Progressive reports April 2026 net income up 10% to $1.1B; combined ratio rises 5.3 pts to 90.2

Filed May 20, 2026 · Period ending May 20, 2026 · ~1 min read

Key Changes

• high

  Net income rose 10% YoY to $1,087M ($1.86/share) despite combined ratio deteriorating to 90.2 from 84.9, driven by elevated catastrophe losses from hail and thunderstorm events across the U.S.

  Exhibit 99 verify on EDGAR →
• high

  Catastrophe losses hit 7.0% of net premiums earned in April (vs. 0.5% prior year), with Direct auto segment bearing the brunt at 28.9% catastrophe loss ratio.

  Exhibit 99 verify on EDGAR →
• medium

  Net premiums written grew 6% to $7.3B with policies in force up 8% to 39.8M; Direct auto policies grew fastest at 11% while property policies grew only 1%.

  Exhibit 99 verify on EDGAR →