Progressive posts 22% drop in net income in August

By Navneeta Nandan Sept 18 (The Insurer) — The Progressive Corporation reported a 22% drop in its net income, with a worsened combined ratio of 89.3% in August 2026, the US personal lines insurer said on Friday. Net income fell to $951 million in the month, down from $1.22 billion in August 2025. Its combined ratio deteriorated 6.2 points to 89.3%, compared to 83.1% in the prior-year period. The insurer recorded a 6% year-over-year increase in its net premiums written to $7.61 billion in August 2026, up from $7.20 billion in the previous year. The carrier booked $7.35 billion in net premiums earned in the month, which is 5% higher year over year than $7.04 billion in August 2025. The growth was driven by 7% year-over-year growth in personal lines and 4% in commercial lines. The growth in personal lines was supported by a 9% increase in direct auto and a 7% increase in agency auto. Special lines contributed with a 6% rise, while property lines did not grow compared to a year ago.