First quarter 2026 net income at Progressive Corp. increased 10% compared to the same period a year ago to nearly $2.8 billion.
Progressive reports results monthly. Net income for March was up 36% to about $712 million.
The Mayfield Village, Ohio-based insurer’s Q1 2026 combined ratio was 86.4 compared with Q1 2025’s result of 86.0. Net premiums written (NPW) in Q1 were about $23.6 billion, an increase of 6% compared to the same time period the prior year.
Year-to-date Progressive NPW growth in personal lines was of 7% to about $19.6 billion, with 10% growth in direct-channel auto and 5% growth in the agency channel. Personal property NPW decreased 5% to $693 million in Q1 2026 compared with Q1 2025.
The Q1 combined ratio in personal property was 78.3, with 12.5 points of net catastrophe loss ratio.
The insurer’s commercial lines business grew NPW 3% in Q1 to about $4 billion.
Progressive’s investor call on Q1 is May 5.
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