Progressive Corporation 8-K
Severe U.S. weather contributed to catastrophe losses as underwriting margins narrowed despite premium growth.
Filed 2026-09-18 08:38 ET
- 7.01 Regulation FD Disclosure
- 9.01 Financial Statements and Exhibits
Summary
August 2026 monthly and year-to-date results. August net income fell 22% Y/Y as the combined ratio increased 620 bp; premiums written and earned grew. Progressive cited severe weather across the U.S. among August’s catastrophe losses.
Key Figures
| Metric | August 2026 | August 2025 | Y/Y |
|---|---|---|---|
| Net premiums written | $7.61B | $7.20B | 6% |
| Net premiums earned | $7.35B | $7.04B | 5% |
| Net income | $951M | $1.22B | (22)% |
| Diluted EPS | $1.63 | $2.07 | (21)% |
| Combined ratio | 89.3% | 83.1% | +620 bp |
| Total policies in force | 40.5M | 37.9M | 7% |
| Average diluted equivalent shares | 582.1M | 588.1M | (1)% |
| Metric | YTD 2026 | YTD 2025 | Y/Y |
|---|---|---|---|
| Net premiums written | $59.8B | $56.5B | 5.7% |
| Net premiums earned | $57.3B | $53.7B | 6.5% |
| Total revenues | $61.6B | $57.5B | 7.0% |
| Net income | $8.04B | $8.05B | (0.1)% |
| Diluted EPS | $13.75 | $13.69 | 0.4% |
- August’s companywide net catastrophe loss ratio was 1.9%; Progressive reported severe-weather losses throughout the U.S. Favorable prior-accident-year development was $131M for August and $1.39B YTD.
- Progressive repurchased 630,912 shares in August at an average cost of $210.93 per share; 580.4M common shares were outstanding at month-end. Debt was $8.39B at August 31.
Guidance
No guidance in this filing.
Investor Takeaways
- September results are scheduled for release before market open on 10/14/2026; the next combined ratio and catastrophe-loss figures will show how August’s underwriting results carry forward.
The summary is written by an AI model reading the filing.
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