Income StatementBalance SheetCash FlowSegments
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Progressive Business Segments

Business, geographic, and product segment breakdowns

Progressive generates $89.5B in annual revenue across 2 key segments: Other Indemnity ($2.0M), and Personal Lines Segment ($70.8B). Based on the Q1 2026 filing.

Other Indemnity (TTM)$2.0MPersonal Lines Segment (TTM)$70.8B
Latest FilingQ1 2026
Report Date2026-05-04
Market Cap$116.41B
P/E Ratio10.07
ROE37.9%

Products & Services

Liabilities for unpaid claims and claim adjustment expenses, net of reinsurance

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Shortduration Insurance Product Line$177.0M———$173.0M—

Total reinsurance recoverables on unpaid claims

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Shortduration Insurance Product Line$354.0M———$207.0M—

Assumed Premiums Earned

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Liability And Casualty Insurance$0.0$0.0$0.0$0.0$0.0—

Ceded Premiums Earned

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Liability And Casualty Insurance$342.5M$296.5M$296.5M$296.5M$296.5M—

Direct premiums earned

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Liability And Casualty Insurance$18.0B$20.7B$20.7B$20.7B$20.7B—

Net premiums earned

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Underwriting operations$19.1B$19.4B$20.3B$20.8B$21.1B$21.0B
Property Liability And Casualty Insurance$17.7B$20.4B$20.4B$20.4B$20.4B—

Percentage of Amount Assumed to Net

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Property Liability And Casualty Insurance0.0%0.0%0.0%0.0%0.0%—

Catastrophe losses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Underwriting operations$166.0M$459.0M$707.0M$219.0M$93.0M$268.0M

Combined ratio

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Underwriting operations—86.0%86.2%89.5%0.1%86.4%

Distribution expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Underwriting operations$2.6B$2.6B$2.6B$2.8B$2.9B$3.0B

Expense Related to Distribution or Servicing and Underwriting Fees

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Underwriting operations$4.1B$4.2B$4.2B$5.5B$4.8B$4.6B

Fees and other revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Underwriting operations$290.0M$287.0M$303.0M$306.0M$300.0M$297.0M

Loss adjustment expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Underwriting operations$1.7B$1.7B$1.8B$1.8B$1.9B$1.9B

Losses and loss adjustment expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Underwriting operations$13.0B$12.8B$13.6B$13.4B$14.1B$13.8B

Losses (excluding catastrophe losses)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Underwriting operations$11.1B$10.7B$11.1B$11.4B$12.1B$11.7B

Other underwriting expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Underwriting operations$1.5B$1.5B$1.6B$2.7B$1.9B$1.6B

Pretax underwriting profit (loss)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Underwriting operations$2.3B$2.7B$2.8B$2.2B$2.5B$2.9B

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Underwriting operations$19.4B$19.7B$20.6B$21.2B$21.4B$21.3B

Underwriting Margin

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Underwriting operations0.3%14.0%13.8%10.5%—13.6%

Percentage of reserves

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Vehicle Insurance Product Line—24.3%24.3%24.3%24.3%—

Business Segments

Amortization of deferred policy acquisition costs

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Indemnity$0.0$0.0$0.0$0.0$0.0—
Personal Lines Segment$1.1B$1.3B$1.3B$1.3B$1.3B—

Benefits, claims, losses, and settlement expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Indemnity$1.8M$250.0K$250.0K$250.0K$250.0K—
Personal Lines Segment$10.4B$11.7B$11.7B$11.7B$11.7B—

Net premiums written

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Indemnity$250.0K$750.0K$750.0K$750.0K$750.0K—
Personal Lines Segment$15.9B$18.1B$18.1B$18.1B$18.1B—

Other operating expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Indemnity$3.0M$5.5M$5.5M$5.5M$5.5M—
Personal Lines Segment$2.1B$2.8B$2.8B$2.8B$2.8B—

Premium revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Indemnity$250.0K$500.0K$500.0K$500.0K$500.0K—
Personal Lines Segment$15.0B$17.7B$17.7B$17.7B$17.7B—

Independent insurance agencies and brokerages

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Personal Lines$40.0K———$40.0K—