No. of Recommendations: 8
The Progressive Corporation (PGR) reported solid top-line premium growth for August 2026, but a higher combined ratio dragged down overall profitability.
Net premiums written rose 6% Y/Y to $7.61B for the month, while net premiums earned increased 5% to $7.35B.
Net income fell 22% to $951M, or $1.63 per share, compared with $1.22B, or $2.07 per share, in August 2025.
The combined ratio rose 6.2 percentage points to 89.3% from 83.1%, signaling increased underwriting costs during the period.
seekingalpha.com - Progressive reports august premium growth net income drops toA very sharp rise in CR, but still very profitable. Don’t recall it rising so much in recent years. Geico results too might not be great.
