)
Interest expense							(268)
Total pretax profit (loss)							$	4,904


(millions)	Personal Lines		Commercial Lines		Other1		Total
December 31, 2022
Net premiums earned	$	40,150	$	9,088	$	3	$	49,241
Fees and other revenues	594		128		0		722
Total underwriting revenue	40,744		9,216		3		49,963
Losses and loss adjustment expenses:
Losses (excluding catastrophe losses)	26,158		5,669		3		31,830
Catastrophe losses	1,626		34		0		1,660
Loss adjustment expenses	3,788		842		3		4,633
Total losses and loss adjustment expenses	31,572		6,545		6		38,123
Underwriting expenses:
Distribution expenses2	4,699		1,000		1		5,700
Other underwriting expenses3	3,208		861		7		4,076
Total underwriting expenses	7,907		1,861		8		9,776
Pretax underwriting profit (loss)5	$	1,265	$	810	$	(11)	2,064
Investment profit (loss)4							(676)
Service businesses							3
Interest expense							(244)
Goodwill impairment5							(225)
Total pretax profit (loss)							$	922

NA = Not applicable.

1 Includes other underwriting businesses and run-off operations.

2 Includes policy acquisition costs, agents’ contingent commissions, and advertising costs attributable to our operating segments. A portion of our companywide advertising costs are also related to our service businesses.

3 Primarily consists of employee compensation and benefit costs, and the increase in the allowance for credit loss exposure on our premiums receivable.

4 Calculated as recurring investment income plus total net realized gains (losses) on securities, less investment expenses.

5 Including the goodwill impairment, the total pretax profit (loss) for the Personal Lines segment was $1,040 million for 2022.

Underwriting Margins and Combined Ratios for our Underwriting Operations

Following are the underwriting margins and combined ratios for our underwriting operations for the years ended December 31:


	2024			2023			2022
	Underwriting Margin		Combined Ratio	Underwriting Margin		Combined Ratio	Underwriting Margin		Combined Ratio
Personal Lines	11.4	%	88.6	5.9	%	94.1	3.2	%	96.8
Commercial Lines	10.6		89.4	1.2		98.8	8.9		91.1
Total underwriting operations	11.2		88.8	5.1		94.9	4.2		95.8

Reconciliation of Revenue from Segments to Consolidated

The reconciliation of total underwriting revenues to consolidated revenues for the years ended December 31, were as follows:


(millions)	2024		2023		2022
Total underwriting revenue	$	71,863	$	59,554	$	49,963
Investment income	2,832		1,892		1,260
Total net realized gains (losses) on securities	264		353		(1,912)
Service revenues	413		310		300
Total revenues	$	75,372	$	62,109	$	49,611

Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Components of Other Comprehensive Income (Loss)

The components of other comprehensive income (loss), including reclassification adjustments by income statement line item, for the years ended December 31, were as follows:


							Components of Changes in Accumulated Other Comprehensive Income (after tax)
(millions)	Pretax total accumulated other comprehensive income (loss)		Total tax (provision) benefit		After tax total accumulated other comprehensive income (loss)		Total net unrealized gains (losses) on securities		Net unrealized gains (losses) on forecasted transactions		Foreign currency translation adjustment
Balance at December 31, 2023	$	(2,053)	$	437	$	(1,616)	$	(1,601)	$	(14)	$	(1)
Other comprehensive income (loss) before reclassifications:
Investment securities	(197)		41		(156)		(156)		0		0

Total other comprehensive income (loss) before reclassifications	(197)		41		(156)		(156)		0		0
Less: Reclassification adjustment for amounts realized in net income by income statement line item:
Net impairment losses recognized in earnings	(1)		0		(1)		(1)		0		0
Net realized gains (losses) on securities	(440)		92		(348)		(348)		0		0

Total reclassification adjustment for amounts realized in net income	(441)		92		(349)		(349)		0		0
Total other comprehensive income (loss)	244		(51)		193		193		0		0
Balance at December 31, 2024	$	(1,809)	$	386	$	(1,423)	$	(1,408)	$	(14)	$	(1)


							Components of Changes in Accumulated Other Comprehensive Income (after tax)
(millions)	Pretax total accumulated other comprehensive income (loss)		Total tax (provision) benefit		After tax total accumulated other comprehensive income (loss)		Total net unrealized gains (losses) on securities		Net unrealized gains (losses) on forecasted transactions		Foreign currency translation adjustment
Balance at December 31, 2022	$	(3,557)	$	755	$	(2,802)	$	(2,787)	$	(14)	$	(1)
Other comprehensive income (loss) before reclassifications:
Investment securities	1,257		(266)		991		991		0		0
Total other comprehensive income (loss) before reclassifications	1,257		(266)		991		991		0		0
Less: Reclassification adjustment for amounts realized in net income by income statement line item:
Net realized gains (losses) on securities	(247)		52		(195)		(195)		0		0
Total reclassification adjustment for amounts realized in net income	(247)		52		(195)		(195)		0		0
Total other comprehensive income (loss)	1,504		(318)		1,186		1,186		0		0
Balance at December 31, 2023	$	(2,053)	$	437	$	(1,616)	$	(1,601)	$	(14)	$	(1)


							Components of Changes in Accumulated Other Comprehensive Income (after tax)
(millions)	Pretax total accumulated other comprehensive income (loss)		Total tax (provision) benefit		After tax total accumulated other comprehensive income (loss)		Total net unrealized gains (losses) on securities		Net unrealized gains (losses) on forecasted transactions		Foreign currency translation adjustment
Balance at December 31, 2021	$	52	$	(11)	$	41	$	56	$	(14)	$	(1)
Other comprehensive income (loss) before reclassifications:
Investment securities	(4,169)		879		(3,290)		(3,290)		0		0

Total other comprehensive income (loss) before reclassifications	(4,169)		879		(3,290)		(3,290)		0		0
Less: Reclassification adjustment for amounts realized in net income by income statement line item:
Net realized gains (losses) on securities	(560)		113		(447)		(447)		0		0

Total reclassification adjustment for amounts realized in net income	(560)		113		(447)		(447)		0		0
Total other comprehensive income (loss)	(3,609)		766		(2,843)		(2,843)		0		0
Balance at December 31, 2022	$	(3,557)	$	755	$	(2,802)	$	(2,787)	$	(14)	$	(1)

Leases (Tables)

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Operating Assets and Liabilities, Weighted-Average Remaining Term and Discount Rate, Lessee

The following table summarizes the carrying amounts of our operating leased assets and liabilities at December 31, along with key inputs used to discount our lease liabilities:


($ in millions)	2024			2023
Operating lease assets	$	193		$	173
Operating lease liabilities	$	196		$	177
Weighted-average remaining term	3.7 years			3.2 years
Weighted-average discount rate	5.1		%	5.1		%

Minimum Commitments under Noncancelable Operating Lease Agreements

At December 31, 2024, the following table shows our operating lease liabilities, on an undiscounted basis for the periods indicated:


(millions)	Commitments
2025	$	81
2026	63
2027	32
2028	19
2029	13
Thereafter	5
Total	213
Interest	(17)
Present value of lease liabilities	$	196

Lease, Cost

The operating lease expense for the years ended December 31, was as follows:


(millions)	Expense
2024	$	104
2023	94
2022	89

Dividends (Tables)

12 Months Ended

Dec. 31, 2024

Dividends [Abstract]

Dividends

Following is a summary of our common and preferred share dividends that were declared and/or paid in the last three years:


(millions, except per share amounts)		Amount
Declared	Payable	Per Share		Accrued/Paid1
Common – Annual-Variable Dividends:
December 2024	January 2025	$	4.50	$	2,637
December 2023	January 2024	0.75		439

Common – Quarterly Dividends:
December 2024	January 2025	0.10		58
August 2024	October 2024	0.10		59
May 2024	July 2024	0.10		58
March 2024	April 2024	0.10		59
December 2023	January 2024	0.10		59
August 2023	October 2023	0.10		58
May 2023	July 2023	0.10		59
March 2023	April 2023	0.10		59
December 2022	January 2023	0.10		58
August 2022	October 2022	0.10		58
May 2022	July 2022	0.10		59
March 2022	April 2022	0.10		59
December 2021	January 2022	0.10		58

Preferred Dividends:
January 2024	February 2024	15.688377		8
October 2023	December 2023	20.753157		10
August 2023	September 2023	20.67700		10
May 2023	June 2023	18.92463		10
December 2022	March 2023	26.875		13
August 2022	September 2022	26.875		14
December 2021	March 2022	26.875		13

1 The accrual is based on an estimate of shares outstanding as of the record date and recorded as a component of accounts payable, accrued expenses, and other liabilities on our consolidated balance sheets until paid.

SCHEDULE I - Summary Of Investments - Other Than Investments in Related Parties Summary Of Investments - Other than Investments In Related Parties (Detail) $ in Millions	Dec. 31, 2024 USD ($)
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	$ 79,242.0
Fair Value	80,250.0
Amount At Which Shown In The Balance Sheet	80,250.0
Fixed maturities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	77,126.0
Fair Value	75,332.0
Amount At Which Shown In The Balance Sheet	75,332.0
Fixed maturities \| US Government Agencies and Authorities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	47,103.0
Fair Value	45,988.0
Amount At Which Shown In The Balance Sheet	45,988.0
Fixed maturities \| State and local government obligations
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	2,893.0
Fair Value	2,778.0
Amount At Which Shown In The Balance Sheet	2,778.0
Fixed maturities \| Foreign government obligations
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	16.0
Fair Value	16.0
Amount At Which Shown In The Balance Sheet	16.0
Fixed maturities \| Public Utilities, Bonds
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	1,432.0
Fair Value	1,412.0
Amount At Which Shown In The Balance Sheet	1,412.0
Fixed maturities \| Corporate And Other Debt Securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	12,679.0
Fair Value	12,542.0
Amount At Which Shown In The Balance Sheet	12,542.0
Fixed maturities \| Asset-backed Securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	13,003.0
Fair Value	12,596.0
Amount At Which Shown In The Balance Sheet	12,596.0
Equity securities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	1,501.0
Fair Value	4,303.0
Amount At Which Shown In The Balance Sheet	4,303.0
Equity securities \| Utilities
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	38.0
Fair Value	121.0
Amount At Which Shown In The Balance Sheet	121.0
Equity securities \| Financials
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	143.0
Fair Value	579.0
Amount At Which Shown In The Balance Sheet	579.0
Equity securities \| Industrials
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	564.0
Fair Value	2,875.0
Amount At Which Shown In The Balance Sheet	2,875.0
Equity securities \| Nonredeemable preferred stocks
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	756.0
Fair Value	728.0
Amount At Which Shown In The Balance Sheet	728.0
Short-term investments
SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items]
Cost	615.0
Fair Value	615.0
Amount At Which Shown In The Balance Sheet	$ 615.0

SCHEDULE II - Condensed Financial Information Of Registrant Condensed Statements Of Comprehensive Income (Parent Company) (Detail) - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Revenues

Total revenues

$ 75,372

$ 62,109

$ 49,611

Expenses

Interest expense

279

268

244

Total expenses

64,659

57,205

48,689

Income before income taxes

10,713

4,904

922

Benefit for income taxes

(2,233)

(1,001)

(200)

Comprehensive income (loss)

8,480

3,903

722

8,673

5,089

(2,121)

Parent Company

Revenues

Dividends from subsidiaries

3,667

399

541

Undistributed income from subsidiaries

4,947

3,572

325

Equity in net income of subsidiaries

8,614

3,971

866

Intercompany investment income

149

205

92

Total revenues

8,763

4,176

958

Expenses

Interest expense

280

270

246

Deferred compensation

^[1]

54

20

25

Other operating costs and expenses

8

7

Total expenses

342

298

278

Income before income taxes

8,421

3,878

680

Benefit for income taxes

59

25

42

8,480

3,903

722

Comprehensive income (loss)

193

1,186

(2,843)

$ 8,673

$ 5,089

$ (2,121)

[1]	See Note 4 – Employee Benefit Plans in these condensed financial statements.

