Progressive Reports February 2026 Results

Core Viewpoint - The Progressive Corporation reported strong financial results for February 2026, showing growth in net premiums written, net premiums earned, and net income compared to February 2025, despite a slight increase in the combined ratio and a significant improvement in net realized gains on securities [1]. Financial Performance - Net premiums written increased to $6,995 million in February 2026 from $6,684 million in February 2025, reflecting a 5% growth [1]. - Net premiums earned rose to $6,528 million, up 8% from $6,036 million in the previous year [1]. - Net income for February 2026 was $943 million, a 2% increase from $928 million in February 2025 [1]. - Earnings per share available to common shareholders increased to $1.61, up 2% from $1.58 [1]. - Total pretax net realized losses on securities improved significantly to a loss of $5 million from a loss of $110 million, marking a 95% improvement [1]. - The combined ratio increased to 85.7 from 82.6, reflecting a 3.1 percentage point rise [1]. Policy Growth - The total number of policies in force increased to 39,220 thousand in February 2026, a 10% increase from 35,620 thousand in February 2025 [1]. - Personal lines policies grew to 38,032 thousand, up 10% from 34,469 thousand [1]. - Agency auto policies rose to 10,959 thousand, a 10% increase, while direct auto policies increased by 14% to 16,383 thousand [1]. - Special lines policies grew by 7% to 7,041 thousand, and property policies increased by 3% to 3,649 thousand [1]. - Commercial lines policies saw a 3% increase to 1,188 thousand [1].