Progressive posts August net income of $951 million, down 22% y/y
PGR•August results show higher premiums but weaker earnings
Progressive posted August 2026 net income of $951 million, down 22% from $1.22 billion a year earlier.
- Net premiums written rose 6% to $7.61 billion; net premiums earned increased 5% to $7.35 billion.
- The combined ratio worsened to 89.3 from 83.1, signaling higher underwriting costs relative to premiums.
- Total policies in force climbed 7% to 40.49 million, led by 9% growth in direct auto to 16.88 million.
- Share repurchases totaled 630,912 shares at an average cost of $210.93 per share.