SCHEDULE II - Condensed Financial Information Of Registrant Condensed Balance Sheets (Parent Company) (Detail) - USD ($)
$ / shares in Units, $ in Millions

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Assets

Net federal deferred income taxes

$ 954.0

$ 936.0

Other assets

1,559.0

1,348.0

Total assets

105,745.0

88,691.0

Accounts payable, accrued expenses, and other liabilities

^[1]

10,346.0

7,002.0

Serial Preferred Shares, Series B, no par value (cumulative, liquidation preference of $1,000 per share) (authorized, issued, and outstanding 0 and 0.5)

^[2]

6,893.0

6,889.0

Total liabilities

80,154.0

68,414.0

0.0

494.0

Common shares, $1.00 par value (authorized 900; issued 798, including treasury shares of 212 and 213)

586.0

585.0

Paid-in capital

2,145.0

2,013.0

Retained earnings

24,283.0

18,801.0

Total accumulated other comprehensive income (loss)

(1,423.0)

(1,616.0)

$ (2,802.0)

$ 41.0

Total shareholders’ equity

25,591.0

20,277.0

$ 15,891.0

Total liabilities and shareholders’ equity

$ 105,745.0

$ 88,691.0

Common Shares, par value (USD per share)

$ 1.00

Common Shares, authorized (shares)

900,000,000

Common Shares, issued (shares)

798,000,000

Treasury Stock, Common, Shares

212,000,000

213,000,000

Serial Preferred Stock

Preferred shares, authorized (in shares)

20,000,000

Serial Preferred Stock | Series B Preferred Stock

Preferred stock, par value

$ 0

Preferred Stock, Liquidation Preference Per Share

$ 1,000

Preferred shares, authorized (in shares)

0

500,000

Preferred shares, issued (in shares)

0

500,000

Preferred Stock, Shares Outstanding (in shares)

0

500,000

Parent Company

Assets

Investment in affiliate

$ 5.0

Investment in subsidiaries

28,850.0

23,410.0

Receivable from investment subsidiary

5,812.0

3,791.0

Intercompany receivable

641.0

887.0

Net federal deferred income taxes

82.0

66.0

Other assets

176.0

165.0

Total assets

35,566.0

28,324.0

Dividends payable on common shares

2,695.0

498.0

Accounts payable, accrued expenses, and other liabilities

387.0

660.0

Serial Preferred Shares, Series B, no par value (cumulative, liquidation preference of $1,000 per share) (authorized, issued, and outstanding 0 and 0.5)

^[3]

6,893.0

6,889.0

Total liabilities

9,975.0

8,047.0

0.0

494.0

Common shares, $1.00 par value (authorized 900; issued 798, including treasury shares of 212 and 213)

586.0

585.0

Paid-in capital

2,145.0

2,013.0

Retained earnings

24,283.0

18,801.0

Total accumulated other comprehensive income (loss)

(1,423.0)

(1,616.0)

Total shareholders’ equity

25,591.0

20,277.0

Total liabilities and shareholders’ equity

$ 35,566.0

$ 28,324.0

Common Shares, par value (USD per share)

$ 1.00

Common Shares, authorized (shares)

900,000,000

Common Shares, issued (shares)

798,000,000

Treasury Stock, Common, Shares

212,000,000

213,000,000

Parent Company | Serial Preferred Stock | Series B Preferred Stock

Preferred stock, par value

$ 0

Preferred Stock, Liquidation Preference Per Share

$ 1,000

Preferred shares, authorized (in shares)

0

500,000

Preferred shares, issued (in shares)

0

500,000

Preferred Stock, Shares Outstanding (in shares)

0

500,000

[1]	See Note 1 – Reporting and Accounting Policies, Commitments and Contingencies and Litigation Reserves, Note 12 – Litigation, and Note 14 – Dividends for further discussion.
[2]	Consists solely of long-term debt. See Note 4 – Debt for further discussion.
[3]	Consists solely of long-term debt. See Note 4 – Debt in the Annual Report for further discussion.

SCHEDULE II - Condensed Financial Information Of Registrant Condensed Statements Of Cash Flows (Parent Company) (Detail) - USD ($)
$ in Millions

1 Months Ended

12 Months Ended

Feb. 29, 2024

Dec. 31, 2023

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Sep. 30, 2022

Mar. 31, 2022

Dec. 31, 2024

Dec. 31, 2023

Dec. 31, 2022

Cash Flows From Operating Activities:

Adjustments to reconcile net income to net cash provided by operating activities:

$ 8,480

$ 3,903

$ 722

Accounts payable, accrued expenses, and other liabilities

122

121

123

Changes in:

1,236

700

199

Income taxes

(358)

181

(515)

Net cash provided by operating activities

(301)

(241)

(74)

15,119

10,643

6,849

Cash Flows From Investing Activities:

Net Cash Provided by (Used in) Investing Activities

(13,749)

(10,842)

(7,956)

Cash Flows From Financing Activities:

Redemption of preferred shares1

^[1]

(500)

0

Dividends paid to common shareholders

^[1]

(674)

(234)

Dividends paid to preferred shareholders

$ (8)

$ (10)

$ (13)

$ (14)

$ (13)

(8)

^[1]

(43)

^[1]

(27)

^[1]

Acquisition of treasury shares for restricted stock tax liabilities

(121)

(95)

(77)

Acquisition of treasury shares acquired in open market

(13)

(46)

(22)

Net proceeds from debt issuance

0

496

1,486

Net cash provided by (used in) financing activities

(1,316)

78

1,126

Change in cash, cash equivalents, and restricted cash

54

(121)

19

Cash, cash equivalents, restricted cash, and restricted cash equivalents - beginning of year

100

221

202

Cash, cash equivalents, restricted cash, and restricted cash equivalents - end of year

100

154

100

221

Parent Company

Cash Flows From Operating Activities:

Adjustments to reconcile net income to net cash provided by operating activities:

8,480

3,903

722

Undistributed income from subsidiaries

(4,947)

(3,572)

(325)

Accounts payable, accrued expenses, and other liabilities

4

3

Changes in:

Intercompany receivable

246

(421)

(79)

26

12

(22)

Income taxes

(318)

301

29

Net cash provided by operating activities

28

10

60

3,519

236

388

Cash Flows From Investing Activities:

Additional investments in equity securities of consolidated subsidiaries

(182)

(621)

(798)

Received from (paid to) investment subsidiary

(2,021)

307

(716)

Net Cash Provided by (Used in) Investing Activities

(2,203)

(314)

(1,514)

Cash Flows From Financing Activities:

Redemption of preferred shares1

(500)

0

Dividends paid to common shareholders

(674)

(234)

Dividends paid to preferred shareholders

(8)

(43)

(27)

Acquisition of treasury shares for restricted stock tax liabilities

(121)

(95)

(77)

Acquisition of treasury shares acquired in open market

(13)

(46)

(22)

Net proceeds from debt issuance

0

496

1,486

Net cash provided by (used in) financing activities

(1,316)

78

1,126

Change in cash, cash equivalents, and restricted cash

0

Cash, cash equivalents, restricted cash, and restricted cash equivalents - beginning of year

0

Cash, cash equivalents, restricted cash, and restricted cash equivalents - end of year

$ 0

[1]	See Note 14 – Dividends for further discussion.

SCHEDULE II - Condensed Financial Information Of Registrant Condensed Financial Information Of Registrant - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Significant Accounting Policies [Line Items]
Securities held in consolidated non-insurance subsidiary	$ 6,200	$ 4,200
Common equities
Significant Accounting Policies [Line Items]
Dividends payable on common shares	2,695	498	$ 58
Common equities \| Annual variable dividend
Significant Accounting Policies [Line Items]
Dividends payable on common shares	2,637
Parent Company
Significant Accounting Policies [Line Items]
Securities held in consolidated non-insurance subsidiary	6,200	4,200	4,400
Dividends payable on common shares	2,695	498
Parent Company \| Common equities
Significant Accounting Policies [Line Items]
Dividends payable on common shares	$ 2,695	$ 498	$ 58

SCHEDULE II - Condensed Financial Information Of Registrant Progressive Corporation Non Cash Transactions (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Series B Preferred Stock
Other Significant Noncash Transactions [Line Items]
Dividends Payable and Excise Taxes on Redemption	$ 3	$ 0	$ 13
Common equities
Other Significant Noncash Transactions [Line Items]
Dividends payable on common shares	2,695	498	58
Parent Company
Other Significant Noncash Transactions [Line Items]
Dividends payable on common shares	2,695	498
Parent Company \| Series B Preferred Stock
Other Significant Noncash Transactions [Line Items]
Dividends Payable and Excise Taxes on Redemption	3	0	13
Parent Company \| Common equities
Other Significant Noncash Transactions [Line Items]
Dividends payable on common shares	$ 2,695	$ 498	$ 58

SCHEDULE II - Condensed Financial Information Of Registrant Progressive Corporation Cash Paid (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income taxes	$ 2,585	$ 821	$ 719
Parent Company
Income taxes	2,540	800	705
Interest	$ 276	$ 265	$ 229

SCHEDULE III - Supplementary Insurance Information Supplementary Insurance Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Deferred policy acquisition costs	$ 1,961	$ 1,687	$ 1,544
Future policy benefits, losses, claims, and loss expenses	39,057	34,389	30,359
Unearned premiums	23,858	20,134	17,294
Other policy claims and benefits payable	0	0	0
Premium revenue	70,799	58,665	49,241
Net investment income	2,803	1,866	1,236
Benefits, claims, losses, and settlement expenses	49,060	45,655	38,123
Amortization of deferred policy acquisition costs	5,383	4,665	3,917
Other operating expenses	9,462	6,242	5,859
Net premiums written	74,424	61,550	51,081
Personal Lines Segment
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Premium revenue	60,091	48,765	40,150
Benefits, claims, losses, and settlement expenses	41,443	37,749	31,572
Amortization of deferred policy acquisition costs	4,360	3,660	3,003
Other operating expenses	8,341	5,211	4,904
Net premiums written	63,470	51,412	41,680
Commercial Lines Segment
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Premium revenue	10,707	9,899	9,088
Benefits, claims, losses, and settlement expenses	7,610	7,900	6,545
Amortization of deferred policy acquisition costs	1,023	1,005	913
Other operating expenses	1,109	1,020	948
Net premiums written	10,953	10,138	9,399
Other Indemnity
SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Line Items]
Premium revenue	1	1	3
Benefits, claims, losses, and settlement expenses	7	6	6
Amortization of deferred policy acquisition costs	0	0	1
Other operating expenses	12	11	7
Net premiums written	$ 1	$ 0	$ 2

SCHEDULE IV - Reinsurance Reinsurance (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Gross Amount	$ 72,169	$ 59,881	$ 50,650
Ceded to Other Companies	1,370	1,216	1,409
Net Amount	70,799	58,665	49,241
Property, Liability and Casualty Insurance Product Line
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Gross Amount	72,169	59,881	50,650
Ceded to Other Companies	1,370	1,216	1,409
Assumed From Other Companies	0	0	0
Net Amount	$ 70,799	$ 58,665	$ 49,241
Percentage of Amount Assumed to Net	0.00%	0.00%	0.00%

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 17
-Paragraph Column F
-Publisher SEC

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 17
-Paragraph Column E
-Publisher SEC

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 17
-Paragraph Column D
-Publisher SEC

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 17
-Paragraph Column C
-Publisher SEC

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 17
-Paragraph Column B
-Publisher SEC

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 17
-Paragraph Column A
-Publisher SEC

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 17
-Publisher SEC

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.12-17(Column A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477965/944-235-S99-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.12-17(Column B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477965/944-235-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.12-17(Column C))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477965/944-235-S99-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.12-17(Column D))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477965/944-235-S99-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.12-17(Column E))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477965/944-235-S99-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.12-17(Column F))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477965/944-235-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.12-17)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477965/944-235-S99-2

Reporting and Accounting Policies - Allowance for Credit Loss (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Allowance for Credit Loss [Abstract]
Balance at January 1	$ 369	$ 343
Increase in allowance	590	540
Write-offs	(499)	(514)
Balance at December 31	$ 460	$ 369

Reporting and Accounting Policies - Advertising Costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Advertising costs	$ 4,003	$ 1,600	$ 2,033

Reporting and Accounting Policies Property, Plant, and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total cost	$ 2,251	$ 2,536
Accumulated depreciation	(1,461)	(1,655)
Balance at end of year	790	881
Land
Property, Plant and Equipment [Line Items]
Total cost	52	103
Buildings, improvements, and integrated components
Property, Plant and Equipment [Line Items]
Total cost	576	733
Capitalized software
Property, Plant and Equipment [Line Items]
Total cost	469	468
Software licenses (internal use)
Property, Plant and Equipment [Line Items]
Total cost	396	486
Computer equipment
Property, Plant and Equipment [Line Items]
Total cost	$ 370	353
Useful Lives	3 years
All other property and equipment
Property, Plant and Equipment [Line Items]
Total cost	$ 388	$ 393
Lower Limit \| Buildings, improvements, and integrated components
Property, Plant and Equipment [Line Items]
Useful Lives	7 years
Lower Limit \| Capitalized software
Property, Plant and Equipment [Line Items]
Useful Lives	3 years
Lower Limit \| Software licenses (internal use)
Property, Plant and Equipment [Line Items]
Useful Lives	1 year
Lower Limit \| All other property and equipment
Property, Plant and Equipment [Line Items]
Useful Lives	4 years
Upper Limit \| Buildings, improvements, and integrated components
Property, Plant and Equipment [Line Items]
Useful Lives	40 years
Upper Limit \| Capitalized software
Property, Plant and Equipment [Line Items]
Useful Lives	10 years
Upper Limit \| Software licenses (internal use)
Property, Plant and Equipment [Line Items]
Useful Lives	6 years
Upper Limit \| All other property and equipment
Property, Plant and Equipment [Line Items]
Useful Lives	10 years

Reporting and Accounting Policies - Compensation Expense Recognized for Equity-Based Compensation (Details) - Stock compensation plan - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pretax expense	$ 122	$ 121	$ 123
Tax benefit	$ 17	$ 17	$ 16

