Underwriting Operations — Losses and loss adjustment expenses
Progressive Underwriting Operations — Losses and loss adjustment expenses increased by 4.9% to $14.11B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 8.6%, from $12.98B to $14.11B. Over 3 years (FY 2022 to FY 2025), Underwriting Operations — Losses and loss adjustment expenses shows an upward trend with a 12.3% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
A lower ratio of these costs to earned premiums indicates superior underwriting and claims management, whereas a higher ratio suggests poor profitability.
Detailed definition
This is the total cost of claims incurred plus the expenses required to manage those claims. It represents the primary c...
Peer comparison
Standard industry metric for total claims-related costs; essential for calculating the loss ratio.
pgr_segment_underwriting_operations_losses_and_loss_adjustment_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 | $9.53B | $9.53B | $9.53B | $9.53B | $11.41B | $11.41B | $11.41B | $11.41B | $10.97B | $12.60B | $12.51B | $12.98B | $12.80B | $13.61B | $13.45B | $14.11B |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | +19.8% | +0.0% | +0.0% | +0.0% | -3.9% | +14.8% | -0.7% | +3.8% | -1.4% | +6.3% | -1.2% | +4.9% |
| YoY Change | — | — | — | — | +19.8% | +19.8% | +19.8% | +19.8% | -3.9% | +10.3% | +9.6% | +13.7% | +16.7% | +8.0% | +7.5% | +8.6% |
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Frequently Asked Questions
- What is Progressive's underwriting operations — losses and loss adjustment expenses?
- Progressive (PGR) reported underwriting operations — losses and loss adjustment expenses of $14.11B in Q4 2025.
- How has Progressive's underwriting operations — losses and loss adjustment expenses changed year-over-year?
- Progressive's underwriting operations — losses and loss adjustment expenses increased by 8.6% year-over-year, from $12.98B to $14.11B.
- What is the long-term trend for Progressive's underwriting operations — losses and loss adjustment expenses?
- Over 3 years (2022 to 2025), Progressive's underwriting operations — losses and loss adjustment expenses has grown at a 12.3% compound annual growth rate (CAGR), from $38.12B to $53.96B.
- What does underwriting operations — losses and loss adjustment expenses mean?
- The combined cost of paying claims and the expenses to manage them.