Progressive posts lower June net income but quarterly earnings rise

The Progressive Corporation (NYSE: PGR) reported net income of $779 million for June 2026, a 31% decline from $1.124 billion in June 2025, according to a press release from the Mayfield Village, Ohio-based insurer.

For the second quarter ended June 30, 2026, net income rose 4% to $3.311 billion from $3.175 billion in the same period a year earlier. Earnings per diluted share for the quarter were $5.67, compared with $5.40 in the second quarter of 2025.

Net premiums written in June 2026 totaled $6.772 billion, up 3% from $6.605 billion in June 2025. For the quarter, net premiums written rose 5% to $21.077 billion from $20.076 billion.

The combined ratio for June 2026 was 90.0, compared with 86.6 in June 2025, a deterioration of 3.4 percentage points. The quarterly combined ratio was 87.3, up 1.1 points from 86.2 in the prior-year quarter.

Progressive recorded a pretax net realized loss on securities of $13 million in June 2026, compared with a gain of $179 million in June 2025. For the quarter, realized gains totaled $604 million, up 56% from $387 million a year earlier.

Total policies in force as of June 30, 2026, reached approximately 40.086 million, a 7% increase from 37.315 million a year earlier. Personal lines policies grew 8% to 38.860 million, while commercial lines policies rose 3% to 1.226 million.

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