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Section 50
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (c)(2)(iii)(02)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-Topic 718
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-Paragraph 2
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-Topic 718
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
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-Subparagraph (f)(2)(i)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-Topic 718
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-Subparagraph (f)(2)(ii)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-Topic 718
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-Subparagraph (f)(2)(iii)
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-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

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-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reporting and Accounting Policies - Supplemental Cash Flow Information, non-cash activity (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Other Significant Noncash Transactions [Line Items]
Operating lease liabilities	$ 96	$ 114	$ 36
Series B Preferred Stock
Other Significant Noncash Transactions [Line Items]
Dividends Payable and Excise Taxes on Redemption	3	0	13
Common equities
Other Significant Noncash Transactions [Line Items]
Dividends payable	$ 2,695	$ 498	$ 58

Reporting and Accounting Policies - Supplemental Cash Flow Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Income taxes	$ 2,585	$ 821	$ 719
Interest	276	265	229
Operating lease liabilities	$ 84	$ 77	$ 83

Reporting and Accounting Policies - Unrecorded Unconditional Purchase Obligations (Details) $ in Millions	Dec. 31, 2024 USD ($)
Unrecorded Unconditional Purchase Obligation, Fiscal Year Maturity [Abstract]
2025	$ 1,001
2026	298
2027	114
2028	36
2029	12
Thereafter	133
Total	$ 1,594

Reporting and Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2024 USD ($) security segment	Dec. 31, 2023 USD ($) security	Dec. 31, 2022 USD ($) security	Dec. 31, 2021 USD ($)
Property, Plant and Equipment [Line Items]
Number of operating segments \| segment	2
Derivative, number of instruments held \| security	0	0	0
Held for sale property	$ 129,000,000	$ 77,000,000
Other assets	1,559,000,000	1,348,000,000
Goodwill	228,000,000	228,000,000
Goodwill, other increase (decrease)	0
Goodwill impairment	0	0	$ 225,000,000
Goodwill, impaired, accumulated impairment loss				$ 0
Noncancelable purchase obligation, minimum commitments	1,594,000,000
2025	1,001,000,000
2026	298,000,000
2027	114,000,000
Personal Lines Segment \| Personal Property
Property, Plant and Equipment [Line Items]
Goodwill impairment			225,000,000
Software licenses (internal use)
Property, Plant and Equipment [Line Items]
Other assets	121,000,000	88,000,000
Cash and Cash Equivalents
Property, Plant and Equipment [Line Items]
Open reverse repurchase commitments	127,000,000	$ 68,000,000	$ 126,000,000
Unrecorded unconditional purchase obligations reinsurance
Property, Plant and Equipment [Line Items]
2025	270,000,000
2026	56,000,000
2027	$ 15,000,000
Unrecorded unconditional purchase obligations reinsurance \| Lower Limit
Property, Plant and Equipment [Line Items]
Other commitments, term	1 year
Other reinsurance contracts, minimum commitment	$ 341,000,000
Unrecorded unconditional purchase obligations reinsurance \| Upper Limit
Property, Plant and Equipment [Line Items]
Other commitments, term	3 years

Investments Investment Portfolio by Major Security Type (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Available-for-sale securities, at fair value:
Cost	$ 77,741	$ 64,232
Gross Unrealized Gains	145	312
Gross Unrealized Losses	(1,935)	(2,347)
Net Holding Period Gains (Losses)	(4)	(29)
Fair Value	$ 75,947	$ 62,168
% of Total Fair Value	94.60%	94.20%
Equity securities, at fair value:
Cost	$ 1,501	$ 1,683
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Net Holding Period Gains (Losses)	2,802	2,148
Fair Value	$ 4,303	$ 3,831
% of Total Fair Value	5.40%	5.80%
Debt and Equity Securities, at Fair Value
Cost	$ 79,242	$ 65,915
Gross Unrealized Gains	145	312
Gross Unrealized Losses	(1,935)	(2,347)
Net Holding Period Gains (Losses)	2,798	2,119
Fair Value	$ 80,250	$ 65,999
% of Total Fair Value	100.00%	100.00%
Other receivable from broker-dealer and clearing organization	$ 125	$ 46
Securities held in consolidated non-insurance subsidiary	6,200	4,200
Nonredeemable preferred stocks
Equity securities, at fair value:
Cost	756	977
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Net Holding Period Gains (Losses)	(28)	(75)
Fair Value	$ 728	$ 902
% of Total Fair Value	0.90%	1.40%
Common equities
Equity securities, at fair value:
Cost	$ 745	$ 706
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Net Holding Period Gains (Losses)	2,830	2,223
Fair Value	$ 3,575	$ 2,929
% of Total Fair Value	4.50%	4.40%
Fixed maturities
Available-for-sale securities, at fair value:
Cost	$ 77,126	$ 62,442
Gross Unrealized Gains	145	312
Gross Unrealized Losses	(1,935)	(2,347)
Net Holding Period Gains (Losses)	(4)	(29)
Fair Value	$ 75,332	$ 60,378
% of Total Fair Value	93.90%	91.50%
Fixed maturities \| U.S. government obligations
Available-for-sale securities, at fair value:
Cost	$ 47,103	$ 37,823
Gross Unrealized Gains	36	204
Gross Unrealized Losses	(1,151)	(1,158)
Net Holding Period Gains (Losses)	0	0
Fair Value	$ 45,988	$ 36,869
% of Total Fair Value	57.30%	55.90%
Fixed maturities \| State and local government obligations
Available-for-sale securities, at fair value:
Cost	$ 2,893	$ 2,338
Gross Unrealized Gains	2	3
Gross Unrealized Losses	(117)	(138)
Net Holding Period Gains (Losses)	0	0
Fair Value	$ 2,778	$ 2,203
% of Total Fair Value	3.50%	3.30%
Fixed maturities \| Foreign government obligations
Available-for-sale securities, at fair value:
Cost	$ 16	$ 17
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	(1)
Net Holding Period Gains (Losses)	0	0
Fair Value	$ 16	$ 16
% of Total Fair Value	0.00%	0.10%
Fixed maturities \| Corporate and other debt securities
Available-for-sale securities, at fair value:
Cost	$ 14,111	$ 11,634
Gross Unrealized Gains	65	87
Gross Unrealized Losses	(215)	(335)
Net Holding Period Gains (Losses)	(7)	(28)
Fair Value	$ 13,954	$ 11,358
% of Total Fair Value	17.40%	17.20%
Fixed maturities \| Residential mortgage-backed securities
Available-for-sale securities, at fair value:
Cost	$ 1,600	$ 427
Gross Unrealized Gains	9	0
Gross Unrealized Losses	(11)	(10)
Net Holding Period Gains (Losses)	3	0
Fair Value	$ 1,601	$ 417
% of Total Fair Value	2.00%	0.60%
Fixed maturities \| Commercial mortgage-backed securities
Available-for-sale securities, at fair value:
Cost	$ 4,721	$ 4,536
Gross Unrealized Gains	7	2
Gross Unrealized Losses	(376)	(598)
Net Holding Period Gains (Losses)	0	0
Fair Value	$ 4,352	$ 3,940
% of Total Fair Value	5.40%	6.00%
Fixed maturities \| Other asset-backed securities
Available-for-sale securities, at fair value:
Cost	$ 6,682	$ 5,667
Gross Unrealized Gains	26	16
Gross Unrealized Losses	(65)	(107)
Net Holding Period Gains (Losses)	0	(1)
Fair Value	$ 6,643	$ 5,575
% of Total Fair Value	8.30%	8.40%
Short-term investments
Available-for-sale securities, at fair value:
Cost	$ 615	$ 1,790
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Net Holding Period Gains (Losses)	0	0
Fair Value	$ 615	$ 1,790
% of Total Fair Value	0.70%	2.70%

Investments Hybrid Securities (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Hybrid Securities [Line Items]
Hybrid securities	$ 1,088	$ 1,010
Corporate and other debt securities
Hybrid Securities [Line Items]
Hybrid securities	608	672
Residential mortgage-backed securities
Hybrid Securities [Line Items]
Hybrid securities	479	324
Other asset-backed securities
Hybrid Securities [Line Items]
Hybrid securities	$ 1	$ 14

Investments Composition of Fixed Maturities by Maturity (Detail) - Fixed maturities $ in Millions	Dec. 31, 2024 USD ($)
Cost
Less than one year	$ 7,620
One to five years	56,663
Five to ten years	12,590
Ten years or greater	253
Total	77,126
Fair Value
Less than one year	7,588
One to five years	55,465
Five to ten years	12,027
Ten years or greater	252
Total	$ 75,332

Investments Gross Unrealized losses by Major Security (Detail) $ in Millions	Dec. 31, 2024 USD ($) security	Dec. 31, 2023 USD ($) security
Number of Securities
Total No. of Sec. \| security	1,073	1,223
Less than 12 Months \| security	342	126
12 Months or Greater \| security	731	1,097
Fair Value
Total Fair Value	$ 53,784	$ 44,062
Less than 12 Months	35,528	13,348
12 Months or Greater	18,256	30,714
Gross Unrealized Losses
Gross Unrealized Losses	1,935	2,347
Less than 12 Months	485	119
12 Months or Greater	$ 1,450	$ 2,228
U.S. government obligations
Number of Securities
Total No. of Sec. \| security	113	147
Less than 12 Months \| security	39	25
12 Months or Greater \| security	74	122
Fair Value
Total Fair Value	$ 38,782	$ 28,225
Less than 12 Months	30,257	11,890
12 Months or Greater	8,525	16,335
Gross Unrealized Losses
Gross Unrealized Losses	1,151	1,158
Less than 12 Months	418	100
12 Months or Greater	$ 733	$ 1,058
State and local government obligations
Number of Securities
Total No. of Sec. \| security	379	324
Less than 12 Months \| security	127	31
12 Months or Greater \| security	252	293
Fair Value
Total Fair Value	$ 2,339	$ 1,846
Less than 12 Months	783	170
12 Months or Greater	1,556	1,676
Gross Unrealized Losses
Gross Unrealized Losses	117	138
Less than 12 Months	6	1
12 Months or Greater	$ 111	$ 137
Foreign government obligations
Number of Securities
Total No. of Sec. \| security		1
Less than 12 Months \| security		0
12 Months or Greater \| security		1
Fair Value
Total Fair Value		$ 16
Less than 12 Months		0
12 Months or Greater		16
Gross Unrealized Losses
Gross Unrealized Losses		1
Less than 12 Months		0
12 Months or Greater		$ 1
Corporate and other debt securities
Number of Securities
Total No. of Sec. \| security	304	316
Less than 12 Months \| security	122	26
12 Months or Greater \| security	182	290
Fair Value
Total Fair Value	$ 7,034	$ 6,675
Less than 12 Months	2,935	617
12 Months or Greater	4,099	6,058
Gross Unrealized Losses
Gross Unrealized Losses	215	335
Less than 12 Months	33	14
12 Months or Greater	$ 182	$ 321
Residential mortgage-backed securities
Number of Securities
Total No. of Sec. \| security	40	39
Less than 12 Months \| security	12	2
12 Months or Greater \| security	28	37
Fair Value
Total Fair Value	$ 428	$ 88
Less than 12 Months	377	0
12 Months or Greater	51	88
Gross Unrealized Losses
Gross Unrealized Losses	11	10
Less than 12 Months	4	0
12 Months or Greater	$ 7	$ 10
Commercial mortgage-backed securities
Number of Securities
Total No. of Sec. \| security	153	189
Less than 12 Months \| security	8	1
12 Months or Greater \| security	145	188
Fair Value
Total Fair Value	$ 3,294	$ 3,913
Less than 12 Months	264	31
12 Months or Greater	3,030	3,882
Gross Unrealized Losses
Gross Unrealized Losses	376	598
Less than 12 Months	16	3
12 Months or Greater	$ 360	$ 595
Other asset-backed securities
Number of Securities
Total No. of Sec. \| security	84	207
Less than 12 Months \| security	34	41
12 Months or Greater \| security	50	166
Fair Value
Total Fair Value	$ 1,907	$ 3,299
Less than 12 Months	912	640
12 Months or Greater	995	2,659
Gross Unrealized Losses
Gross Unrealized Losses	65	107
Less than 12 Months	8	1
12 Months or Greater	$ 57	$ 106

