Progressive Q2 Net Income Down 31% to $779M; Premiums Up 5%

Progressive reported Q2 2026 financial results, with net income decreasing 31% to $779 million and diluted EPS falling 30% to $1.34. This decline occurred despite a 5% increase in net premiums written to $21.08 billion and a 6% rise in net premiums earned to $21.57 billion. The combined ratio worsened by 3.4 points to 90.0%. Year-to-date, net income increased 7% to $6.13 billion, and total policies in force grew 7% to 40.09 million.