The Progressive Corporation (NYSE: PGR) reported unaudited financial results for the month and year-to-date periods ended August 31, 2026, in a filing dated September 18, 2026.
For the month of August 2026, the company recorded net premiums written of $7.605 billion, a 6% increase compared to the same period in 2025. Net premiums earned were $7.354 billion, up 5% year-over-year. However, net income for the month was $951 million, a decline of 22% from $1.220 billion in August 2025. On a per-share basis, diluted earnings were $1.63, down 21% from $2.07 in the prior year.
The company reported a combined ratio of 89.3% for August 2026, an increase of 6.2 percentage points from 83.1% in August 2025. This deterioration was driven by a loss and loss adjustment expense (LAE) ratio of 68.8% and an expense ratio of 20.5%. The company noted that it incurred catastrophe losses related to severe weather throughout the United States during the month.
For the year-to-date period, net premiums written totaled $59.764 billion, a 6% increase from $56.538 billion in the prior year. Net premiums earned were $57.250 billion, representing 7% growth. Net income for the year-to-date was $8.041 billion, a slight decrease from $8.052 billion in the same period of 2025. Diluted earnings per share were $13.75, down from $13.69 in 2025. The year-to-date combined ratio was 87.2%.
Regarding its investment portfolio, the company reported a fully taxable equivalent total return of 0.4% for August 2026, compared to 5.6% in the prior year. For the year-to-date, the total return was 1.3%, compared to 5.6% in 2025. As of August 31, 2026, the company held $99.672 billion in total investments, with a debt-to-total capital ratio of 19.2%.
The company plans to release September results on Wednesday, October 14, 2026, before the market opens.
