Progressive Corporation 8-K
Securities gains swung to losses and underwriting margins narrowed, cutting July profit despite favorable prior-accident-year development.
Filed 2026-08-19 09:08 ET
- 7.01 Regulation FD Disclosure
- 9.01 Financial Statements and Exhibits
Summary
July 2026 and year-to-date results. July net premiums written rose 5% Y/Y, while net income fell 12%; the combined ratio increased 1.5 points. YTD net income and premiums earned increased.
Key Figures
| Metric | July 2026 | July 2025 | Y/Y |
|---|---|---|---|
| Net premiums written | $7.44B | $7.06B | +5% |
| Net premiums earned | $7.36B | $6.99B | +5% |
| Net income | $961M | $1.09B | (12)% |
| Per share available to common shareholders | $1.65 | $1.85 | (11)% |
| Total pretax net realized gains (losses) on securities | $(47)M | $79M | n/m |
| Combined ratio | 86.8% | 85.3% | +150 bp |
| Total policies in force | 40.3M | 37.6M | +7% |
| Average diluted equivalent common shares | 582.9M | 588.2M | (1)% |
- YTD net premiums written were $52.2B vs $49.3B (+5.72%); net premiums earned were $49.9B vs $46.7B (+6.83%); net income was $7.09B vs $6.83B (+3.78%); diluted EPS was $12.12 vs $11.62 (+4.30%).
- July included $260M of favorable prior-accident-year development and a 2.1% catastrophe loss ratio. YTD favorable prior-year development was $1.26B; the YTD combined ratio was 86.9%.
- Progressive repurchased 650,241 shares in July at an average $209.46 per share. July 31 debt was $8.39B and shares outstanding were 581.1M.
Guidance
No guidance in this filing.
Investor Takeaways
- August results are scheduled for release on 09/18/2026 before the market opens.
The summary is written by an AI model reading the filing.
Model 005 · prompt 01d34d48e3