Progressive Reports January 2026 Results

Rhea-AI Summary

Progressive (NYSE:PGR) reported January 2026 monthly results showing modest growth in premiums and earnings versus January 2025. Key figures: net premiums written $6,735M (+4%), net premiums earned $6,921M (+5%), net income $1,163M (+4%), and a combined ratio 84.4.

Policies in force rose 10% year-over-year to 38,875 thousand, led by direct auto and agency auto growth.

Key Figures

Net premiums written: $6,735M Net premiums earned: $6,921M Net income: $1,163M +5 more

8 metrics

Net premiums written $6,735M January 2026 vs $6,481M in January 2025 (4% increase)

Net premiums earned $6,921M January 2026 vs $6,586M in January 2025 (5% increase)

Net income $1,163M January 2026 vs $1,117M in January 2025 (4% increase)

EPS (diluted, common) $1.98 Per share available to common shareholders vs $1.90 in January 2025 (4% increase)

Realized gains on securities $103M Total pretax net realized gains January 2026 vs $109M in January 2025 (down 6%)

Combined ratio 84.4 January 2026 vs 84.1 in January 2025 (up 0.3 points)

Policies in force (total) 38,875K Total policies in force at January 31, 2026 vs 35,327K in 2025 (10% increase)

Total Personal Lines policies 37,686K Personal Lines policies in force at January 31, 2026 vs 34,181K in 2025 (10% increase)

Market Reality Check

Price: $203.28 Vol: Volume 2,579,940 vs 20-da...

low vol

$203.28 Last Close

Volume Volume 2,579,940 vs 20-day average 3,949,883, with relative volume at 0.65x indicating lighter-than-average trading before this update. low

Technical Shares at $207.90, trading below the 200-day MA of $239.81 and well under the $292.99 52-week high.

Peers on Argus

Key peers in property & casualty insurance were also positive (e.g., CB +1.18%, ...

Key peers in property & casualty insurance were also positive (e.g., CB +1.18%, ALL +1.04%, CINF +1.21%, TRV +0.74%, HIG +0.46%), but the momentum scanner did not flag a coordinated sector move for this period.

Historical Context

5 past events · Latest: Jan 28 (Neutral)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 28	CFO transition	Neutral	+2.2%	Announced planned retirement of long-time CFO and internal successor selection.
Jan 28	Monthly/quarter results	Positive	+2.2%	Quarter premiums and net income rose double digits with higher EPS and policies.
Jan 20	Product launch	Positive	+0.8%	Introduced Progressive-branded pet insurance with nationwide rollout expected in 2026.
Dec 17	Monthly results	Negative	-2.0%	November results showed lower EPS and net income with a higher combined ratio.
Dec 09	Partnership announcement	Positive	+1.4%	Expanded Best Egg loan access within Progressive’s ecosystem to deepen engagement.

Pattern Detected

Recent news, including monthly results and product/partnership announcements, has generally seen share-price moves that align with the underlying news tone.

Recent Company History

Over the last few months, Progressive has reported steady growth and strategic activity. November and December 2025 monthly results showed rising net premiums earned and strong net income, albeit with some combined-ratio pressure. The company also expanded its ecosystem via a Best Egg personal-loan partnership and launched pet insurance across much of the U.S. A planned CFO transition to an internal successor was announced on Jan 28, 2026. January 2026 monthly figures continue this pattern of year-over-year premium and policy growth.

Market Pulse Summary

This announcement details January 2026 operating metrics, showing year-over-year growth in net premi...

Analysis

This announcement details January 2026 operating metrics, showing year-over-year growth in net premiums written, net premiums earned, net income, and policies in force, alongside a modest uptick in the combined ratio and slightly lower realized investment gains. In context of recent monthly releases and strategic initiatives, it reinforces Progressive’s expansion across personal and commercial lines. Investors may watch future months’ combined ratios, premium growth, investment gains, and policy counts to assess whether these trends persist and how they balance growth with underwriting profitability.