Investments Components of Net Realized Gains (Losses) (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Gross realized gains on security sales
Available-for-sale securities:	$ 79	$ 14	$ 20
Equity securities:	33	381	864
Subtotal gross realized gains on security sales	112	395	884
Gross realized losses on security sales
Available-for-sale securities:	(520)	(263)	(599)
Equity securities:	(42)	(140)	(88)
Subtotal gross realized losses on security sales	(562)	(403)	(687)
Net realized gains (losses) on security sales
Available-for-sale securities:	(441)	(249)	(579)
Equity securities:	(9)	241	776
Subtotal net realized gains (losses) on security sales	(450)	(8)	197
Other assets
Gain	36	22	0
Net holding period gains (losses)
Hybrid securities	25	45	(82)
Equity securities	654	303	(2,018)
Subtotal net holding period gains (losses)	679	348	(2,100)
Impairment losses
Fixed-maturity securities	(1)	0	0
Other assets	0	(9)	(9)
Subtotal impairment losses	(1)	(9)	(9)
Total net realized gains (losses) on securities	264	353	(1,912)
U.S. government obligations
Gross realized gains on security sales
Available-for-sale securities:	64	12	11
Gross realized losses on security sales
Available-for-sale securities:	(443)	(64)	(434)
Net realized gains (losses) on security sales
Available-for-sale securities:	(379)	(52)	(423)
State and local government obligations
Gross realized losses on security sales
Available-for-sale securities:	(1)	0	(1)
Net realized gains (losses) on security sales
Available-for-sale securities:	(1)	0	(1)
Corporate and other debt securities
Gross realized gains on security sales
Available-for-sale securities:	13	1	8
Gross realized losses on security sales
Available-for-sale securities:	(54)	(86)	(88)
Net realized gains (losses) on security sales
Available-for-sale securities:	(41)	(85)	(80)
Residential mortgage-backed securities
Gross realized gains on security sales
Available-for-sale securities:	1	1	1
Net realized gains (losses) on security sales
Available-for-sale securities:	1	1	1
Commercial mortgage-backed securities
Gross realized gains on security sales
Available-for-sale securities:	1	0	0
Gross realized losses on security sales
Available-for-sale securities:	(22)	(107)	(72)
Net realized gains (losses) on security sales
Available-for-sale securities:	(21)	(107)	(72)
Other asset-backed securities
Gross realized losses on security sales
Available-for-sale securities:	0	(6)	(4)
Net realized gains (losses) on security sales
Available-for-sale securities:	0	(6)	(4)
Nonredeemable preferred stocks
Gross realized gains on security sales
Equity securities:	0	0	18
Gross realized losses on security sales
Equity securities:	(18)	(118)	(10)
Net realized gains (losses) on security sales
Equity securities:	(18)	(118)	8
Common equities
Gross realized gains on security sales
Equity securities:	33	381	846
Gross realized losses on security sales
Equity securities:	(24)	(22)	(78)
Net realized gains (losses) on security sales
Equity securities:	$ 9	$ 359	$ 768

Investments Components of Equity Realized Gains (Losses) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Total net gains (losses) recognized during the period on equity securities	$ 645	$ 544	$ (1,242)
Less: Net gains (losses) recognized on equity securities sold during the period	(9)	241	776
Net holding period gains (losses) recognized during the period on equity securities held at period end	$ 654	$ 303	$ (2,018)

Investments Components of Net Investment Income (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Net Investment Income [Line Items]
Investment income	$ 2,832	$ 1,892	$ 1,260
Investment expenses	(29)	(26)	(24)
Net investment income	2,803	1,866	1,236
Available-for-sale Securities
Net Investment Income [Line Items]
Investment income	2,749	1,798	1,129
Equity securities
Net Investment Income [Line Items]
Investment income	83	94	131
Equity securities \| Nonredeemable preferred stocks
Net Investment Income [Line Items]
Investment income	39	51	70
Equity securities \| Common equities
Net Investment Income [Line Items]
Investment income	44	43	61
Fixed maturities
Net Investment Income [Line Items]
Investment income	2,696	1,706	1,076
Fixed maturities \| U.S. government obligations
Net Investment Income [Line Items]
Investment income	1,489	864	339
Fixed maturities \| State and local government obligations
Net Investment Income [Line Items]
Investment income	61	48	40
Fixed maturities \| Corporate and other debt securities
Net Investment Income [Line Items]
Investment income	572	376	300
Fixed maturities \| Residential mortgage-backed securities
Net Investment Income [Line Items]
Investment income	47	29	31
Fixed maturities \| Commercial mortgage-backed securities
Net Investment Income [Line Items]
Investment income	195	196	191
Fixed maturities \| Other asset-backed securities
Net Investment Income [Line Items]
Investment income	332	193	175
Short-term investments
Net Investment Income [Line Items]
Investment income	$ 53	$ 92	$ 53

Investments - Additional Information (Detail)	12 Months Ended
Investments - Additional Information (Detail)	Dec. 31, 2024 USD ($) security	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Investments, Debt and Equity Securities [Abstract]
Principal amount of bonds and certificates of deposit on deposit to meet state insurance regulatory and/or rating agency requirements	$ 774,000,000
Securities exceeding 10% of Shareholders' Equity	0	$ 0
Fair value of fixed-maturity securities that were non-income producing during the preceding 12 months	$ 0
Securities with credit ratings downgraded \| security	19
Value of securities with credit rating downgraded	$ 429,000,000
Unrealized loss on securities with credit downgraded	61,000,000
Allowance for credit losses, securities	0	0
Credit loss allowance balance, available-for-sale securities	0	0
Write off of accrued income	$ 0	$ 0
Recovery of impairment, other assets, number of positions \| security	3
Percent change in investment income	50.00%	50.00%
Fixed-maturity securities	$ (1,000,000)	$ 0	$ 0
Debt securities, available-for-sale, unrealized loss position, issuers downgraded \| security	12

Fair Value Composition of Investment Portfolio by Major Security Type (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 80,250	$ 65,999
Debt, fair value	6,173	6,431
Available-for-sale Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	75,947	62,168
Available-for-sale Securities \| Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	75,332	60,378
Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| U.S. government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	45,988	36,869
Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| State and local government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	2,778	2,203
Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| Foreign government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	16	16
Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| Corporate and other debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	13,954	11,358
Available-for-sale Securities \| Fixed maturities \| Asset-backed Securities \| Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,601	417
Available-for-sale Securities \| Fixed maturities \| Asset-backed Securities \| Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	4,352	3,940
Available-for-sale Securities \| Fixed maturities \| Asset-backed Securities \| Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	6,643	5,575
Available-for-sale Securities \| Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	615	1,790
Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	4,303	3,831
Equity securities \| Nonredeemable preferred stocks \| Financials
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	728	902
Equity securities \| Common equities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	3,575	2,929
Equity securities \| Common equities \| Common Stocks, by Industry
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	3,550	2,908
Equity securities \| Common equities \| Other risk investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	25	21
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	50,128	41,512
Debt, fair value	0	0
Fair Value, Inputs, Level 1 \| Available-for-sale Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	46,601	38,626
Fair Value, Inputs, Level 1 \| Available-for-sale Securities \| Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	45,988	36,869
Fair Value, Inputs, Level 1 \| Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| U.S. government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	45,988	36,869
Fair Value, Inputs, Level 1 \| Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| State and local government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Inputs, Level 1 \| Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| Foreign government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Inputs, Level 1 \| Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| Corporate and other debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Inputs, Level 1 \| Available-for-sale Securities \| Fixed maturities \| Asset-backed Securities \| Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Inputs, Level 1 \| Available-for-sale Securities \| Fixed maturities \| Asset-backed Securities \| Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Inputs, Level 1 \| Available-for-sale Securities \| Fixed maturities \| Asset-backed Securities \| Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Inputs, Level 1 \| Available-for-sale Securities \| Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	613	1,757
Fair Value, Inputs, Level 1 \| Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	3,527	2,886
Fair Value, Inputs, Level 1 \| Equity securities \| Nonredeemable preferred stocks \| Financials
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Inputs, Level 1 \| Equity securities \| Common equities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	3,527	2,886
Fair Value, Inputs, Level 1 \| Equity securities \| Common equities \| Common Stocks, by Industry
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	3,527	2,886
Fair Value, Inputs, Level 1 \| Equity securities \| Common equities \| Other risk investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	30,017	24,377
Debt, fair value	6,173	6,431
Fair Value, Inputs, Level 2 \| Available-for-sale Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	29,341	23,539
Fair Value, Inputs, Level 2 \| Available-for-sale Securities \| Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	29,339	23,506
Fair Value, Inputs, Level 2 \| Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| U.S. government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Inputs, Level 2 \| Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| State and local government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	2,778	2,203
Fair Value, Inputs, Level 2 \| Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| Foreign government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	16	16
Fair Value, Inputs, Level 2 \| Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| Corporate and other debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	13,949	11,355
Fair Value, Inputs, Level 2 \| Available-for-sale Securities \| Fixed maturities \| Asset-backed Securities \| Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,601	417
Fair Value, Inputs, Level 2 \| Available-for-sale Securities \| Fixed maturities \| Asset-backed Securities \| Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	4,352	3,940
Fair Value, Inputs, Level 2 \| Available-for-sale Securities \| Fixed maturities \| Asset-backed Securities \| Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	6,643	5,575
Fair Value, Inputs, Level 2 \| Available-for-sale Securities \| Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	2	33
Fair Value, Inputs, Level 2 \| Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	676	838
Fair Value, Inputs, Level 2 \| Equity securities \| Nonredeemable preferred stocks \| Financials
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	676	838
Fair Value, Inputs, Level 2 \| Equity securities \| Common equities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Inputs, Level 2 \| Equity securities \| Common equities \| Common Stocks, by Industry
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Inputs, Level 2 \| Equity securities \| Common equities \| Other risk investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	105	110
Debt, fair value	0	0
Fair Value, Inputs, Level 3 \| Available-for-sale Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	5	3
Fair Value, Inputs, Level 3 \| Available-for-sale Securities \| Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	5	3
Fair Value, Inputs, Level 3 \| Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| U.S. government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Inputs, Level 3 \| Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| State and local government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Inputs, Level 3 \| Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| Foreign government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Inputs, Level 3 \| Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| Corporate and other debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	5	3
Fair Value, Inputs, Level 3 \| Available-for-sale Securities \| Fixed maturities \| Asset-backed Securities \| Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Inputs, Level 3 \| Available-for-sale Securities \| Fixed maturities \| Asset-backed Securities \| Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Inputs, Level 3 \| Available-for-sale Securities \| Fixed maturities \| Asset-backed Securities \| Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Inputs, Level 3 \| Available-for-sale Securities \| Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	0	0
Fair Value, Inputs, Level 3 \| Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	100	107
Fair Value, Inputs, Level 3 \| Equity securities \| Nonredeemable preferred stocks \| Financials
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	52	64
Fair Value, Inputs, Level 3 \| Equity securities \| Common equities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	48	43
Fair Value, Inputs, Level 3 \| Equity securities \| Common equities \| Common Stocks, by Industry
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	23	22
Fair Value, Inputs, Level 3 \| Equity securities \| Common equities \| Other risk investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	25	21
Carrying (Reported) Amount, Fair Value Disclosure
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	79,242	65,915
Carrying Value	6,893	6,889
Carrying (Reported) Amount, Fair Value Disclosure \| Available-for-sale Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	77,741	64,232
Carrying (Reported) Amount, Fair Value Disclosure \| Available-for-sale Securities \| Fixed maturities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	77,126	62,442
Carrying (Reported) Amount, Fair Value Disclosure \| Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| U.S. government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	47,103	37,823
Carrying (Reported) Amount, Fair Value Disclosure \| Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| State and local government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	2,893	2,338
Carrying (Reported) Amount, Fair Value Disclosure \| Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| Foreign government obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	16	17
Carrying (Reported) Amount, Fair Value Disclosure \| Available-for-sale Securities \| Fixed maturities \| Debt Securities [Member] \| Corporate and other debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	14,111	11,634
Carrying (Reported) Amount, Fair Value Disclosure \| Available-for-sale Securities \| Fixed maturities \| Asset-backed Securities \| Residential mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,600	427
Carrying (Reported) Amount, Fair Value Disclosure \| Available-for-sale Securities \| Fixed maturities \| Asset-backed Securities \| Commercial mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	4,721	4,536
Carrying (Reported) Amount, Fair Value Disclosure \| Available-for-sale Securities \| Fixed maturities \| Asset-backed Securities \| Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	6,682	5,667
Carrying (Reported) Amount, Fair Value Disclosure \| Available-for-sale Securities \| Short-term investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	615	1,790
Carrying (Reported) Amount, Fair Value Disclosure \| Equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	1,501	1,683
Carrying (Reported) Amount, Fair Value Disclosure \| Equity securities \| Nonredeemable preferred stocks \| Financials
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	756	977
Carrying (Reported) Amount, Fair Value Disclosure \| Equity securities \| Common equities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	745	706
Carrying (Reported) Amount, Fair Value Disclosure \| Equity securities \| Common equities \| Common Stocks, by Industry
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	720	685
Carrying (Reported) Amount, Fair Value Disclosure \| Equity securities \| Common equities \| Other risk investments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 25	$ 21

