Progressive Corp. Reports Strong Q4 Performance and Announces CFO Transition
Progressive Corporation (NYSE: PGR) released its fourth‑quarter results on 28 January 2026. Net income increased 25 % year‑over‑year to $2.95 billion, driven by higher premiums and controlled expense growth. Earnings per share rose from $4.01 to $5.02, reflecting the same 25 % gain.
Net premiums written for the quarter totaled $19.5 billion, an 8 % rise compared with the same period in 2025. The company also reported that contracts in force grew by 10 % to $38.6 billion, matching the premium growth and indicating a solid underwriting pipeline.
Leadership Transition
On 28 January 2026, Progressive confirmed that Chief Financial Officer John Sauerland will retire on 3 July 2026 after 35 years with the company, 10 of those as CFO. The company named Andrew Quigg, currently Chief Strategy Officer, as the incoming CFO. Quigg will work with Sauerland to ensure a smooth transition and is expected to assume full CFO responsibilities on the retirement date. The succession plan emphasizes internal continuity and a phased handover.
Market and Ownership Activity
In the days surrounding the earnings release, Spectrum Asset Management, Inc. sold 2,012 shares of Progressive, while BCS Wealth Management purchased 932 shares. These transactions reflect routine portfolio adjustments by institutional investors.
Financial Highlights (Q4 2025)
| Metric | 2025 | 2024 | % Change |
|---|---|---|---|
| Net income | $2.95 bn | $2.37 bn | +25 % |
| Net premiums written | $19.5 bn | $18.0 bn | +8 % |
| EPS | $5.02 | $4.01 | +25 % |
| Contracts in force | $38.6 bn | $34.9 bn | +10 % |
These figures underscore Progressive’s continued growth in the U.S. auto and commercial insurance markets.
Contextual Information
- Market Capitalization: $121.98 bn (as of 26 January 2026).
- Price‑Earnings Ratio: 11.34.
- 52‑Week Range: $198.50 – $292.99.
- Closing Price (26 Jan 2026): $208.08.
Progressive’s operations are centered on personal and commercial automobile insurance, along with specialized property‑casualty products for customers within the United States. The company’s strategic focus remains on expanding its market share and maintaining disciplined underwriting standards.
The CFO transition, coupled with robust earnings, positions Progressive to continue delivering value to shareholders while navigating an evolving insurance landscape.
