Earnings ·
Progressive reports August net income declines 22% to $951 million, repurchases shares at $210.93 average cost
PGRProgressive Corp
The Progressive Corporation filed a Form 8-K on September 18, 2026, to disclose financial results for the month and year-to-date periods ended August 31, 2026. For the month of August, net premiums written increased 6% to $7,605 million, while net income declined 22% to $951 million compared to the prior year period. The combined ratio widened by 6.2 percentage points to 89.3, driven by a higher loss and LAE ratio of 68.8%. Year-to-date net premiums written grew 6% to $59,764 million, with total policies in force increasing 7% to 40,492 thousand. The company also reported repurchasing 630,912 common shares at an average cost of $210.93 per share during the month. Progressive operates as a leading provider of personal and commercial property-casualty insurance in the United States.