Progressive Corp

Company facts

Industry

Fire, Marine & Casualty Insurance

Headquarters

Mayfield Village, Ohio

Most recent report

8-K, filed Aug 19, 2026

Incorporated

Ohio

Filings on record

1,000+ filings

On EDGAR

CIK 80661

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 3 of 11 sections worth reading, with 5 positive, 7 notable, and 4 negative flags.

• Financial Statements (Item 1)

  Core financials: income, balance sheet, cash flows, and key segment data.
  Notable

  • Litigation: class actions certified over vehicle valuation in 3 states; risk quantified as possible.

• Management's Discussion (Item 2)

  Comprehensive MD&A with key financial results, margin changes, retention trends, and capital actions.
  Positive

  • Companywide underwriting profit margin 12.7% in Q2 2026, above 4% goal.
  • Net premiums written $21.1B, up 5% year over year in Q2 2026.
  • Surpassed 40 million policies in force, adding 0.5 million in Q2 2026.
  • Commercial Lines underwriting margin rose to 14.7% from 13.2% in Q2 2025.
  • Net income increased $136M year over year in Q2 2026, driven by investment income.
  Notable

  • Issued $1.5B senior notes in Q1 2026 and repurchased $1.1B common shares in H1 2026.
  • Advertising expense $1.4B, up 16% year over year in Q2 2026, pressuring expense ratio.
  • Snapshot adoption among new personal auto consumers fell 3% in direct and 8% in agency in Q2 2026.
  • Paid $1.2B Florida policyholder credits in Q1 2026, reducing operating cash flow.
  • Entered new per occurrence reinsurance contracts for personal property in Q2 2026.
  Negative

  • Personal Lines underwriting margin fell to 12.4% from 14.0% in Q2 2025.
  • Total comprehensive income decreased $669M in Q2 2026 on net unrealized losses.
  • Personal auto policy life expectancy down 8% (12-month) and 9% (3-month) in Q2 2026.
  • Fixed-maturity portfolio had $832M after-tax net unrealized loss at June 30, 2026, vs $117M gain at Dec 31, 2025.

• Unregistered Sales and Repurchases (Item 2)

  New buyback authorization and increased repurchase pace with specific numbers.
  Notable

  • Board authorized a new 25 million share buyback in May 2026, terminating the prior authorization with 20.9 million shares left.

What changed: Jun 2026 vs. Mar 2026

About 13% of PGR's Jun 2026 10-Q is new information. 49 paragraphs were added, 170 changed, and 75 removed. Below are the most important lines SECSift identified.

• Item 2 133
• Item 1 51
• Item 6 2
• Item 3 1
• Item 5 1