The Progressive Corporation (NYSE: PGR) said July net premiums written rose 5% year-over-year to $7.4 billion, up from $7.1 billion in the same month a year earlier. Net income declined 12% to $961 million from $1.09 billion in July 2025, while earnings per share fell 11% to $1.65 from $1.85.
Net premiums earned increased 5% to $7.4 billion, compared with $6.99 billion in the prior-year period. The combined ratio rose to 86.8 from 85.3, reflecting a 1.5 percentage-point increase. Pretax net realized losses on securities totaled $47 million in July 2026, versus gains of $79 million in July 2025.
Total policies in force grew 7% to 40.3 million as of July 31, 2026, compared with 37.6 million a year earlier. Personal lines policies climbed 7% to 39.1 million, driven by a 9% rise in direct auto policies to 16.8 million and a 7% increase in agency auto policies to 11.3 million. Special lines policies advanced 6% to 7.4 million, while property policies held steady at 3.6 million. Commercial lines policies rose 4% to 1.2 million.
Average diluted equivalent common shares decreased 1% to 582.9 million from 588.2 million a year prior. Based in Mayfield Village, Ohio, Progressive provides insurance for personal and commercial vehicles, motorcycles, boats, recreational vehicles and homes.