Fair Value Summary of Changes in Fair Value Associated With Level 3 Assets (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Fair Value	$ 110	$ 122
Calls/ Maturities/ Paydowns/Other	4	1
Purchases	2	4
Sales	0	(10)
Net Realized (Gain)/Loss on Sales	0	9
Change in Valuation	(11)	(16)
Net Transfers In (Out)	0	0
Ending Fair value	105	$ 110
Fair Value, Asset, Recurring Basis, Unobservable Input Reconciliation, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]		Net realized gains (losses) on security sales
Corporate and other debt securities
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Fair Value	3	$ 0
Calls/ Maturities/ Paydowns/Other	0	0
Purchases	2	3
Sales	0	0
Net Realized (Gain)/Loss on Sales	0	0
Change in Valuation	0	0
Net Transfers In (Out)	0	0
Ending Fair value	5	3
Nonredeemable preferred stocks \| Financials
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Fair Value	64	84
Calls/ Maturities/ Paydowns/Other	0	(8)
Purchases	0	1
Sales	0	0
Net Realized (Gain)/Loss on Sales	0	0
Change in Valuation	(12)	(13)
Net Transfers In (Out)	0	0
Ending Fair value	52	64
Common equities \| Common Stocks, by Industry
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Fair Value	22	18
Calls/ Maturities/ Paydowns/Other	0	8
Purchases	0	0
Sales	0	(10)
Net Realized (Gain)/Loss on Sales	0	9
Change in Valuation	1	(3)
Net Transfers In (Out)	0	0
Ending Fair value	23	22
Common equities \| Other risk investments
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning Fair Value	21	20
Calls/ Maturities/ Paydowns/Other	4	1
Purchases	0	0
Sales	0	0
Net Realized (Gain)/Loss on Sales	0	0
Change in Valuation	0	0
Net Transfers In (Out)	0	0
Ending Fair value	$ 25	$ 21

Fair Value Summary of Quantitative Information about Level 3 Fair Value Measurements (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 80,250	$ 65,999
Fair Value, Inputs, Level 3
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	105	110
Fair Value, Inputs, Level 3 \| Total Quantitative Level Three Securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	80	89
Fair Value, Inputs, Level 3 \| Third Party Pricing Exemption Securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	25	21
Fair Value, Inputs, Level 3 \| Corporate and other debt securities \| Total Quantitative Level Three Securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 5	$ 3
Fair value inputs, market cap price change percentage, range, minimum	(1.40%)
Fair value inputs, market cap price change percentage, range, maximum	(1.30%)
Weighted Average Increase (Decrease)	(1.40%)	2.60%
Fair Value, Inputs, Level 3 \| Nonredeemable preferred stocks \| Total Quantitative Level Three Securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 52	$ 64
Fair value inputs, market cap price change percentage, range, minimum	(14.10%)	17.20%
Fair value inputs, market cap price change percentage, range, maximum	6.00%	39.70%
Weighted Average Increase (Decrease)	(2.70%)	21.70%
Fair Value, Inputs, Level 3 \| Common equities \| Total Quantitative Level Three Securities
Fair Value Inputs, Assets, Quantitative Information [Line Items]
Fair Value	$ 23	$ 22
Fair value inputs, market cap price change percentage, range, minimum	(41.30%)	(45.80%)
Fair value inputs, market cap price change percentage, range, maximum	95.90%	95.60%
Weighted Average Increase (Decrease)	6.00%	3970.00%

Fair Value - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 80,250	$ 65,999
Goodwill impairment	$ 0	$ 0	$ 225
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Vendor quoted prices, percent of FV hierarchy level	93.00%	93.00%
Fair Value	$ 50,128	$ 41,512
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Vendor quoted prices, percent of FV hierarchy level	100.00%	100.00%
Fair Value	$ 30,017	$ 24,377
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 105	$ 110

Debt (Detail) - USD ($)

Dec. 31, 2024

Dec. 31, 2023

May 31, 2023

Mar. 31, 2022

Mar. 31, 2020

Oct. 31, 2018

Mar. 31, 2018

Apr. 30, 2017

Aug. 31, 2016

Jan. 31, 2015

Apr. 30, 2014

Nov. 30, 2002

Mar. 31, 1999

2.45% Senior Notes Due 2027

$ 6,173,000,000

$ 6,431,000,000

Total

^[1]

6,893,000,000

6,889,000,000

2.50% Senior Notes due 2027

$ 500,000,000

2.45%

499,000,000

479,000,000

469,000,000

$ 500,000,000

2.50%

499,000,000

498,000,000

6 5/8% Senior Notes due 2029

479,000,000

469,000,000

4.00% Senior Notes due 2029

$ 300,000,000

6.625%

298,000,000

320,000,000

329,000,000

3.20% Senior Notes due 2030

$ 550,000,000

4.00%

547,000,000

534,000,000

543,000,000

$ 500,000,000

3.20%

498,000,000

497,000,000

3.00% Senior Notes due 2032

462,000,000

$ 500,000,000

3.00%

497,000,000

496,000,000

6.25% Senior Notes due 2032

439,000,000

446,000,000

4.95% Senior Notes due 2033

$ 400,000,000

6.25%

397,000,000

430,000,000

446,000,000

$ 500,000,000

4.95%

497,000,000

496,000,000

4.35% Senior Notes due 2044

495,000,000

513,000,000

3.70% Senior Notes due 2045

$ 350,000,000

4.35%

347,000,000

298,000,000

314,000,000

4.125% Senior Notes due 2047

$ 400,000,000

3.70%

396,000,000

308,000,000

325,000,000

4.20% Senior Notes due 2048

$ 850,000,000

4.125%

842,000,000

684,000,000

756,000,000

3.95% Senior Notes due 2050

$ 600,000,000

4.20%

591,000,000

490,000,000

534,000,000

3.70% Senior Notes due 2052

$ 500,000,000

3.95%

491,000,000

386,000,000

422,000,000

$ 500,000,000

3.70%

494,000,000

$ 369,000,000

$ 403,000,000

[1]	Consists solely of long-term debt. See Note 4 – Debt for further discussion.

Debt Aggregate Principal Payments On Debt Outstanding (Detail) $ in Millions	Dec. 31, 2024 USD ($)
Debt Disclosure [Abstract]
2025	$ 0
2026	0
2027	1,000
2028	0
2029	850
Thereafter	5,100
Total	$ 6,950

Debt Unrealized Gains (Losses) From Debt Hedges Included In Accumulated Other (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Apr. 30, 2017	Jan. 31, 2015	Apr. 30, 2014	Nov. 30, 2002	Mar. 31, 1999
Debt Instrument [Line Items]
Net unrealized losses on forecasted transactions	$ (14)	$ (14)
6 5/8% Senior Notes due 2029
Debt Instrument [Line Items]
Unrealized Gain (Loss) at Issuance							$ (4)
Net unrealized losses on forecasted transactions	(2)
6.25% Senior Notes due 2032
Debt Instrument [Line Items]
Unrealized Gain (Loss) at Issuance						$ 5
Net unrealized losses on forecasted transactions	2
4.35% Senior Notes due 2044
Debt Instrument [Line Items]
Unrealized Gain (Loss) at Issuance					$ (2)
Net unrealized losses on forecasted transactions	(1)
3.70% Senior Notes due 2045
Debt Instrument [Line Items]
Unrealized Gain (Loss) at Issuance				$ (13)
Net unrealized losses on forecasted transactions	(10)
4.125% Senior Notes due 2047
Debt Instrument [Line Items]
Unrealized Gain (Loss) at Issuance			$ (8)
Net unrealized losses on forecasted transactions	$ (7)

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Debt - Additional Information (Detail) - USD ($)	12 Months Ended
Debt - Additional Information (Detail) - USD ($)	Dec. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Long-term debt, current maturities	$ 0	$ 0
Discretionary Line of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 300,000,000
Debt instrument, basis spread on variable rate	1.10%
Discretionary line of credit repayment period	30 days
Proceeds from lines of credit	$ 0	$ 0

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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 26: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 27: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482900/835-30-50-1

Income Taxes Components of Income Tax Provision (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Current tax provision
Federal	$ 2,247	$ 1,102	$ 733
State	58	19	13
Deferred tax expense (benefit)
Federal	(70)	(120)	(529)
State	(2)	0	(17)
Total income tax provision	$ 2,233	$ 1,001	$ 200

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
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-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.7)
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-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
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-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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-Name Accounting Standards Codification
-Section 45
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Income Taxes Reconciliation of Provision (Benefit) for income Taxes Reported in Consolidated Statements Of Income with Tax at Statutory Rate (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Effective Income Tax Rate Reconciliation, Amount [Abstract]
Income before income taxes	$ 10,713	$ 4,904	$ 922
Tax at statutory federal rate	2,250	1,030	194
State income taxes, net of federal taxes	44	15	(3)
Stock-based compensation	(34)	(22)	(18)
Tax-deductible dividends	(18)	(5)	(2)
Nondeductible compensation expense	10	10	11
Tax-preferenced investment income	(10)	(10)	(13)
Tax credits	(7)	(17)	(15)
Goodwill impairment	0	0	47
Other items, net	(2)	0	(1)
Total income tax provision	$ 2,233	$ 1,001	$ 200
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Tax at statutory federal rate	21.00%	21.00%	21.00%
State income taxes, net of federal taxes	0.00%	0.00%	0.00%
Stock-based compensation	0.00%	(1.00%)	(2.00%)
Tax-deductible dividends	0.00%	0.00%	0.00%
Nondeductible compensation expense	0.00%	0.00%	1.00%
Tax-preferenced investment income	0.00%	0.00%	(1.00%)
Tax credits	0.00%	0.00%	(2.00%)
Goodwill impairment	0.00%	0.00%	5.00%
Other items, net	0.00%	0.00%	0.00%
Total income tax provision	21.00%	20.00%	22.00%

Income Taxes Components of Net Deferred Tax Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Federal deferred income tax assets:
Unearned premiums reserve	$ 991	$ 836
Net unrealized losses on fixed-maturity securities	376	427
Loss and loss adjustment expense reserves	342	293
Non-deductible accruals	274	238
Software development costs	89	66
Operating lease liabilities	41	37
Hedges on forecasted transactions	4	4
Other	27	13
Federal deferred income tax liabilities:
Net holding period gains on equity securities	(588)	(451)
Deferred acquisition costs	(412)	(354)
Property and equipment	(85)	(88)
Operating lease assets	(41)	(37)
Investment basis differences	(22)	0
Prepaid expenses	(10)	(6)
Loss and loss adjustment expense reserve transition adjustment	(8)	(16)
Other	(24)	(26)
Net federal deferred income taxes	954	936
State deferred income tax assets	42	40
Total	$ 996	$ 976

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Deferred tax assets valuation allowance	$ 0	$ 0
Net taxes payable	26,000,000	312,000,000
Unrecognized tax benefits	0	0
Provision for income taxes	$ 2,233,000,000	$ 1,001,000,000	$ 200,000,000

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
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-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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-Topic 944
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-Section S99
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Loss And Loss Adjustment Expense Reserves Activity in Loss and loss Adjustment Expense Reserves (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]
Balance at beginning of period	$ 34,389	$ 30,359	$ 26,164
Less reinsurance recoverables on unpaid losses	4,789	5,559	4,734
Net balance at beginning of period	29,600	24,800	21,430
Incurred related to:
Current year	49,476	44,561	38,209
Prior years	(416)	1,094	(86)
Total incurred	49,060	45,655	38,123
Paid related to:
Current year	28,909	26,875	23,543
Prior years	15,181	13,980	11,210
Total paid	44,090	40,855	34,753
Net balance at ending of period	34,570	29,600	24,800
Plus reinsurance recoverables on unpaid losses	4,487	4,789	5,559
Balance at ending of period	$ 39,057	$ 34,389	$ 30,359

Loss And Loss Adjustment Expense Reserves Loss And Loss Adjustment Expense Reserves - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) data_subset	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Number of subsets of business data reviewed (over) \| data_subset	400
Reserve development, prior years	$ (416)	$ 1,094	$ (86)
2023
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Reserve development, prior years	(180)
2022
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Reserve development, prior years	(55)	950
2021
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Reserve development, prior years		125	(22)
2020
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Reserve development, prior years			(47)
Commercial Lines Segment
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Reserve development, prior years	50	365	82
Personal Auto \| Personal Lines Segment
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Reserve development, prior years	(550)	$ 715	$ (157)
Personal Property \| Personal Lines Segment
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Reserve development, prior years	$ 80
Auto
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Percentage of reserves	91.00%
Agency Channel \| Personal Auto \| Personal Lines Segment
Causes of Increase (Decrease) in Liability for Unpaid Claims and Claims Adjustment Expense [Line Items]
Percent of prior year claims and claims adjustment expense	0.60

