secwatch.observer — SEC 8-K summary
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Issuer:     PROGRESSIVE CORP/OH/ (PGR)
CIK:        0000080661
Form:       8-K
Filed at:   2025-04-16T23:59:59+00:00
Accession:  0000080661-25-000020
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Progressive March net income drops 42% YoY; Q1 EPS $4.37; combined ratio 90.9
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- March net income $522M (-42% YoY); EPS $0.89 (-42% YoY).
- Q1 net premiums written $22.2B (+17% YoY); net premiums earned $19.4B (+20% YoY).
- Q1 combined ratio 86.0%, flat YoY; March combined ratio 90.9% vs 84.3% (6.6 pts worse).
- Policies in force up 18% YoY to 36.3M; personal auto direct +25%, agency +18%.
- Total portfolio FTE return +0.2% for month; pretax investment book yield 4.3%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/80661/000008066125000020/0000080661-25-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/80661/000008066125000020/pgr-20250416.htm
  HTML page:      https://secwatch.observer/filing/0000080661-25-000020

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer