{"schema_version":"secwatch.filing_event.v1","accession":"0000080661-23-000034","form_type":"8-K","ticker":"PGR","cik":"0000080661","company_name":"PROGRESSIVE CORP/OH/","filed_at":"2023-07-13T23:59:59+00:00","discovered_at":"2026-05-14T18:03:36.693966+00:00","generated_at":"2026-06-13T09:12:37.333036+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Progressive Q2 net income $345M vs loss $543M YoY; combined ratio 100.4 vs 95.6","bullets":["June net income $40.9M ($0.06 EPS) vs loss $436.7M (-$0.75 EPS) YoY; net premiums earned +20% to $4.5B.","Q2 net premiums written $14.7B (+18% YoY); combined ratio 100.4 (4.8-point worsening from 95.6).","Unfavorable prior-accident-year reserve development of $137.8M in June, mainly personal auto severity increases.","Companywide policies in force grew 12% YoY to 29.6 million; total net realized gains $143.8M vs losses $564.2M.","Q2 combined ratio of 100.4 driven by 4.5-point catastrophe loss ratio; FY outlook not updated."],"urls":{"canonical":"https://secwatch.observer/filing/0000080661-23-000034","json":"https://secwatch.observer/filing/0000080661-23-000034.json","markdown":"https://secwatch.observer/filing/0000080661-23-000034.md","text":"https://secwatch.observer/filing/0000080661-23-000034.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/80661/000008066123000034/0000080661-23-000034-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/80661/000008066123000034/pgr-20230713.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T09:12:37.333036+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"5801ec63b48ae2246141c0c7e2448bf01ee1da9c","claim":"PROGRESSIVE CORP/OH/ reported second quarter of 2023 results: revenue $ 14,464.4, net income $ 345.4, EPS $ 0.57.","evidence_excerpt":"and ratios; unaudited) 2023 2022 Change 2023 2022 Change Net premiums written $ 4,320.1 $ 3,877.1 11 % $ 14,716.9 $ 12,422.1 18 % Net premiums earned $ 4,515.2 $ 3,770.2 20 % $ 14,464.4 $ 12,147.9 19 % Net income (loss) $ 40.9 $ (436.7) (109) % $ 345.4 $ (542.9) (164) % Per share available to common shareholders $ 0.06 $ (0.75) (109) % $ 0.57 $ (0.94) (161) %","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/80661/000008066123000034/0000080661-23-000034-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"second quarter of 2023"},{"label":"Revenue","value":"$ 14,464.4"},{"label":"Net income","value":"$ 345.4"},{"label":"EPS","value":"$ 0.57"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"9d43e18c7ddf83035e74758b0975153ff6402d78","claim":"PROGRESSIVE CORP/OH/ reported June 2023 results: revenue $ 4,515.2, net income $ 40.9, EPS $ 0.06.","evidence_excerpt":"except per share amounts and ratios; unaudited) 2023 2022 Change 2023 2022 Change Net premiums written $ 4,320.1 $ 3,877.1 11 % $ 14,716.9 $ 12,422.1 18 % Net premiums earned $ 4,515.2 $ 3,770.2 20 % $ 14,464.4 $ 12,147.9 19 % Net income (loss) $ 40.9 $ (436.7) (109) % $ 345.4 $ (542.9) (164) % Per share available to common shareholders $ 0.06 $ (0.75) (109) % $","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/80661/000008066123000034/0000080661-23-000034-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"June 2023"},{"label":"Revenue","value":"$ 4,515.2"},{"label":"Net income","value":"$ 40.9"},{"label":"EPS","value":"$ 0.06"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"de14e0018cf9d3a0271877e33434b338ef75e27f","claim":"PROGRESSIVE CORP/OH/ reported year-to-date period ended June 2023 results: revenue $ 27,997.5, net income $ 793.3, EPS $ 1.32.","evidence_excerpt":"COMPREHENSIVE INCOME STATEMENTS June 2023 (millions) (unaudited) Year-to-Date 2023 2022 % Change Net premiums written $ 30,826.6 $ 25,603.1 20 Revenues: Net premiums earned $ 27,997.5 $ 23,950.8 17 Investment income 874.1 534.6 64 Net realized gains (losses) on securities: Net realized gains (losses) on security sales 104.8 492.1 (79) Net holding period gains","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/80661/000008066123000034/0000080661-23-000034-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"year-to-date period ended June 2023"},{"label":"Revenue","value":"$ 27,997.5"},{"label":"Net income","value":"$ 793.3"},{"label":"EPS","value":"$ 1.32"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}