Loss And Loss Adjustment Expense Reserves Incurred and Paid Claims Development with IBNR and Claim Counts (Details) $ in Millions	Dec. 31, 2024 USD ($) claim segment	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Claims Development [Line Items]
Liabilities for claims and claim adjustment expenses, net of reinsurance	$ 32,552	$ 27,847
Personal Lines Segment \| Personal Lines - Property
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	7,669
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	6,762
All outstanding liabilities before 2015, net of reinsurance	4
Liabilities for claims and claim adjustment expenses, net of reinsurance	911	745
Personal Lines Segment \| 2020 \| Personal Lines - Property
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	1,258	1,256	$ 1,261	$ 1,247	$ 1,224
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 2
Cumulative Number of Incurred Claim Counts \| segment	88,732
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 1,250	1,237	1,211	1,141	833
Personal Lines Segment \| 2021 \| Personal Lines - Property
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	1,498	1,503	1,516	1,540
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 6
Cumulative Number of Incurred Claim Counts \| segment	89,934
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 1,476	1,444	1,375	1,035
Personal Lines Segment \| 2022 \| Personal Lines - Property
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	1,612	1,622	1,665
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 28
Cumulative Number of Incurred Claim Counts \| segment	90,182
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 1,545	1,470	1,042
Personal Lines Segment \| 2023 \| Personal Lines - Property
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	1,605	1,583
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 95
Cumulative Number of Incurred Claim Counts \| segment	81,801
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 1,441	1,078
Personal Lines Segment \| 2024 \| Personal Lines - Property
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	1,696
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 392
Cumulative Number of Incurred Claim Counts \| segment	75,902
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 1,050
Personal Lines Segment \| Agency Channel \| Personal Lines - Vehicles - Liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	37,569
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	28,376
All outstanding liabilities before 2015, net of reinsurance	101
Liabilities for claims and claim adjustment expenses, net of reinsurance	9,294	8,109
Personal Lines Segment \| Agency Channel \| Personal Lines - Vehicles - Physical Damage
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	25,631
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	25,313
All outstanding liabilities before 2015, net of reinsurance	6
Liabilities for claims and claim adjustment expenses, net of reinsurance	324	213
Personal Lines Segment \| Agency Channel \| 2020 \| Personal Lines - Vehicles - Liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	5,335	5,458	5,386	5,405	5,434
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 0
Cumulative Number of Incurred Claim Counts \| claim	757,059
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 5,257	5,122	4,797	4,112	2,383
Personal Lines Segment \| Agency Channel \| 2020 \| Personal Lines - Vehicles - Physical Damage
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	3,334	3,323	3,327	3,320	3,329
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 0
Cumulative Number of Incurred Claim Counts \| claim	1,785,155
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 3,332	3,328	3,323	3,323	3,250
Personal Lines Segment \| Agency Channel \| 2021 \| Personal Lines - Vehicles - Liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	6,943	6,936	6,862	6,716
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 139
Cumulative Number of Incurred Claim Counts \| claim	885,883
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 6,569	6,183	5,239	2,855
Personal Lines Segment \| Agency Channel \| 2021 \| Personal Lines - Vehicles - Physical Damage
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	4,619	4,629	4,624	4,708
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 0
Cumulative Number of Incurred Claim Counts \| claim	2,106,004
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 4,617	4,612	4,621	4,438
Personal Lines Segment \| Agency Channel \| 2022 \| Personal Lines - Vehicles - Liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	7,226	7,302	7,077
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 168
Cumulative Number of Incurred Claim Counts \| claim	842,089
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 6,486	5,564	3,019
Personal Lines Segment \| Agency Channel \| 2022 \| Personal Lines - Vehicles - Physical Damage
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	5,584	5,545	5,429
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 27
Cumulative Number of Incurred Claim Counts \| claim	2,033,436
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 5,549	5,542	5,176
Personal Lines Segment \| Agency Channel \| 2023 \| Personal Lines - Vehicles - Liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	8,365	8,616
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 458
Cumulative Number of Incurred Claim Counts \| claim	899,528
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 6,311	3,527
Personal Lines Segment \| Agency Channel \| 2023 \| Personal Lines - Vehicles - Physical Damage
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	5,880	5,775
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ (16)
Cumulative Number of Incurred Claim Counts \| claim	2,116,608
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 5,883	5,584
Personal Lines Segment \| Agency Channel \| 2024 \| Personal Lines - Vehicles - Liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	9,700
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 1,991
Cumulative Number of Incurred Claim Counts \| claim	922,906
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 3,753
Personal Lines Segment \| Agency Channel \| 2024 \| Personal Lines - Vehicles - Physical Damage
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	6,214
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ (262)
Cumulative Number of Incurred Claim Counts \| claim	2,110,655
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 5,932
Personal Lines Segment \| Direct Channel \| Personal Lines - Vehicles - Liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	41,277
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	30,743
All outstanding liabilities before 2015, net of reinsurance	83
Liabilities for claims and claim adjustment expenses, net of reinsurance	10,617	8,818
Personal Lines Segment \| Direct Channel \| Personal Lines - Vehicles - Physical Damage
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	32,025
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	31,611
All outstanding liabilities before 2015, net of reinsurance	1
Liabilities for claims and claim adjustment expenses, net of reinsurance	415	223
Personal Lines Segment \| Direct Channel \| 2020 \| Personal Lines - Vehicles - Liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	5,235	5,343	5,302	5,323	5,357
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 0
Cumulative Number of Incurred Claim Counts \| claim	789,868
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 5,165	5,036	4,721	4,019	2,301
Personal Lines Segment \| Direct Channel \| 2020 \| Personal Lines - Vehicles - Physical Damage
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	3,773	3,762	3,766	3,753	3,776
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 0
Cumulative Number of Incurred Claim Counts \| claim	2,139,157
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 3,771	3,767	3,762	3,766	3,720
Personal Lines Segment \| Direct Channel \| 2021 \| Personal Lines - Vehicles - Liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	7,235	7,244	7,180	6,965
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 118
Cumulative Number of Incurred Claim Counts \| claim	981,585
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 6,899	6,488	5,461	2,915
Personal Lines Segment \| Direct Channel \| 2021 \| Personal Lines - Vehicles - Physical Damage
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	5,570	5,573	5,568	5,752
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 3
Cumulative Number of Incurred Claim Counts \| claim	2,602,980
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 5,565	5,560	5,579	5,422
Personal Lines Segment \| Direct Channel \| 2022 \| Personal Lines - Vehicles - Liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	7,799	7,870	7,563
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 160
Cumulative Number of Incurred Claim Counts \| claim	973,940
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 7,023	5,983	3,132
Personal Lines Segment \| Direct Channel \| 2022 \| Personal Lines - Vehicles - Physical Damage
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	6,763	6,724	6,613
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 22
Cumulative Number of Incurred Claim Counts \| claim	2,608,806
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 6,732	6,732	6,326
Personal Lines Segment \| Direct Channel \| 2023 \| Personal Lines - Vehicles - Liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	9,424	9,628
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 436
Cumulative Number of Incurred Claim Counts \| claim	1,095,697
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 7,160	3,926
Personal Lines Segment \| Direct Channel \| 2023 \| Personal Lines - Vehicles - Physical Damage
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	7,678	7,578
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ (32)
Cumulative Number of Incurred Claim Counts \| claim	2,858,910
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 7,692	7,362
Personal Lines Segment \| Direct Channel \| 2024 \| Personal Lines - Vehicles - Liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	11,584
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 2,218
Cumulative Number of Incurred Claim Counts \| claim	1,224,816
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 4,496
Personal Lines Segment \| Direct Channel \| 2024 \| Personal Lines - Vehicles - Physical Damage
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	8,241
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ (398)
Cumulative Number of Incurred Claim Counts \| claim	2,978,088
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 7,851
Commercial Lines Segment \| Commercial Lines - Liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	21,915
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	11,637
All outstanding liabilities before 2015, net of reinsurance	134
Liabilities for claims and claim adjustment expenses, net of reinsurance	10,412	9,192
Commercial Lines Segment \| Commercial Lines - Physical Damage
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	5,398
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	5,243
All outstanding liabilities before 2015, net of reinsurance	1
Liabilities for claims and claim adjustment expenses, net of reinsurance	156	197
Commercial Lines Segment \| Commercial Lines - Other
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	706
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	491
All outstanding liabilities before 2015, net of reinsurance	31
Liabilities for claims and claim adjustment expenses, net of reinsurance	246	261
Commercial Lines Segment \| 2015 \| Commercial Lines - Other
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	45	45	45	45	45	$ 47	$ 48	$ 46	$ 45	$ 51
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 3
Cumulative Number of Incurred Claim Counts \| claim	9,528
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 40	39	38	37	36	34	31	27	18	$ 7
Commercial Lines Segment \| 2016 \| Commercial Lines - Other
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	40	40	40	40	40	42	41	43	52
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 2
Cumulative Number of Incurred Claim Counts \| claim	7,649
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 36	36	35	34	33	31	27	21	$ 9
Commercial Lines Segment \| 2017 \| Commercial Lines - Other
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	54	55	48	46	49	51	55	63
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 9
Cumulative Number of Incurred Claim Counts \| claim	17,683
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 42	42	40	37	35	31	24	$ 10
Commercial Lines Segment \| 2018 \| Commercial Lines - Other
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	83	82	77	77	77	81	82
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 11
Cumulative Number of Incurred Claim Counts \| claim	15,494
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 67	65	62	57	50	40	$ 18
Commercial Lines Segment \| 2019 \| Commercial Lines - Other
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	88	88	88	85	83	81
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 8
Cumulative Number of Incurred Claim Counts \| claim	10,732
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 75	71	65	56	42	$ 20
Commercial Lines Segment \| 2020 \| Commercial Lines - Liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	2,418	2,437	2,419	2,389	2,336
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 15
Cumulative Number of Incurred Claim Counts \| claim	117,487
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 2,255	2,044	1,629	1,110	441
Commercial Lines Segment \| 2020 \| Commercial Lines - Physical Damage
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	623	625	622	625	632
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 0
Cumulative Number of Incurred Claim Counts \| claim	99,612
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 622	621	620	622	541
Commercial Lines Segment \| 2020 \| Commercial Lines - Other
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	83	83	82	81	75
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 11
Cumulative Number of Incurred Claim Counts \| claim	9,561
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 64	60	52	39	$ 16
Commercial Lines Segment \| 2021 \| Commercial Lines - Liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	3,581	3,574	3,527	3,447
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 79
Cumulative Number of Incurred Claim Counts \| claim	156,656
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 2,990	2,414	1,546	574
Commercial Lines Segment \| 2021 \| Commercial Lines - Physical Damage
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	910	910	910	921
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 2
Cumulative Number of Incurred Claim Counts \| claim	121,945
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 906	902	903	764
Commercial Lines Segment \| 2021 \| Commercial Lines - Other
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	85	89	87	84
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 16
Cumulative Number of Incurred Claim Counts \| claim	9,409
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 61	52	40	$ 17
Commercial Lines Segment \| 2022 \| Commercial Lines - Liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	4,862	4,835	4,526
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 180
Cumulative Number of Incurred Claim Counts \| claim	182,645
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 3,232	2,086	749
Commercial Lines Segment \| 2022 \| Commercial Lines - Physical Damage
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	1,329	1,330	1,315
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 3
Cumulative Number of Incurred Claim Counts \| claim	147,349
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 1,321	1,315	1,114
Commercial Lines Segment \| 2022 \| Commercial Lines - Other
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	82	81	84
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 18
Cumulative Number of Incurred Claim Counts \| claim	7,740
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 51	40	$ 18
Commercial Lines Segment \| 2023 \| Commercial Lines - Liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	5,502	5,456
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 472
Cumulative Number of Incurred Claim Counts \| claim	189,384
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 2,307	848
Commercial Lines Segment \| 2023 \| Commercial Lines - Physical Damage
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	1,336	1,352
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ (4)
Cumulative Number of Incurred Claim Counts \| claim	162,717
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 1,328	1,184
Commercial Lines Segment \| 2023 \| Commercial Lines - Other
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	85	85
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 27
Cumulative Number of Incurred Claim Counts \| claim	7,512
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 42	$ 18
Commercial Lines Segment \| 2024 \| Commercial Lines - Liability
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	5,552
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 1,136
Cumulative Number of Incurred Claim Counts \| claim	187,406
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 853
Commercial Lines Segment \| 2024 \| Commercial Lines - Physical Damage
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	1,200
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ (7)
Cumulative Number of Incurred Claim Counts \| claim	151,280
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 1,066
Commercial Lines Segment \| 2024 \| Commercial Lines - Other
Claims Development [Line Items]
Incurred Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	61
Total of IBNR Liabilities Plus Expected Development on Reported Claims	$ 35
Cumulative Number of Incurred Claim Counts \| claim	5,028
Cumulative Paid Claims and Allocated Claim Adjustment Expenses, Net of Reinsurance	$ 13

Loss And Loss Adjustment Expense Reserves Reconciliation of the Claims Development to the Liability for Claims and Claim Adjustment Expenses (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance	$ 32,552	$ 27,847
Total reinsurance recoverables on unpaid claims	4,456	4,748
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance	2,018	1,753
Reinsurance recoverables on unpaid claims	31	41
Total gross liability for unpaid claims and claim adjustment expense	39,057	34,389	$ 30,359	$ 26,164
Other business
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance	177	89
Total reinsurance recoverables on unpaid claims	354	475
Personal Lines Segment \| Personal Lines - Property
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance	911	745
Total reinsurance recoverables on unpaid claims	567	632
Commercial Lines Segment \| Commercial Lines - Liability
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance	10,412	9,192
Total reinsurance recoverables on unpaid claims	845	1,078
Commercial Lines Segment \| Commercial Lines - Physical Damage
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance	156	197
Total reinsurance recoverables on unpaid claims	1	1
Commercial Lines Segment \| Commercial Lines - Other
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance	246	261
Total reinsurance recoverables on unpaid claims	218	216
Agency Channel \| Personal Lines Segment \| Personal Lines - Vehicles - Liability
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance	9,294	8,109
Total reinsurance recoverables on unpaid claims	912	875
Agency Channel \| Personal Lines Segment \| Personal Lines - Vehicles - Physical Damage
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance	324	213
Total reinsurance recoverables on unpaid claims	0	0
Direct Channel \| Personal Lines Segment \| Personal Lines - Vehicles - Liability
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance	10,617	8,818
Total reinsurance recoverables on unpaid claims	1,559	1,471
Direct Channel \| Personal Lines Segment \| Personal Lines - Vehicles - Physical Damage
Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items]
Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance	415	223
Total reinsurance recoverables on unpaid claims	$ 0	$ 0

