Progressive's quarterly profit rises on strong personal insurance demand
15/04/2026 14:05
April 15 (Reuters) - Property and casualty insurer Progressive PGR.N reported a rise in first-quarter profit on Wednesday, helped by strong demand for its personal insurance policies. Insurance demand remains resilient, underpinned by the essential nature of coverage that protects households and businesses from large, unpredictable losses, even as economic uncertainty driven by the U.S.-Israeli war on Iran is expected to fuel inflation. Here are some details: The Mayfield Village, Ohio-based insurer reported a 6% rise in net premiums written to $23.64 billion in the quarter. Progressive provides personal and commercial insurance for vehicles and properties. The company's net income rose to $2.82 billion, or $4.80 per share, in the quarter ended March 31, from $2.57 billion, or $4.37 per share, a year earlier. Its personal insurance policies in force climbed 9% to 38.4 million. The insurer's combined ratio was 86.4%, up from 86% a year earlier, indicating it earned more from premiums than it paid out in claims and expenses. Progressive shares have lost nearly 13.7% this year. (Reporting by Prakhar Srivastava in Bengaluru; Editing by Sahal Muhammed) ((Prakhar.srivastava2@thomsonreuters.com;))