PGR · 8-K · 20260617PR000210

Investment Results

PROGRESSIVE CORP/OH/ · 2026-06-17 · Importance 51 · Surprise 64

Year-to-date total net realized gains on securities were $497 million, compared with a $4 million loss in 2025. The improvement included $413 million of net holding-period gains versus a $22 million loss and $84 million of gains on security sales versus $18 million. Year-to-date total portfolio return was 1.1%, including an 11.0% return on common stocks and a 0.7% return on fixed-income securities. May investment income was $334 million, and the pretax annualized investment-income book yield was 4.3%.

Key facts

• Year-to-date investment income as of May 31, 2026: $1,567 million source
• Increase (decrease) in net unrealized pretax losses from December 2025 as of May 31, 2026: $(1,049) million source
• Total investments at fair value as of May 31, 2026: $96,326 million source
• Available-for-sale fixed maturities at fair value as of May 31, 2026: $90,723 million (amortized cost $91,620 million) source
• As of May 31, 2026, Progressive held certain hybrid securities and recognized a change in fair value of $4 million as a realized gain during the period they held these securities source
• Other comprehensive income (loss) change in total net unrealized gains on fixed-maturity securities for May 2026: $(156) million source
• Net unrealized pretax losses on fixed-maturity securities as of May 31, 2026: $(901) million source
• Net realized losses on security sales for May 2026: $(23) million source