Form 10-Q · Quarterly report
Progressive Corporation 10-Q, filed Aug 3, 2026
- Filed
- CIK
- 0000080661
- Accession no.
- 0000080661-26-000308
Summary
Progressive Corporation's insurance subsidiaries reported a companywide underwriting profit margin of 12.7% for the second quarter of 2026, with net premiums written of $21.1 billion, up 5% year over year, and policies in force surpassing the 40 million milestone. Personal Lines posted a 12.4% underwriting margin and Commercial Lines 14.7%, while net income rose $136 million year over year and total comprehensive income fell $669 million on unrealized fixed-maturity losses.
Key points
- Companywide net premiums written rose $1.0 billion, or 5%, to $21.1 billion, and net premiums earned increased 6% year over year.
- Personal Lines net premiums written grew 5% and policies in force 8%; Commercial Lines net premiums written grew 4% and policies in force 3%.
- Advertising expense was $1.4 billion, 16% higher than the prior-year quarter, adding 0.5 points to the underwriting expense ratio.
- Total capital was $42.7 billion at June 30, 2026, up $5.5 billion from year-end 2025, including $1.5 billion of senior notes issued and $1.1 billion of share repurchases.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS. I. OVERVIEW The Progressive Corporation’s insurance subsidiaries continued to generate underwriting profitability above our 4% companywide calendar-year underwriting profit goal during the second quarter 2026, producing a companywide underwriting profit margin of 12.7%. Both our Personal Lines and Commercial Lines operating segments generated strong underwriting profitability during the second quarter 2026. We also reported steady year-over-year growth in both premiums and policies in force despite increased competition in the marketplace. …
An excerpt of the text as filed with the SEC, cut for length.
Readster writes AI-generated summaries of public filings for research purposes only. Summaries can be incomplete or wrong — check the original filing on SEC.gov before relying on it. Nothing here is investment, legal or medical advice.