Progressive posts August net income of $951 million, down 22% y/y

Progressive posted August 2026 net income of $951 million, down 22% from $1.22 billion a year earlier. Net premiums written rose 6% to $7.61 billion; net premiums earned increased 5% to $7.35 billion. Combined ratio worsened to 89.3 from 83.1, signaling higher underwriting costs relative to premiums. Total policies in force climbed 7% to 40.49 million, led by 9% growth in direct auto to 16.88 million. Share repurchases totaled 630,912 shares at an average cost of $210.93 per share. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Progressive Corporation published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0000080661-26-000322), on September 18, 2026, and is solely responsible for the information contained therein. (C)