---
schema_version: "secwatch.filing_event.v1"
accession: "0000080661-24-000002"
form_type: "8-K"
ticker: "PGR"
cik: "0000080661"
company_name: "PROGRESSIVE CORP/OH/"
filed_at: "2024-01-24T23:59:59+00:00"
generated_at: "2026-06-06T19:38:13.600692+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Progressive Q4 net income up 141% to $1.99B; combined ratio improves 5.2 pts to 88.7%

## Summary
- Q4 net income $1,987.8M ($3.37 diluted EPS) vs $826.4M ($1.40) a year ago.
- Full year net premiums written $61.55B (+20% YoY); combined ratio 94.9% vs 98.4% in 2022.
- December personal auto incurred frequency lowest in 20+ years, boosting underwriting.
- Board authorizes redemption of all Series B preferred shares ($500M) on Feb 22, 2024.
- Q4 net premiums earned $15.77B (+22% YoY); investment income $141.7M.

## SEC filing metadata
- accession: 0000080661-24-000002
- form_type: 8-K
- ticker: PGR
- cik: 0000080661
- company_name: PROGRESSIVE CORP/OH/
- filed_at: 2024-01-24T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/80661/000008066124000002/0000080661-24-000002-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/80661/000008066124000002/pgr-20240124.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000080661-24-000002
- JSON: https://secwatch.observer/filing/0000080661-24-000002.json
- Plain text: https://secwatch.observer/filing/0000080661-24-000002.txt

## Key facts
- Earnings Releases
  PROGRESSIVE CORP/OH/ reported December 2023 and the fourth quarter of 2023 results: net income $ 1,987.8, EPS $ 3.37.
  - Period: December 2023 and the fourth quarter of 2023
  - Net income: $ 1,987.8
  - EPS: $ 3.37
  - Result: reported results
  source text: The Progressive Corporation (NYSE:PGR) today reported the following results for December 2023 and the fourth quarter of 2023: December Quarter (millions, except per share amounts and ratios; unaudited) 2023 2023 2022 Change Net premiums written $ 4,875.9 $ 15,129.8 $ 12,460.2 21 % Net premiums earned $ 5,310.4 $ 15,772.6 $ 12,891.5 22 % Net income $ 901.2 $ 1,987.8 $ 826.4 141 % Per share available to common shareholders $ 1.53 $ 3.37 $ 1.40 141 %
  evidence_url: https://www.sec.gov/Archives/edgar/data/80661/000008066124000002/0000080661-24-000002-index.htm
- Earnings Releases
  PROGRESSIVE CORP/OH/ reported month of, and year ended, December 2023 results: net income $ 3,902.4, EPS $ 6.58.
  - Period: month of, and year ended, December 2023
  - Net income: $ 3,902.4
  - EPS: $ 6.58
  - Result: reported results
  source text: The Progressive Corporation (“the Company”) issued a news release containing financial results for the Company and its consolidated subsidiaries for the month of, and year ended, December 2023 and selected quarterly financial results.
  evidence_url: https://www.sec.gov/Archives/edgar/data/80661/000008066124000002/0000080661-24-000002-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.