Progressive Corporation, the Mayfield Village, Ohio, auto and home insurer, reported on Wednesday, October 14, net income of $2,542 million for the third quarter of 2026, compared with $2,615 million a year earlier, a decrease of 3%. Earnings per share available to common shareholders were $4.37, down from $4.45. The figures are unaudited.
Net premiums written, the premiums the company wrote in the period, rose 4% to $22,301 million from $21,384 million. Net premiums earned rose 5% to $21,869 million. The company’s combined ratio, a measure in which a figure below 100 indicates an underwriting profit, was 88.7, compared with 89.5 a year earlier.
Progressive also reported a pretax net realized loss on securities of $170 million for the quarter, against a gain of $295 million in the third quarter of 2025.
For September alone, net income was $630 million, up 107% from $305 million in September 2025, and earnings per share were $1.08, compared with $0.52. Net premiums written were $7,255 million, up 2% from $7,128 million. The September combined ratio was 90.0, compared with 100.4 a year earlier.
At September 30, the company had 40,489 thousand policies in force, up 6% from 38,078 thousand a year earlier. Personal Lines accounted for 39,237 thousand of the total, including 16,848 thousand direct auto and 11,347 thousand agency auto policies, and Commercial Lines for 1,252 thousand.
The Associated Press, using data from Zacks Investment Research, reported the same $4.37 per-share result and said Progressive’s adjusted earnings were $4.60 per share. It put revenue at $23.19 billion.