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PROGRESSIVE CORP/OH/ 8-K Report, Regulation FD Disclosure (Feb 18, 2026)

Reports
Regulation FD·Exhibits & Filings
Filing Date
Filed February 18, 2026
Period End
February 18, 2026
Security
PGR
In the record · 2016–202610-K1110-Q328-K177

PGR filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 177 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · May ’17May ’17
  2. Leadership change8-K · Mar ’23Mar ’23
  3. Leadership change8-K · Mar ’25Mar ’25

01—Abstract

Summary

Summary of the 8-K filed February 18, 2026. Cited figures are marked; the original filing is the authoritative source.

The Progressive Corporation (PGR) reported January 2026 results in an 8-K filed February 18, 2026, under Regulation FD.

The month showed continued top-line and earnings growth: net premiums written rose 4% to $6.735 billiona and net premiums earned rose 5% to $6.921 billion. Net income increased 4% to $1.163 billion, or $1.98 per diluted share, and the combined ratio was 84.4, up 0.3 points year over year. Growth was driven by Personal Lines, where policies in force grew 10% companywide, led by Direct auto (up 14%) and Agency auto (up 10%).

Commercial Lines NPW fell 6%b in the month, with policies in force up 4%. Profitability was mixed beneath the headline. Personal Lines Vehicles Direct had a combined ratio of 87.5, reflecting an 8.5-point net catastrophe loss ratio in Personal Lines Property, and Commercial Lines ran at 86.8.

Total comprehensive income fell to $1.033 billionc from $1.280 billion because unrealized fixed-maturity losses of $130 million reduced other comprehensive income. Book value per share was $53.24, and the trailing 12-month return on average common equity was 35.1%. Management provided no additional commentary on January results, and the release contains only the monthly figures.

Looking ahead, Progressive scheduled its fourth-quarter investor call for March 3, 2026, with a presentation on capital and investments and an introduction from incoming CFO Andrew Quigg, who is expected to take over in July 2026. The 2025 Annual Report on Form 10-K is slated for March 2, 2026, and February results will be released March 18, 2026.

02—Key points

Key Highlights

  1. Net income rose 4% to $1.163 billion ($1.98 per diluted share) in January 2026, compared with $1.117 billion a year earlier.
  2. Net premiums written grew 4% to $6.735 billion, with Personal Lines up 5% and Commercial Lines down 6%.
  3. Combined ratio was 84.4 versus 84.1 a year earlier; Personal Lines Vehicles Direct ran at 87.5 and Personal Lines Property at 74.3.
  4. Policies in force reached 38.9 million, up 10% year over year, led by Direct auto (+14%) and Agency auto (+10%).
  5. Total comprehensive income fell to $1.033 billion from $1.280 billion due to a $130 million unrealized loss on fixed-maturity securities.
  6. Book value per share was $53.24 at January 31, 2026, with a trailing 12-month return on average common equity of 35.1%.
  7. Management plans Q4 earnings call on March 3, 2026, and a CFO transition to Andrew Quigg in July 2026.

03—Questions

Frequently Asked Questions

  1. How did Progressive perform in January 2026 compared with January 2025?

    Net income rose 4% to $1.163 billion, and diluted EPS rose to $1.98 from $1.90. Net premiums earned grew 5% to $6.921 billion, and the combined ratio edged up 0.3 points to 84.4.

  2. Why did comprehensive income decline even though net income grew?

    Comprehensive income fell to $1.033 billion from $1.280 billion because other comprehensive income turned negative. Unrealized losses on fixed-maturity securities totaled $130 million, compared with a $163 million gain a year earlier, reflecting interest-rate-driven mark-to-market movements.

  3. Which business segments drove growth and which weakened?

    Personal Lines drove growth, with NPW up 5% and policies in force up 10%, led by Direct auto. Commercial Lines NPW fell 6% in the month, although its policies in force rose 4%. Personal Lines Property had a strong combined ratio of 74.3, while Personal Lines Vehicles Direct was weaker at 87.5.

  4. What catastrophe losses affected the month?

    The net catastrophe loss ratio was 0.7 points companywide. It was concentrated in Personal Lines Property, where the ratio reached 8.5 points, reflecting the seasonal nature of property losses in the reported period.

  5. What upcoming events should investors watch?

    Progressive plans to file its 2025 Form 10-K on March 2, 2026, hold its Q4 investor call on March 3, 2026, and release February results on March 18, 2026. Andrew Quigg is expected to succeed John Sauerland as CFO in July 2026.

04—Continue

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