Loss And Loss Adjustment Expense Reserves Historical Claims Duration (Details)	Dec. 31, 2024
Personal Lines Segment \| Personal Lines - Property
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Short-duration Insurance Contracts, Historical Claims Duration, Year One	65.70%
Short-duration insurance contracts, historical claims duration, year two	24.10%
Short-duration insurance contracts, historical claims duration, year three	4.90%
Short-duration insurance contracts, historical claims duration, year four	2.10%
Short-duration insurance contracts, historical claims duration, year five	1.00%
Personal Lines Segment \| Agency Channel \| Personal Lines - Vehicles - Liability
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Short-duration Insurance Contracts, Historical Claims Duration, Year One	41.40%
Short-duration insurance contracts, historical claims duration, year two	33.90%
Short-duration insurance contracts, historical claims duration, year three	13.10%
Short-duration insurance contracts, historical claims duration, year four	5.80%
Short-duration insurance contracts, historical claims duration, year five	2.50%
Personal Lines Segment \| Agency Channel \| Personal Lines - Vehicles - Physical Damage
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Short-duration Insurance Contracts, Historical Claims Duration, Year One	95.10%
Short-duration insurance contracts, historical claims duration, year two	4.70%
Short-duration insurance contracts, historical claims duration, year three	0.00%
Short-duration insurance contracts, historical claims duration, year four	0.10%
Short-duration insurance contracts, historical claims duration, year five	0.10%
Personal Lines Segment \| Direct Channel \| Personal Lines - Vehicles - Liability
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Short-duration Insurance Contracts, Historical Claims Duration, Year One	40.60%
Short-duration insurance contracts, historical claims duration, year two	34.90%
Short-duration insurance contracts, historical claims duration, year three	13.70%
Short-duration insurance contracts, historical claims duration, year four	5.80%
Short-duration insurance contracts, historical claims duration, year five	2.50%
Personal Lines Segment \| Direct Channel \| Personal Lines - Vehicles - Physical Damage
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Short-duration Insurance Contracts, Historical Claims Duration, Year One	95.80%
Short-duration insurance contracts, historical claims duration, year two	3.90%
Short-duration insurance contracts, historical claims duration, year three	(0.10%)
Short-duration insurance contracts, historical claims duration, year four	0.10%
Short-duration insurance contracts, historical claims duration, year five	0.10%
Commercial Lines Segment \| Commercial Lines - Liability
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Short-duration Insurance Contracts, Historical Claims Duration, Year One	15.80%
Short-duration insurance contracts, historical claims duration, year two	27.10%
Short-duration insurance contracts, historical claims duration, year three	23.30%
Short-duration insurance contracts, historical claims duration, year four	16.50%
Short-duration insurance contracts, historical claims duration, year five	8.70%
Commercial Lines Segment \| Commercial Lines - Physical Damage
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Short-duration Insurance Contracts, Historical Claims Duration, Year One	86.50%
Short-duration insurance contracts, historical claims duration, year two	13.50%
Short-duration insurance contracts, historical claims duration, year three	0.10%
Short-duration insurance contracts, historical claims duration, year four	0.30%
Short-duration insurance contracts, historical claims duration, year five	0.20%
Commercial Lines Segment \| Commercial Lines - Other
Short-duration Insurance Contracts, Historical Claims Duration [Line Items]
Short-duration Insurance Contracts, Historical Claims Duration, Year One	20.70%
Short-duration insurance contracts, historical claims duration, year two	26.80%
Short-duration insurance contracts, historical claims duration, year three	14.60%
Short-duration insurance contracts, historical claims duration, year four	9.40%
Short-duration insurance contracts, historical claims duration, year five	5.60%

Reinsurance Effect of Reinsurance on Premiums Written and Earned (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Direct premiums written	$ 75,893	$ 62,721	$ 52,336
Ceded written	(1,469)	(1,171)	(1,255)
Net premiums written	74,424	61,550	51,081
Direct premiums earned	72,169	59,881	50,650
Ceded earned	(1,370)	(1,216)	(1,409)
Net premiums earned	70,799	58,665	49,241
non regulated reinsurance plan
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Ceded written	(849)	(636)	(633)
Ceded earned	(751)	(671)	(734)
Regulated reinsurance plan
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Ceded written	(620)	(535)	(622)
Ceded earned	$ (619)	$ (545)	$ (675)

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 17
-Paragraph Column F
-Publisher SEC

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 17
-Paragraph Column E
-Publisher SEC

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 17
-Paragraph Column D
-Publisher SEC

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 17
-Paragraph Column C
-Publisher SEC

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 17
-Paragraph Column B
-Publisher SEC

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 17
-Paragraph Column A
-Publisher SEC

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Subsection 17
-Publisher SEC

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.12-17(Column A))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477965/944-235-S99-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.12-17(Column B))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477965/944-235-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.12-17(Column C))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477965/944-235-S99-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.12-17(Column D))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477965/944-235-S99-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.12-17(Column E))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477965/944-235-S99-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.12-17(Column F))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477965/944-235-S99-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 235
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.12-17)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477965/944-235-S99-2

Reinsurance Prepaid Reinsurance Premiums and Reinsurance Recoverables (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance recoverables, including reinsurance premium paid	$ 4,765	$ 5,094
Percentage of total reinsurance recoverables	100.00%	100.00%
Prepaid reinsurance premiums	$ 349	$ 250
Percentage of total prepaid reinsurance premiums	100.00%	100.00%
Commercial Lines reinsurance program
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance recoverables, including reinsurance premium paid	$ 1,137	$ 1,386
Percentage of total reinsurance recoverables	24.00%	27.00%
Prepaid reinsurance premiums	$ 157	$ 56
Percentage of total prepaid reinsurance premiums	45.00%	23.00%
Personal property reinsurance program
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance recoverables, including reinsurance premium paid	$ 78	$ 381
Percentage of total reinsurance recoverables	2.00%	8.00%
Prepaid reinsurance premiums	$ 8	$ 11
Percentage of total prepaid reinsurance premiums	2.00%	4.00%
Other reinsurance program
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance recoverables, including reinsurance premium paid	$ 5	$ 10
Percentage of total reinsurance recoverables	0.00%	0.00%
Prepaid reinsurance premiums	$ 0	$ 0
Percentage of total prepaid reinsurance premiums	0.00%	0.00%
Non State Reinsurance Plans
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance recoverables, including reinsurance premium paid	$ 1,220	$ 1,777
Percentage of total reinsurance recoverables	26.00%	35.00%
Prepaid reinsurance premiums	$ 165	$ 67
Percentage of total prepaid reinsurance premiums	47.00%	27.00%
State Reinsurance Plans
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance recoverables, including reinsurance premium paid	$ 3,545	$ 3,317
Percentage of total reinsurance recoverables	74.00%	65.00%
Prepaid reinsurance premiums	$ 184	$ 183
Percentage of total prepaid reinsurance premiums	53.00%	73.00%
State Reinsurance Plans \| Michigan Catastrophic Claims Association
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance recoverables, including reinsurance premium paid	$ 2,381	$ 2,272
Percentage of total reinsurance recoverables	50.00%	45.00%
Prepaid reinsurance premiums	$ 29	$ 40
Percentage of total prepaid reinsurance premiums	9.00%	16.00%
State Reinsurance Plans \| Commercial Auto Insurance Procedures Plans
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance recoverables, including reinsurance premium paid	$ 415	$ 539
Percentage of total reinsurance recoverables	9.00%	10.00%
Prepaid reinsurance premiums	$ 0	$ 0
Percentage of total prepaid reinsurance premiums	0.00%	0.00%
State Reinsurance Plans \| North Carolina Reinsurance Facility
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance recoverables, including reinsurance premium paid	$ 214	$ 185
Percentage of total reinsurance recoverables	4.00%	4.00%
Prepaid reinsurance premiums	$ 85	$ 75
Percentage of total prepaid reinsurance premiums	24.00%	30.00%
State Reinsurance Plans \| Florida Hurricane Catastrophe Fund
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance recoverables, including reinsurance premium paid	$ 169	$ 306
Percentage of total reinsurance recoverables	3.00%	6.00%
Prepaid reinsurance premiums	$ 0	$ 0
Percentage of total prepaid reinsurance premiums	0.00%	0.00%
State Reinsurance Plans \| Other reinsurance program
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance recoverables, including reinsurance premium paid	$ 5	$ 4
Percentage of total reinsurance recoverables	0.00%	0.00%
Prepaid reinsurance premiums	$ 1	$ 1
Percentage of total prepaid reinsurance premiums	0.00%	0.00%
Federal Reinsurance Plans \| National Flood Insurance Program
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items]
Reinsurance recoverables, including reinsurance premium paid	$ 361	$ 11
Percentage of total reinsurance recoverables	8.00%	0.00%
Prepaid reinsurance premiums	$ 69	$ 67
Percentage of total prepaid reinsurance premiums	20.00%	27.00%

Statutory Financial Information - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statutory Financial Information Disclosures [Abstract]
Consolidated statutory policyholders' surplus	$ 27,171	$ 22,250
Statutory net income	7,670	$ 3,502	$ 2,764
Consolidated statutory policyholders' surplus, net admitted assets of insurance subsidiaries and affiliate that are required to meet minimum statutory surplus requirements in such entities' states of domicile	1,650
Cash and non-cash dividends paid to parent company	3,667
Maximum aggregate dividend amount subsidiaries could pay without prior approval from regulatory authorities	$ 7,021

Employee Benefit Plans Amounts Charged to Income for employees Incentive Compensation Plans (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Incentive Compensation Cash Award
Incentive Compensation Plans Expense [Line Items]
Pretax	$ 1,040	$ 897	$ 381
After Tax	822	709	301
Employee Stock
Incentive Compensation Plans Expense [Line Items]
Pretax	122	121	123
After Tax	$ 105	$ 104	$ 107

Employee Benefit Plans - Vesting ranges of outstanding performance based equity awards (Details) - Performance Shares	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Insurance Operating Results \| Lower Limit
Employee Benefits Disclosure [Line Items]
Performance-based awards granted vesting percentage of the award amount	0.00%	0.00%	0.00%
Insurance Operating Results \| Upper Limit
Employee Benefits Disclosure [Line Items]
Performance-based awards granted vesting percentage of the award amount	250.00%	250.00%	250.00%
Investment Results \| Lower Limit
Employee Benefits Disclosure [Line Items]
Performance-based awards granted vesting percentage of the award amount	0.00%	0.00%	0.00%
Investment Results \| Upper Limit
Employee Benefits Disclosure [Line Items]
Performance-based awards granted vesting percentage of the award amount	250.00%	200.00%	200.00%

Employee Benefit Plans Summary of All Employee Restricted Equity Award Activity (Detail) - Employee Restricted Equity Awards - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Number of Shares
Beginning of year	2,893,742	3,198,150	3,539,022
Add (deduct):
Granted	826,377	1,080,658	1,154,838
Vested	(1,186,442)	(1,338,466)	(1,378,070)
Forfeited	(28,015)	(46,600)	(117,640)
End of year	2,505,662	2,893,742	3,198,150
Weighted Average Grant Date Fair Value
Beginning of year	$ 101.18	$ 81.71	$ 67.24
Granted	160.13	110.93	96.54
Vested	81.84	63.10	57.79
Forfeited	111.35	84.86	72.44
End of year	$ 129.66	$ 101.18	$ 81.71
Unrecognized compensation cost related to unvested equity awards	$ 94
Period of recognition of compensation expense related to unvested equity awards	2 years 3 months 18 days
Dividend Equivalent Units
Add (deduct):
Granted	23,153	36,656	44,327
Weighted Average Grant Date Fair Value
Granted	$ 0	$ 0	$ 0
Performance Shares
Weighted Average Grant Date Fair Value
Target shares	447,819
Units expected to vest	859,619

Employee Benefit Plans Summary of all Directors' Restricted Stock Activity (Detail) - Non Employee Director Restricted Equity Awards - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Number of Shares
Beginning of year	25,075	30,439	29,206
Add (deduct):
Granted	15,553	25,075	30,439
Vested	(25,979)	(30,439)	(29,206)
End of year	14,649	25,075	30,439
Weighted Average Grant Date Fair Value
Beginning of year	$ 133.43	$ 109.75	$ 105.16
Granted	215.77	133.43	109.75
Vested	136.29	109.75	105.16
End of year	$ 215.77	$ 133.43	$ 109.75
Grants in period vested pursuant to plan terms	904
Unrecognized compensation cost related to unvested equity awards	$ 1	$ 1	$ 1

