Progressive Corporation 8-K
Earnings
A one-time reserve methodology change improved June’s property ratios, while overall underwriting margins narrowed.
Filed 2026-07-15 09:50 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q2 and June 2026 results. Quarterly net premiums earned grew 6% Y/Y and net income grew 4%, while the combined ratio rose 1.1 percentage points. June’s property results included a one-time favorable reserve methodology adjustment that the company says will not affect future periods.
Key Figures
| Metric | Q2 2026 | Q2 2025 | Y/Y |
|---|---|---|---|
| Net premiums written | $21.1B | $20.1B | 5% |
| Net premiums earned | $21.6B | $20.3B | 6% |
| Net income | $3.31B | $3.18B | 4% |
| Per share available to common shareholders | $5.67 | $5.40 | 5% |
| Combined ratio | 87.3% | 86.2% | +110 bp |
- June net income was $779M, down 31% Y/Y; net premiums earned rose 2% to $7.10B, and the combined ratio increased to 90.0% from 86.6%. A one-time actuarial methodology change favorably affected June’s property loss and combined ratios by 11.7 points.
- YTD net income was $6.13B vs $5.74B, up 7%; net premiums earned were $42.5B vs $39.7B, up 7%.
- Progressive repurchased 845,952 shares in June at an average cost of $201.16 per share; 581.4M shares were outstanding at month-end.
Guidance
No guidance in this filing.
Investor Takeaways
- July results are scheduled for release on 8/19/2026; the next monthly report will show whether premium growth and underwriting results continue.
The summary is written by an AI model reading the filing.
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