PGR — what changed in the latest 10-Q
A section-by-section comparison of PGR's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-11-02 vs the prior 10-Q · 2026-08-03
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +72 | −61 | ~56 | 78 |
| Market risk (Item 3) | Text added/removed | 0 | 0 | ~1 | 0 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 3 |
| Risk factors | No material changes reported (points to the 10-K) | — | — | — | — |
| Other information | Text added/removed | +7 | −1 | 0 | 1 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-11-02
We also maintained growth in both premiums and policies in force, albeit at a more moderate pace than in the third quarter last year, despite the continued increase in competition in the marketplace. Companywide net premiums written were $22.3 billion, an increase of $0.9 billion, or 4%, compared to…
For the third quarter 2026, we experienced a $73 million year-over-year decrease in net income, compared to the third quarter 2025, with total comprehensive income decreasing $2,254 million. The decrease in total comprehensive income was primarily driven by net unrealized losses on our fixed-maturit…
At September 30, 2026, total capital (debt plus shareholders’ equity) was $42.9 billion, an increase of $5.7 billion from year-end 2025. The increase was primarily driven by $5.8 billion of comprehensive income earned during the first nine months of 2026 and the issuance of $1.5 billion of senior no…
Our companywide underwriting profit margin for the third quarter 2026 was 0.8 points higher than in the same period last year, reflecting a 4.5 point decrease in the underwriting expense ratio, partially offset by a 3.7 point increase in the loss and loss adjustment expense (LAE) ratio. The decrease…
Personal Lines represented 89% of companywide net premiums written during the third quarter 2026 and is comprised of our personal vehicle and property products. Personal vehicle products include personal auto and special lines products (e.g., recreational vehicles, such as motorcycles, RVs, and wate…
Text removed vs the prior filing · source: 10-Q · 2026-08-03
We also reported steady year-over-year growth in both premiums and policies in force despite increased competition in the marketplace. Companywide net premiums written were $21.1 billion, an increase of $1.0 billion, or 5%, compared to the second quarter last year, while net premiums earned increase…
Personal Lines reported an underwriting profit margin of 12.4% for the second quarter, compared to 14.0% for the same period last year. Personal Lines also experienced year-over-year growth for the second quarter 2026, with net premiums written increasing 5% and policies in force increasing 8%, comp…
Commercial Lines reported an underwriting profit margin of 14.7% for the second quarter 2026, compared to 13.2% in the same period last year. Commercial Lines net premiums written increased 4% and policies in force increased 3% during the second quarter 2026, compared to the same period last year. I…
For the second quarter 2026, we experienced a $136 million year-over-year increase in net income, compared to the second quarter 2025, primarily reflecting an increase in total net investment income. Total comprehensive income decreased $669 million for the second quarter 2026, compared to the same …
At June 30, 2026, total capital (debt plus shareholders’ equity) was $42.7 billion, an increase of $5.5 billion from year-end 2025. The increase was primarily driven by $5.2 billion of comprehensive income earned during the first six months of 2026 and the issuance of $1.5 billion of senior notes du…
Other information
Text added vs the prior filing · source: 10-Q · 2026-11-02
During the third quarter 2026, certain executive officers entered into Rule 10b5-1 trading arrangements that are intended to satisfy the affirmative defense of Rule 10b5-1(c).
Below are the details of each applicable Rule 10b5-1 trading arrangement:
Chief Human Resources OfficerAugust 20, 2026December 31, 20265,467
Vice President and Chief Accounting OfficerAugust 20, 2026February 18, 20270
1 Subject to the plan’s earlier expiration or completion in accordance with its terms.
Text removed vs the prior filing · source: 10-Q · 2026-08-03
During the second quarter 2026, Lori Niederst, our Chief Personal Lines Officer, entered into a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c). The plan provides for the sale of all of the shares issued upon vesting for certain outstanding equit…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice