Description

Progressive’s Sub-90 Combined Ratio Streak Shows Underwriting Power!

Progressive Corporation reported first quarter results that continue to demonstrate strong profitability and above-industry-average growth, particularly in the Personal Auto segment. The company gained 1.9 points of market share in Personal Auto during 2025, reaching an 18.6% share, marking two consecutive years of significant share gains unmatched by other top competitors since at least 1996. This growth was achieved alongside combined ratios below 90 in nine of the last ten quarters in Personal Auto, signaling profitable expansion. Despite the broader industry’s challenges—such as underwriting losses in Commercial Auto driven by factors like nuclear verdicts and social inflation—Progressive maintained excellent underwriting profitability exceeding industry averages in this segment. The Property segment showed continued exceptional profitability and measured expansion efforts, as the company cautiously increased its underwriting appetite to grow selectively within key segments. Progressive highlighted ongoing investment in risk selection, segmentation, and geographic distribution to broaden its property offerings.