PGR · 8-K · 20260819PR000315

Balance Sheet and Liquidity

PROGRESSIVE CORP/OH/ · 2026-08-19 · Importance 37 · Surprise 6

Total assets were $125,663 million at July 31, 2026, including $97,942 million of investments and $17,030 million of net premiums receivable. Total liabilities were $91,005 million, including $45,772 million of loss and loss adjustment expense reserves and $8,388 million of debt. Shareholders’ equity was $34,658 million, and debt-to-total capital was 19.5%. The fixed-income portfolio had a 3.5-year duration and AA- weighted average credit quality.

Key facts

• Condensed GAAP balance sheet — Total investments at fair value as of July 31, 2026: $97,942 million source
• Available-for-sale fixed maturities at fair value as of July 31, 2026: $91,233 million (amortized cost $92,938 million) source
• Total assets as of July 31, 2026: $125,663 million source
• Unearned premiums as of July 31, 2026: $27,491 million source
• Loss and loss adjustment expense reserves as of July 31, 2026: $45,772 million source
• Total liabilities as of July 31, 2026: $91,005 million; Shareholders' equity: $34,658 million; Total liabilities and shareholders' equity: $125,663 million source
• Net premiums receivable as of July 31, 2026: $17,030 million source
• Debt as of July 31, 2026: $8,388 million source