Progressive improves combined ratio to 90% in September

By Navneeta Nandan Oct 14 (The Insurer) — The Progressive Corporation has more than doubled its net income in September 2026 and recorded pre-tax net realized gains on securities compared to losses in the prior year period, it posted on Wednesday. The US personal lines insurer reported a 10.4 percentage point improvement in its combined ratio to 90.0% in September 2026, compared with 100.4% a year ago. Its net income for the month jumped 107% to $630 million, up from $305 million in September 2025. This follows a 22% drop in net income in August 2026, with a worsened combined ratio of 89.3%. Total pre-tax net realized gains on securities stood at $138 million in 2026, while the insurer had posted a loss of $231 million a year ago. It recorded a 2% year-over-year increase in net premiums written to $7.26 billion in September 2026, compared with $7.13 billion in the prior-year period. The carrier booked $7.16 billion in net premiums earned, which is 5% more than $6.83 billion last year. The growth was driven by 6% year-over-year growth in personal lines and 5% in commercial lines. The growth in personal lines was supported by an 8% increase in direct auto and 7% in agency auto. Speci