Products & Services · Underwriting Margin
Underwriting Operations — Underwriting Margin
Progressive Underwriting Operations — Underwriting Margin decreased by 23.9% to $0.11 in Q3 2025 compared to the prior quarter. Year-over-year, this metric declined by 4.5%, from $0.11 to $0.11. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
StatementSegment
CategoryProfitability
SignalHigher is better
VolatilityModerate
First reportedQ1 2013
Last reportedQ3 2025
How to read this metric
An increase indicates improved underwriting efficiency and pricing discipline, while a decrease suggests rising claims costs or inefficient expense management.
Detailed definition
This metric represents the percentage of net premiums earned that remains as profit after accounting for all underwritin...
Peer comparison
Commonly referred to as the underwriting profit margin across the insurance industry; peers typically target positive margins to ensure core business viability.
Metric ID:
pgr_segment_underwriting_operations_underwriting_marginHistorical Data
14 periods
| Q2 '21 | Q3 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q1 '25 | Q2 '25 | Q3 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $0.04 | -$0.00 | $0.06 | $0.04 | $0.01 | $0.01 | -$0.00 | $0.08 | $0.14 | $0.08 | $0.11 | $0.14 | $0.14 | $0.11 |
| QoQ Change | — | -111.4% | >999% | -20.0% | -81.8% | +25.0% | -140.0% | >999% | +82.9% | -41.7% | +35.8% | +27.3% | -1.4% | -23.9% |
| YoY Change | — | — | — | +25.7% | +300.0% | -81.8% | -109.1% | +850.0% | >999% | >999% | +44.7% | +0.7% | +70.4% | -4.5% |
Range-$0.00 – $0.14
CAGR+40.2%
Avg YoY Growth+410.1%
Median YoY Growth+44.7%
Current Streak2 quarters decline
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Frequently Asked Questions
- What is Progressive's underwriting operations — underwriting margin?
- Progressive (PGR) reported underwriting operations — underwriting margin of $0.11 in Q3 2025.
- How has Progressive's underwriting operations — underwriting margin changed year-over-year?
- Progressive's underwriting operations — underwriting margin decreased by 4.5% year-over-year, from $0.11 to $0.11.
- What does underwriting operations — underwriting margin mean?
- The percentage of premium revenue kept as profit after paying insurance claims and operating costs.