Progressive (NYSE:PGR) reported June 2026 and second-quarter 2026 results. For June, net premiums written were $6.8 billion, up 3% year over year, and net premiums earned were $7.1 billion, up 2%. Monthly net income fell 31% to $779 million, with earnings per share decreasing 30% to $1.34. The June combined ratio rose to 90.0 from 86.6.
For the quarter, net premiums written grew 5% to $21.1 billion and net premiums earned increased 6% to $21.6 billion. Quarterly net income rose 4% to $3.3 billion, and EPS increased 5% to $5.67. The quarterly combined ratio was 87.3, up from 86.2. Policies in force at June 30, 2026 reached 40.1 million, a 7% increase, led by 8–10% growth in personal auto and 3% growth in commercial lines.
Net premiums written (quarter) up 5% to $21.1 billion
Policies in force up 7% to 40.1 million
Direct auto policies up 10% year over year
Pretax realized gains (quarter) up 56% to $604 million
Negative
June net income down 31% to $779 million
June EPS down 30% to $1.34
June combined ratio worsened 3.4 points to 90.0
Quarterly combined ratio up 1.1 points to 87.3
June pretax realized result swung to $13 million loss from $179 million gain
Market Context
Viewed against prior news where several positive monthly updates produced only small price changes, ...
Analysis
Viewed against prior news where several positive monthly updates produced only small price changes, this June results release fits a pattern of contained market reactions. Low reported short interest and recent net insider selling add context to how durable sentiment may be after operational data.
Key Figures
Net premiums written (June):$6,772M (3% YoY)Net premiums written (quarter):$21,077M (5% YoY)Net income (June):$779M (31% YoY decline)+5 more
8 metrics
Net premiums written (June)$6,772M (3% YoY)Month ended June 30, 2026 vs June 2025
Net premiums written (quarter)$21,077M (5% YoY)Quarter ended June 30, 2026 vs Q2 2025
Net income (June)$779M (31% YoY decline)Month ended June 30, 2026 vs June 2025
EPS (June)$1.34 (30% YoY decline)Per share available to common shareholders, June 2026 vs June 2025
Net income (quarter)$3,311M (4% YoY increase)Quarter ended June 30, 2026 vs Q2 2025
Combined ratio (June)90.0 vs 86.6 (3.4 pts higher)Month ended June 30, 2026 vs June 2025
Net premiums earned (quarter)$21,573M (6% YoY)Quarter ended June 30, 2026 vs Q2 2025
Policies in force (total)40,086K vs 37,315K (7% YoY)Total policies in force as of June 30, 2026 vs 2025
UpPayment down payment assistance program expanded to support more first-time homebuyers.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Pattern Detected
Recent Progressive news, including monthly results and strategic updates, has typically led to very small share-price moves, with several positive updates followed by slight declines.
Key Terms
net premiums written, net premiums earned, combined ratio, policies in force, +1 more
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.
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 ratiofinancial
"Combined ratio | | 90.0 | | 86.6 | | 3.4 | 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 forcefinancial
"Policies in Force Personal Lines Agency – auto | 11,211 | | 10,423"
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.
A measure of how many common shares would exist if every right or instrument that can become common stock — such as stock options, warrants, convertible bonds or preferred shares — were actually converted or exercised. Think of it like counting how many slices of a pie there would be if every coupon-holder showed up; it reduces the size of each existing slice. Investors use this number to see a more realistic, often smaller, per-share claim on profits and ownership, which affects metrics like earnings per share and dilution risk.
MAYFIELD VILLAGE, OHIO, July 15, 2026 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month and quarter ended June 30, 2026:
June
Quarter
(millions, except per share amounts and ratios; unaudited)
2026
2025
Change
2026
2025
Change
Net premiums written
$
6,772
$
6,605
3
%
$
21,077
$
20,076
5
%
Net premiums earned
$
7,100
$
6,954
2
%
$
21,573
$
20,310
6
%
Net income
$
779
$
1,124
(31)
%
$
3,311
$
3,175
4
%
Per share available to common shareholders
$
1.34
$
1.91
(30)
%
$
5.67
$
5.40
5
%
Total pretax net realized gains (losses) on securities
$
(13)
$
179
(107)
%
$
604
$
387
56
%
Combined ratio
90.0
86.6
3.4
pts.
87.3
86.2
1.1
pts.
Average diluted equivalent common shares
583.1
588.0
(1)
%
584.2
587.8
(1)
%
June 30,
(thousands; unaudited)
2026
2025
% Change
Policies in Force
Personal Lines
Agency – auto
11,211
10,423
8
Direct – auto
16,721
15,245
10
Special lines
7,297
6,850
7
Property
3,631
3,608
1
Total Personal Lines
38,860
36,126
8
Commercial Lines
1,226
1,189
3
Total
40,086
37,315
7
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 a leading seller of personal auto, commercial auto, motorcycle, and boat insurance, and one of the top 15 homeowners insurance carriers in the United States.
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.
What were Progressive (PGR) June 2026 monthly earnings results?
Progressive reported June 2026 net income of $779 million and earnings per share of $1.34. According to Progressive, net premiums written were $6.8 billion and net premiums earned were $7.1 billion, with a combined ratio of 90.0.
How did Progressive (PGR) perform in the second quarter of 2026?
Progressive reported second-quarter 2026 net income of $3.3 billion, up 4% year over year. According to Progressive, quarterly earnings per share were $5.67, net premiums written reached $21.1 billion, and the combined ratio was 87.3, compared with 86.2 in 2025.
What happened to Progressive (PGR) combined ratio in June and Q2 2026?
Progressive’s combined ratio rose to 90.0 in June 2026 and 87.3 for Q2 2026. According to Progressive, this compares with 86.6 for June 2025 and 86.2 for Q2 2025, indicating higher underwriting ratios year over year.
How many policies in force did Progressive (PGR) have at June 30, 2026?
Progressive had 40.1 million policies in force at June 30, 2026, a 7% increase year over year. According to Progressive, personal lines policies rose to 38.9 million and commercial lines policies reached 1.2 million over the same period.
How did Progressive’s auto insurance policies change in June 2026 versus 2025?
Progressive’s agency auto policies in force grew 8% to 11.2 million, while direct auto policies increased 10% to 16.7 million. According to Progressive, total personal lines policies in force rose 8% year over year to 38.9 million by June 30, 2026.
What were Progressive (PGR) realized gains and losses in June and Q2 2026?
Progressive reported a June 2026 pretax net realized loss of $13 million versus a $179 million gain in 2025. According to Progressive, Q2 2026 pretax net realized gains were $604 million, up 56% from $387 million in the prior year quarter.
Did Progressive (PGR) grow net premiums in the second quarter of 2026?
Yes, Progressive grew Q2 2026 net premiums written to $21.1 billion, up 5% from 2025. According to Progressive, net premiums earned increased 6% to $21.6 billion, reflecting continued expansion across personal and commercial lines policies in force.
