PGR · 8-K · 20260918PR000322

Investment Results

PROGRESSIVE CORP/OH/ · 2026-09-18 · Importance 36 · Surprise 56 · In source text

August total pretax net realized gains on securities were $108 million, up 38% from $78 million in August 2025. The August amount comprised a $119 million net holding-period gain and an $11 million net realized loss on security sales. Year-to-date realized gains increased to $545 million from $332 million, while investment income increased to $2,579 million from $2,298 million. The year-to-date total portfolio FTE return was 1.3%, down from 5.6% in 2025, as fixed-income returns declined to 0.7% from 5.5% despite common-stock returns increasing to 13.5% from 9.9%.

Key facts

• Total net unrealized pretax losses on fixed-maturity securities at August 31, 2026: $(1,799) million; increase (decrease) from the previous month: $(95) million; increase (decrease) from December 2025: $(1,947) million. source
• Total net realized gains on securities for August 2026: $108 million, 38% vs. August 2025. source
• Investment income year-to-date through August 31, 2026: $2,579 million (vs. $2,298 million in 2025). source
• Total net realized gains on securities year-to-date through August 31, 2026: $545 million (106 on sales; 439 net holding period gains). source
• As of August 31, 2026 Progressive held certain hybrid securities and recognized a change in fair value of $3 million as a realized loss during the period held. source
• Investment income for August 2026: $346 million. source
• Fully taxable equivalent (FTE) total return on the total portfolio for August 2026 (month): 0.4%; year-to-date 1.3%; 2025 year-to-date 5.6%. source
• Pretax annualized investment income book yield for August 2026: 4.3% (4.2% year-to-date 2026 and 2025). source

Impact estimates