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Progressive PGR Direct premiums earned

Direct premiums earned at other companies

Kemper logo
KemperKMPR
$1.1B+4.2%
Universal Insurance Holdings logo
Universal Insurance HoldingsUVE
$531.42M+3.5%
American Coastal Insurance Corporation logo
American Coastal Insurance CorporationACIC
$161.22M+1.2%
Slide Insurance Holdings, Inc. logo
Slide Insurance Holdings, Inc.SLDE
$486.1M+43.5%
HCI Group logo
HCI GroupHCI

Other financials

Income statement

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Revenue$22.2B+8.7%
Net income$3.3B+4.3%
EPS (diluted)$4.80+9.8%

Balance sheet

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Cash & equivalents$162.0M-16.9%
Total debt$8.4B+21.6%
Total equity$34.3B+5.3%
Total assets$124.93B+8.2%

Cash flow

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Operating cash flow$4.4B-15.1%
CapEx$63.0M+6.8%
Free cash flow$4.3B-15.3%

Valuation

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Market cap$123.69B-14.8%
P/E10.6×-3.3×

Profitability

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Net margin12.9%+1.8pp
FCF margin18.4%-1.7pp

Returns & leverage

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Return on equity34.9%-2.4pp
Debt / equity0.2×0.0×

Where this comes from

Reported directly by Progressive in its filing.

Tagged under the XBRL concept us-gaap:DirectPremiumsEarned.

The source filing: Progressive’s 10-K, filed March 2, 2026.

Filed
Mar 2, 2026, 10:40 AM EST
Fiscal year
FY2025
Accession
0000080661-26-000086
Year Ended: / December 31, 2025Gross AmountCeded to Other CompaniesAssumed From Other CompaniesNet AmountPercentageof Amount Assumed to Net
Premiums earned:
Property and liability insurance$82,847$1,186$0$81,6610%
December 31, 2024
Premiums earned:
Property and liability insurance$72,169$1,370$0$70,7990%
December 31, 2023
Premiums earned:
Property and liability insurance$59,881$1,216$0$58,6650%

ITEM 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES

FAQ

What is Progressive's direct premiums earned?
Progressive (PGR) reported direct premiums earned of $20.71B in Q4 2025.
How has Progressive's direct premiums earned changed year-over-year?
Progressive's direct premiums earned increased by 14.8% year-over-year, from $18.04B to $20.71B.
What is the long-term trend for Progressive's direct premiums earned?
Over 4 years (2021 to 2025), Progressive's direct premiums earned has grown at a 15.8% compound annual growth rate (CAGR), from $46.02B to $82.85B.
What does direct premiums earned mean?
Represents the portion of direct premiums written that has been recognized as revenue during the reporting period as the insurance coverage is provided. This metric excludes any premiums ceded to reinsurers and reflects the core top-line growth of the insurance business before reinsurance adjustments.

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