Key Terms

net premiums written, net premiums earned, combined ratio, policies in force

4 terms

net premiums written financial

"Net premiums written | $6,735 | | $6,481 | | 4 | | %"

Net premiums written is the total amount of insurance premium a company has agreed to collect from customers for new and renewed policies during a period, after subtracting premiums it passes on to other insurers (reinsurance) and cancellations. It matters to investors because it shows the insurer’s actual sales growth and risk retained—like a retailer’s sales after returns and wholesale transfers—so rising net premiums written can signal stronger future revenue and underwriting exposure.

net premiums earned financial

"Net premiums earned | $6,921 | | $6,586 | | 5 | | %"

The portion of insurance premiums that a company recognizes as revenue for a specific accounting period after subtracting any amounts paid to other insurers for reinsurance; it represents the cost of insurance coverage actually provided during that time. Think of a year‑long subscription where only the months used are counted as income. Investors watch net premiums earned to gauge an insurer’s revenue growth and underwriting performance, separate from one‑time sales or changes in policy counts.

combined ratio financial

"Combined ratio | | 84.4 | | 84.1 | | 0.3 | | pts."

The combined ratio is a way insurance companies measure how well they are doing by adding up all their costs and claims and comparing them to the money they earn from premiums. If the ratio is below 100%, it means the company is making a profit; if it's above 100%, they are losing money. It helps see if an insurance company is financially healthy or not.

policies in force financial

"(thousands; unaudited) | 2026 | | 2025 | | % Change Policies in Force"

Policies in force are the insurance contracts that are currently active and able to pay claims, similar to the number of active subscriptions a company has. For investors, they show the scale of an insurer’s current business and help indicate potential future revenue from premiums and ongoing exposure to claims; rising counts suggest growth, while shrinking counts can signal lapses or reduced future income.

AI-generated analysis. Not financial advice.

MAYFIELD VILLAGE, OHIO, Feb. 18, 2026 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month ended January 31, 2026:

	January
(millions, except per share amounts and ratios; unaudited)	2026			2025			Change
Net premiums written	$	6,735		$	6,481		4		%
Net premiums earned	$	6,921		$	6,586		5		%
Net income	$	1,163		$	1,117		4		%
Per share available to common shareholders	$	1.98		$	1.90		4		%
Total pretax net realized gains (losses) on securities	$	103		$	109		(6	)	%
Combined ratio		84.4			84.1		0.3		pts.
Average diluted equivalent common shares		587.7			587.7		0		%

	January 31,
(thousands; unaudited)	2026		2025		% Change
Policies in Force
Personal Lines
Agency – auto	10,855		9,882		10
Direct – auto	16,164		14,224		14
Special lines	7,012		6,540		7
Property	3,655		3,535		3
Total Personal Lines	37,686		34,181		10
Commercial Lines	1,189		1,146		4
Total	38,875		35,327		10

See Progressive’s complete monthly earnings release for additional information.

About Progressive

Progressive Insurance^® makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. Progressive offers choices so consumers can reach us however it’s most convenient for them — online at progressive.com, by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, or in-person with a local agent.

Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the second largest personal auto insurer in the country, a leading seller of commercial auto, motorcycle, and boat insurance, and one of the top 15 homeowners insurance carriers. 

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price^®, Snapshot^®, and HomeQuote Explorer^®.

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE: PGR.

Company Contact:
Douglas S. Constantine
(440) 395-3707
investor_relations@progressive.com
 
The Progressive Corporation
300 North Commons Blvd.
Mayfield Village, Ohio  44143
http://www.progressive.com

Download PDF: Progressive January 2026 Complete Earnings Release

FAQ

What were Progressive's net premiums written for January 2026 (PGR)?

Progressive reported $6,735 million in net premiums written for January 2026, a 4% increase year-over-year. According to the company, this reflects continued premium growth versus January 2025.

How much net income did Progressive (PGR) record in January 2026?

Progressive recorded $1,163 million of net income for January 2026, up 4% from January 2025. According to the company, earnings growth paralleled modest premium increases.

What was Progressive's combined ratio for January 2026 and how did it change?

Progressive reported a combined ratio of 84.4 for January 2026, a 0.3-point increase from January 2025. According to the company, the combined ratio remained in the mid-80s, indicating underwriting profitability.

How many policies in force did Progressive (PGR) report as of January 31, 2026?

Progressive reported 38,875 thousand policies in force as of January 31, 2026, a 10% increase year-over-year. According to the company, growth was led by direct auto and agency auto policies.

What were Progressive's net premiums earned for January 2026 (PGR)?

Progressive reported $6,921 million of net premiums earned in January 2026, a 5% increase over January 2025. According to the company, earned premium gains supported the month’s revenue expansion.

Did Progressive report any significant securities gains or losses in January 2026?

Progressive reported $103 million of pretax net realized gains on securities in January 2026, down from $109 million in January 2025. According to the company, realized gains were slightly lower year-over-year.