Underwriting Operations — Net premiums earned
Progressive Underwriting Operations — Net premiums earned increased by 1.2% to $21.09B in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 10.2%, from $19.14B to $21.09B. Over 3 years (FY 2022 to FY 2025), Underwriting Operations — Net premiums earned shows an upward trend with a 18.4% CAGR. This is a positive signal — higher values indicate stronger performance for this metric.
Analysis
How to read this metric
Growth in net premiums earned typically signals an expanding customer base or successful price increases, while a decline suggests shrinking market share or reduced policy renewals.
Detailed definition
This represents the portion of premiums written that is recognized as revenue over the policy period as the insurer prov...
Peer comparison
Standard revenue metric for insurance companies, comparable to 'Net Premiums Earned' reported by all P&C insurance peers.
pgr_segment_underwriting_operations_net_premiums_earnedHistorical 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 | $12.31B | $12.31B | $12.31B | $12.31B | $14.67B | $14.67B | $14.67B | $14.67B | $16.15B | $17.21B | $18.30B | $19.14B | $19.41B | $20.31B | $20.85B | $21.09B |
| QoQ Change | — | +0.0% | +0.0% | +0.0% | +19.1% | +0.0% | +0.0% | +0.0% | +10.1% | +6.6% | +6.3% | +4.6% | +1.4% | +4.6% | +2.7% | +1.2% |
| YoY Change | — | — | — | — | +19.1% | +19.1% | +19.1% | +19.1% | +10.1% | +17.3% | +24.8% | +30.5% | +20.2% | +18.0% | +13.9% | +10.2% |
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Frequently Asked Questions
- What is Progressive's underwriting operations — net premiums earned?
- Progressive (PGR) reported underwriting operations — net premiums earned of $21.09B in Q4 2025.
- How has Progressive's underwriting operations — net premiums earned changed year-over-year?
- Progressive's underwriting operations — net premiums earned increased by 10.2% year-over-year, from $19.14B to $21.09B.
- What is the long-term trend for Progressive's underwriting operations — net premiums earned?
- Over 3 years (2022 to 2025), Progressive's underwriting operations — net premiums earned has grown at a 18.4% compound annual growth rate (CAGR), from $49.24B to $81.66B.
- What does underwriting operations — net premiums earned mean?
- The total revenue recognized from insurance policies during the period.