Employee Benefit Plans Assets Held in Deferral Plan Irrevocable Grantor Trust Account (Detail) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assets held in Deferral Plan Irrevocable Grantor Trust account	$ 293	$ 284
Other Investment Funds
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assets held in Deferral Plan Irrevocable Grantor Trust account	176	165
Common equities \| Progressive common shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Assets held in Deferral Plan Irrevocable Grantor Trust account	$ 117	$ 119
Common shares reserved for issuance under executive deferred compensation plan	1,138,191	1,551,846

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022	Jan. 01, 2025
Employee Benefits Disclosure [Line Items]
Minimum employment period for benefits	30 days
Postemployment benefits liability	$ 21	$ 19
Compensation, percentage	100.00%
Equity Incentive Plan Twenty Twenty Four
Employee Benefits Disclosure [Line Items]
Shares authorized	10,000,000
Share-Based Compensation Arrangement By Share Based Payment Award, Shares Transferred Into Plan	4,000,000
Equity Incentive Plan Twenty Fifteen
Employee Benefits Disclosure [Line Items]
Shares transferred out of plan	4,000,000
Number of shares available for grant	3,500,000			0
Employee Restricted Equity Awards
Employee Benefits Disclosure [Line Items]
Aggregate fair value of the restricted equity awards that vested during the period	$ 226	195	$ 154
Non Employee Director Restricted Equity Awards
Employee Benefits Disclosure [Line Items]
Vesting period of grants to date	11 months
Total pretax intrinsic value of options exercised and restricted stock vested	$ 5	4	$ 3
Non Employee Director Restricted Equity Awards \| 2017 Directors Equity Incentive Plan
Employee Benefits Disclosure [Line Items]
Shares authorized			650,000
Number of additional shares authorized			150,000
Executive Deferred Compensation Plan
Employee Benefits Disclosure [Line Items]
Common shares reserved for issuance under executive deferred compensation plan	11,000,000
Cash
Employee Benefits Disclosure [Line Items]
Compensation, percentage	40.00%
Non Employee Director Restricted Equity Awards
Employee Benefits Disclosure [Line Items]
Compensation, percentage	60.00%
Vesting tranche one \| Employee Restricted Equity Awards
Employee Benefits Disclosure [Line Items]
Vesting period of grants to date	3 years
Vesting tranche two \| Employee Restricted Equity Awards
Employee Benefits Disclosure [Line Items]
Vesting period of grants to date	4 years
Vesting tranche three \| Employee Restricted Equity Awards
Employee Benefits Disclosure [Line Items]
Vesting period of grants to date	5 years
Common equities
Employee Benefits Disclosure [Line Items]
Employee Stock Ownership Plan Shares held	17,000,000
Defined Contribution Pension Plan 401k
Employee Benefits Disclosure [Line Items]
Defined contribution plan, requisite service period	2 years
Matching contributions	$ 235	$ 206	$ 180
Defined Contribution Pension Plan 401k \| Upper Limit
Employee Benefits Disclosure [Line Items]
Matching contribution to defined contribution pension plan	6.00%

Segment Information Operating Results (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Net premiums earned	$ 70,799	$ 58,665	$ 49,241
Fees and other revenues	1,064	889	722
Total underwriting revenue	71,863	59,554	49,963
Losses (excluding catastrophe losses)	40,115	38,378	31,830
Catastrophe losses	2,514	1,794	1,660
Loss adjustment expenses	6,431	5,483	4,633
Total losses and loss adjustment expenses	49,060	45,655	38,123
Distribution expenses	9,138	5,978	5,700
Other underwriting expenses	5,707	4,929	4,076
Total underwriting expenses	14,845	10,907	9,776
Pretax underwriting profit (loss)	7,958	2,992	2,064
Investment profit (loss)	3,067	2,219	(676)
Service businesses	33	39	(3)
Interest expense	(279)	(268)	(244)
Goodwill impairment	0	0	(225)
Income before income taxes	10,713	4,904	922
Operating Segments \| Personal Lines Segment
Segment Reporting Information [Line Items]
Pretax underwriting profit (loss)			1,040
Operating Segments \| Personal Lines Segment \| Underwriting Operations
Segment Reporting Information [Line Items]
Net premiums earned	60,091	48,765	40,150
Fees and other revenues	893	740	594
Total underwriting revenue	60,984	49,505	40,744
Losses (excluding catastrophe losses)	33,684	31,509	26,158
Catastrophe losses	2,434	1,753	1,626
Loss adjustment expenses	5,325	4,487	3,788
Total losses and loss adjustment expenses	41,443	37,749	31,572
Distribution expenses	7,969	4,904	4,699
Other underwriting expenses	4,732	3,967	3,208
Total underwriting expenses	12,701	8,871	7,907
Pretax underwriting profit (loss)	6,840	2,885	1,265
Operating Segments \| Commercial Lines Segment \| Underwriting Operations
Segment Reporting Information [Line Items]
Net premiums earned	10,707	9,899	9,088
Fees and other revenues	171	149	128
Total underwriting revenue	10,878	10,048	9,216
Losses (excluding catastrophe losses)	6,421	6,866	5,669
Catastrophe losses	80	41	34
Loss adjustment expenses	1,109	993	842
Total losses and loss adjustment expenses	7,610	7,900	6,545
Distribution expenses	1,168	1,073	1,000
Other underwriting expenses	964	952	861
Total underwriting expenses	2,132	2,025	1,861
Pretax underwriting profit (loss)	1,136	123	810
Operating Segments \| Other Indemnity Segment \| Underwriting Operations
Segment Reporting Information [Line Items]
Net premiums earned	1	1	3
Fees and other revenues	0	0	0
Total underwriting revenue	1	1	3
Losses (excluding catastrophe losses)	10	3	3
Catastrophe losses	0	0	0
Loss adjustment expenses	(3)	3	3
Total losses and loss adjustment expenses	7	6	6
Distribution expenses	1	1	1
Other underwriting expenses	11	10	7
Total underwriting expenses	12	11	8
Pretax underwriting profit (loss)	$ (18)	$ (16)	$ (11)

Segment Information Underwriting Margins and Combined Ratios for our Underwriting Operations (Details) - Operating Segments - Underwriting Operations	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Underwriting Margin	11.20%	5.10%	4.20%
Combined ratio	88.80%	94.90%	95.80%
Personal Lines Segment
Segment Reporting Information [Line Items]
Underwriting Margin	11.40%	5.90%	3.20%
Combined ratio	88.60%	94.10%	96.80%
Commercial Lines Segment
Segment Reporting Information [Line Items]
Underwriting Margin	10.60%	1.20%	8.90%
Combined ratio	89.40%	98.80%	91.10%

Segment Information - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2024 USD ($) Entity	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Depreciation \| $	$ 284	$ 285	$ 306
Operating Segments \| Personal Lines Segment \| Agency Channel \| Lower Limit
Segment Reporting Information [Line Items]
Independent insurance agencies and brokerages \| Entity	40,000

Segment Information (Details) - USD ($) $ in Millions	12 Months Ended
Segment Information (Details) - USD ($) $ in Millions	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting [Abstract]
Service revenues	$ 413	$ 310	$ 300
Total net realized gains (losses) on securities	264	353	(1,912)
Net premiums earned	70,799	58,665	49,241
Investment income	2,832	1,892	1,260
Total revenues	75,372	62,109	49,611
Revenues	$ 71,863	$ 59,554	$ 49,963

Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein.

+ References + Details

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

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Other Comprehensive Income (Loss) Components of Other Comprehensive Income (Loss) Including Reclassification Adjustments by Income Statement (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2024	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss), before Tax [Roll Forward]
Pretax total accumulated other comprehensive income (loss), beginning balance		$ (2,053.0)	$ (3,557.0)	$ 52.0
Pretax total accumulated other comprehensive income (loss), Investment securities		(197.0)	1,257.0	(4,169.0)
Pretax total accumulated other comprehensive income (loss), before reclassifications	$ (197.0)		1,257.0	(4,169.0)
Pretax total accumulated other comprehensive income (loss), Net impairment losses recognized in earnings		(1.0)
Pretax total accumulated other comprehensive income (loss), Net realized gains (losses) on securities		(440.0)	(247.0)	(560.0)
Total reclassification adjustment for amounts realized in net income, before tax		(441.0)	(247.0)	(560.0)
Total other comprehensive income, before tax		244.0	1,504.0	(3,609.0)
Pretax total accumulated other comprehensive income (loss), ending balance	(1,809.0)	(1,809.0)	(2,053.0)	(3,557.0)
Accumulated Other Comprehensive Income (Loss), Tax [Roll Forward]
Total tax (provision) benefit, beginning balance		437.0	755.0	(11.0)
Total tax (provision) benefit, Investment securities		41.0	(266.0)	879.0
Total tax (provision) benefit, before reclassifications	41.0		(266.0)	879.0
Total tax (provision) benefit, Net impairment losses recognized in earnings		0.0
Total tax (provision) benefit, Net realized gains (losses) on securities		92.0	52.0	113.0
Total reclassification adjustment for amounts realized in net income, Total tax (provision) benefit		92.0	52.0	113.0
Total other comprehensive income (loss), tax (provision) benefit		(51.0)	(318.0)	766.0
Total tax (provision) benefit, ending balance	386.0	386.0	437.0	755.0
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
After tax total accumulated other comprehensive income (loss), beginning balance		(1,616.0)	(2,802.0)	41.0
After tax total accumulated other comprehensive income (loss), Investment securities		(156.0)	991.0	(3,290.0)
After tax total accumulated other comprehensive income (loss), before reclassifications	(156.0)		991.0	(3,290.0)
After tax total accumulated other comprehensive income (loss), Net impairment losses recognized in earnings		(1.0)
After tax total accumulated other comprehensive income (loss), Net realized gains (losses) on securities		(348.0)	(195.0)	(447.0)
Total reclassification adjustment for amounts realized in net income, after tax		(349.0)	(195.0)	(447.0)
Total other comprehensive income (loss), after tax		193.0	1,186.0	(2,843.0)
After tax total accumulated other comprehensive income (loss), ending balance	(1,423.0)	(1,423.0)	(1,616.0)	(2,802.0)
Total net unrealized gains (losses) on securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
After tax total accumulated other comprehensive income (loss), beginning balance		(1,601.0)	(2,787.0)	56.0
After tax total accumulated other comprehensive income (loss), Investment securities		(156.0)	991.0	(3,290.0)
After tax total accumulated other comprehensive income (loss), before reclassifications	(156.0)		991.0	(3,290.0)
After tax total accumulated other comprehensive income (loss), Net impairment losses recognized in earnings		(1.0)
After tax total accumulated other comprehensive income (loss), Net realized gains (losses) on securities		(348.0)	(195.0)	(447.0)
Total reclassification adjustment for amounts realized in net income, after tax		(349.0)	(195.0)	(447.0)
Total other comprehensive income (loss), after tax		193.0	1,186.0	(2,843.0)
After tax total accumulated other comprehensive income (loss), ending balance	(1,408.0)	(1,408.0)	(1,601.0)	(2,787.0)
Net unrealized gains (losses) on forecasted transactions
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
After tax total accumulated other comprehensive income (loss), beginning balance		(14.0)	(14.0)	(14.0)
After tax total accumulated other comprehensive income (loss), Investment securities		0.0	0.0	0.0
After tax total accumulated other comprehensive income (loss), before reclassifications	0.0		0.0	0.0
After tax total accumulated other comprehensive income (loss), Net impairment losses recognized in earnings		0.0
After tax total accumulated other comprehensive income (loss), Net realized gains (losses) on securities		0.0	0.0	0.0
Total reclassification adjustment for amounts realized in net income, after tax		0.0	0.0	0.0
Total other comprehensive income (loss), after tax		0.0	0.0	0.0
After tax total accumulated other comprehensive income (loss), ending balance	(14.0)	(14.0)	(14.0)	(14.0)
Foreign currency translation adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
After tax total accumulated other comprehensive income (loss), beginning balance		(1.0)	(1.0)	(1.0)
After tax total accumulated other comprehensive income (loss), Investment securities		0.0	0.0	0.0
After tax total accumulated other comprehensive income (loss), before reclassifications	0.0		0.0	0.0
After tax total accumulated other comprehensive income (loss), Net impairment losses recognized in earnings		0.0
After tax total accumulated other comprehensive income (loss), Net realized gains (losses) on securities		0.0	0.0	0.0
Total reclassification adjustment for amounts realized in net income, after tax		0.0	0.0	0.0
Total other comprehensive income (loss), after tax		0.0	0.0	0.0
After tax total accumulated other comprehensive income (loss), ending balance	$ (1.0)	$ (1.0)	$ (1.0)	$ (1.0)

Other Comprehensive Income (Loss) Components of Other Comprehensive Income (Loss) Including Reclassification Adjustments by Income Statement Additional Information (Detail) $ in Millions	Dec. 31, 2024 USD ($)
Upper Limit
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net	$ 1