secwatch.observer — SEC 8-K summary
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Issuer:     PROGRESSIVE CORP/OH/ (PGR)
CIK:        0000080661
Form:       8-K
Filed at:   2026-05-20T12:33:11+00:00
Accession:  0000080661-26-000204
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Progressive April net income up 10% to $1.09B but combined ratio rises to 90.2 from 84.9 on cat losses
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- Net premiums written $7.28B (+6% YoY); net premiums earned $7.11B (+7%).
- Net income $1.09B ($1.86 diluted EPS) vs $986M ($1.68) last year; YTD net income $3.91B ($6.66 diluted).
- Combined ratio 90.2% vs 84.9% last April; YTD combined ratio 87.4%; net catastrophe loss ratio 7.0% (companywide).
- Policies in force 39.8M (+8% YoY); Personal Lines auto direct +11%, agency auto +8%.
- Total pretax net realized gains on securities $402M (vs -$3M last year) drove earnings.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/80661/000008066126000204/0000080661-26-000204-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/80661/000008066126000204/pgr-20260520.htm
  HTML page:      https://secwatch.observer/filing/0000080661-26-000204

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