Form 10-Q · Quarterly report
Progressive Corporation 10-Q, filed Nov 2, 2026
- Filed
- CIK
- 0000080661
- Accession no.
- 0000080661-26-000379
Summary
Progressive Corporation reported a companywide underwriting profit margin of 11.3% for the third quarter of 2026, with net premiums written of $22.3 billion, up 4% from a year earlier. Net income declined $73 million year over year and total comprehensive income fell $2.254 billion, driven primarily by net unrealized losses on fixed-maturity securities compared with gains a year earlier.
Key points
- Policies in force rose 6%, or 2.4 million policies, from September 30, 2025.
- Personal Lines generated a 12.0% underwriting profit margin versus 10.5% a year earlier, while Commercial Lines generated 7.4% versus 10.8%.
- Total capital was $42.9 billion at September 30, 2026, up $5.7 billion from year-end 2025, helped by $5.8 billion of comprehensive income and $1.5 billion of senior notes issued in the first quarter.
- Progressive repurchased 7.7 million common shares for $1.6 billion, and advertising expense was $1.6 billion, 18% higher than the prior-year quarter.
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 third quarter 2026, producing a companywide underwriting profit margin of 11.3%. Both our Personal Lines and Commercial Lines operating segments generated strong underwriting profitability during the third quarter 2026. …
An excerpt of the text as filed with the SEC, cut for length.
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