PGR · 8-K · 20260918PR000322
Combined Ratio Performance
PROGRESSIVE CORP/OH/ · 2026-09-18 · Importance 25 · Surprise 32 · In source text
The August companywide combined ratio was 89.3, compared with 83.1 in August 2025, a deterioration of 6.2 points. August Personal Lines posted an 88.0 combined ratio, including 90.5 for Direct auto and 85.9 for Agency auto, while Property posted 75.3. Commercial Lines recorded a 97.5 combined ratio, driven by a 75.7 loss and loss adjustment expense ratio and a 21.8 expense ratio. August catastrophe losses produced a 1.9% companywide loss ratio, including 7.8% for Direct auto, while favorable prior-accident-year development totaled $131 million.
Key facts
- Prior accident years development year-to-date total development: $1,393 million (Actuarial adjustment $416 million; All other development $977 million). source
- Losses and loss adjustment expenses for August 2026: $5,065 million. source
- Company incurred catastrophe losses related to severe weather throughout the United States during the month (August 2026). source
- Calendar year actuarial adjustment year-to-date through August 31, 2026: total company $629 million (Personal Lines Agency $217 million, Direct $269 million, Property $48 million, Company total $534 million, Business total (Commercial) $95 million). source
- Calendar year actuarial adjustment for current month August 2026: total company $79 million (Personal Lines Agency $46 million, Direct $48 million, Property $4 million, Company total $98 million, Business total (Commercial) $(19) million). source
- Prior accident years development favorable/(unfavorable) total development for the month: $131 million (Actuarial adjustment $44 million; All other development $87 million). source
- For the year-to-date period ended August 31, 2026, companywide combined ratio: 87.2; Personal Lines combined ratio: 84.6; Commercial Lines combined ratio: 88.8. source
- Commercial Lines year-to-date net catastrophe loss ratio through August 31, 2026: 12.1%. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | +5.9% | Prior accident years development year-to-date total development: $1,393 million (Actuarial adjustment $416 million; All other development… |
| operating_income | negative | realized | — | Losses and loss adjustment expenses for August 2026: $5,065 million. |