Progressive CorpPGR
▼ NegativeCapitalrelevance
Combined ratio widened to 87.3 from 86.2, signaling weaker underwriting profitability.
Impact on stocks 1
Financials
Progressive CorpProgressive's combined ratio widened to 87.1 last quarter
Earnings
Progressive's combined ratio rose to 87.3 in the second quarter of 2026, up from 86.2 a year earlier, signaling a potential trade-off between growth and underwriting profitability. Net premiums written grew 6% in the first half of 2026, a sharp slowdown from 15% growth in the same period of 2025. The company's investment portfolio, valued at over $97 billion, generated $979 million in revenue during the quarter. Management's long-term combined ratio target remains 96 or below, and the current level, while higher, still indicates profitable policies.
Progressive CorpCombined ratio widened to 87.3 from 86.2, signaling weaker underwriting profitability.