Underwriting Operations — Distribution expenses
Progressive Underwriting Operations — Distribution expenses increased by 1.3% to $2.86B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 8.7%, from $2.63B to $2.86B. Over 3 years (FY 2022 to FY 2025), Underwriting Operations — Distribution expenses shows an upward trend with a 24.3% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
An increase may signal aggressive growth efforts or higher acquisition costs, while a decrease could reflect improved marketing efficiency or a shift in distribution channels.
Detailed definition
These are the costs incurred to acquire and service policies, including commissions paid to agents, advertising, and oth...
Peer comparison
Comparable to 'Acquisition Costs' or 'Underwriting Expenses' at other insurers; varies based on the mix of direct vs. agency distribution.
pgr_segment_underwriting_operations_distribution_expensesHistorical Data
| Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $1.43B | $1.43B | $1.43B | $1.43B | $1.49B | $1.49B | $1.49B | $1.49B | $1.83B | $2.11B | $2.56B | $2.63B | $2.63B | $2.64B | $2.82B | $2.86B |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | +4.9% | +0.0% | +0.0% | +0.0% | +22.7% | +15.2% | +21.4% | +2.5% | +0.2% | +0.1% | +7.0% | +1.3% |
| YoY Change | — | — | — | — | +4.9% | +4.9% | +4.9% | +4.9% | +22.7% | +41.3% | +71.6% | +75.8% | +43.6% | +24.9% | +10.0% | +8.7% |
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Frequently Asked Questions
- What is Progressive's underwriting operations — distribution expenses?
- Progressive (PGR) reported underwriting operations — distribution expenses of $2.86B in Q4 2025.
- How has Progressive's underwriting operations — distribution expenses changed year-over-year?
- Progressive's underwriting operations — distribution expenses increased by 8.7% year-over-year, from $2.63B to $2.86B.
- What is the long-term trend for Progressive's underwriting operations — distribution expenses?
- Over 3 years (2022 to 2025), Progressive's underwriting operations — distribution expenses has grown at a 24.3% compound annual growth rate (CAGR), from $5.70B to $10.95B.
- What does underwriting operations — distribution expenses mean?
- The costs associated with marketing, selling, and distributing insurance policies.