Progressive's third-quarter combined ratio improved to 88.7% from 89.5% in the prior-year quarter, an 80-basis-point improvement. The September combined ratio was 90.0%, down from 100.4% a year earlier, a 10.4-point improvement. The quarterly ratio was better than consensus estimates near 89.4%-89.7%, reflecting stronger underwriting profitability despite the revenue shortfall.
Key facts
Combined ratio quarter-to-date (Q3 2026): 88.7% (improved 80 basis points from prior-year quarter's level in one report) source