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Progressive PGR Amortization of deferred policy acquisition costs

Amortization of deferred policy acquisition costs at other companies

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$143.5M+6.7%

Segments

By segment

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Personal Lines Segment$5.07B+16.3%
Other Indemnity$0

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$127.63B-9.8%
P/E10.9×-2.7×

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:SupplementaryInsuranceInformationAmortizationOfDeferredPolicyAcquisitionCosts.

The official record: Progressive’s 10-K, filed March 2, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Progressive's amortization of deferred policy acquisition costs?
Progressive (PGR) reported amortization of deferred policy acquisition costs of $1.52B in Q4 2025.
How has Progressive's amortization of deferred policy acquisition costs changed year-over-year?
Progressive's amortization of deferred policy acquisition costs increased by 13.2% year-over-year, from $1.35B to $1.52B.
What is the long-term trend for Progressive's amortization of deferred policy acquisition costs?
Over 4 years (2021 to 2025), Progressive's amortization of deferred policy acquisition costs has grown at a 13.2% compound annual growth rate (CAGR), from $3.71B to $6.1B.
What does amortization of deferred policy acquisition costs mean?
The systematic allocation of deferred policy acquisition costs—such as commissions and underwriting expenses—over the life of the insurance policy. This accounting practice aligns the timing of expenses with the recognition of related premium revenue.