The Progressive Corporation reported its financial results for June 2025, indicating a monthly increase in net premiums written of approximately 2-3% compared to June 2024. The company noted significant catastrophe losses during the month, primarily due to severe weather events in Texas, which impacted its financial performance. Progressive's diverse insurance offerings include personal and commercial auto insurance, homeowners insurance, and other related products, positioning it as a major player in the U.S. insurance market.
The company is scheduled to hold an Investor Relations conference call on August 5, 2025, to discuss its pricing methodology and financial results. Progressive plans to file its Quarterly Report on Form 10-Q with the SEC on August 4, 2025, and will release its July financial results on August 20, 2025. Investors are encouraged to monitor the company's investor relations website for updates and further information.
linkJul 16, 2025 08:37:13
The Progressive Corporation reported net premiums written of $6.634 billion for May 2025, an 11% increase from $5.975 billion in May 2024. Net income for the month reached $1.065 billion, a 353% increase compared to $235 million in the same month last year. The company's combined ratio improved to 86.9 from 100.4, indicating better underwriting performance. The number of policies in force also increased, with personal auto policies rising by 17% in the agency channel and 22% in the direct channel.
For the year-to-date period ending May 31, 2025, Progressive reported net premiums written of $35.677 billion, up 15% from $31.115 billion in the prior year. Year-to-date net income was $4.618 billion, compared to $2.987 billion in 2024. The company's investment income also grew, contributing to overall revenue of $34.838 billion, a significant increase from $29.216 billion the previous year. The balance sheet showed total assets of $113.816 billion and shareholders' equity of $30.933 billion.
linkJun 18, 2025 08:56:16
The Progressive Corporation reported its financial results for April 2025, showing a notable increase in net income to $986 million, up 134% from $421 million in April 2024. The company's net premiums written reached $6.837 billion, reflecting an 11% year-over-year increase, while net premiums earned were $6.641 billion, a 19% increase compared to the previous year. The combined ratio improved to 84.9 from 89.0, indicating better underwriting performance. Additionally, the company reported a total revenue of $7.066 billion for the month, driven by growth in both personal and commercial lines insurance policies in force.
Year-to-date results also indicate strong performance, with net premiums written totaling $29.043 billion, a 16% increase from $25.140 billion in the same period last year. Net income for the year-to-date period reached $3.553 billion, up from $2.752 billion in 2024. The company's total assets stood at $112.927 billion, with shareholders' equity at $30.314 billion. Progressive plans to release its May results on June 18, 2025, before the market opens.
linkMay 21, 2025 09:05:33
The Progressive Corporation reported a 17% increase in net premiums written for March 2025 compared to March 2024, totaling $9,041 million. The net premiums earned also rose by 20% to $6,787 million. Additionally, the company saw a growth in policies in force across various lines of insurance, indicating an expansion in its customer base and business operations. The total comprehensive income for the month was $586 million, reflecting positive revenue growth.
However, the company experienced a significant decline in net income for March 2025, which fell by 42% to $522 million compared to the previous year. The per share earnings available to common shareholders also decreased by 42% to $0.89. Furthermore, Progressive reported substantial net realized losses on securities amounting to $211 million, a stark contrast to the gains of $59 million in March 2024. This decline in investment performance contributed negatively to the overall financial results.
linkApr 16, 2025 09:15:38
The Progressive Corporation reported a 17% increase in net premiums written, reaching $6,684 million for February 2025 compared to $5,720 million in February 2024. Net premiums earned also rose by 18% to $6,036 million, and net income increased by 26% to $928 million. The company experienced a decrease in total pretax net realized gains on securities, reporting a loss of $110 million compared to a gain of $80 million in the previous year. The combined ratio deteriorated by 4.2 points to 82.6.
In terms of policies, Progressive saw an 18% increase in total personal lines policies in force, with notable growth in direct auto policies, which increased by 25%. The company reported a favorable development on prior accident years, contributing to a decrease in the loss ratio. However, the expenses associated with losses and loss adjustments rose to $3,779 million, reflecting an increase from the previous year, alongside a rise in policy acquisition costs and other underwriting expenses.
linkMar 19, 2025 08:26:15
The Progressive Corporation reported notable increases in several financial metrics for January 2025 compared to January 2024. Net premiums written rose by 18% to $6,481 million, and net premiums earned increased by 22% to $6,586 million. Net income also saw significant growth, reaching $1,117 million, a 59% increase from the previous year's $701 million. Additionally, the combined ratio improved, decreasing by 3.2 points to 84.1, indicating better underwriting performance. The company also reported a rise in total policies in force across personal and commercial lines.
On the downside, the company experienced a decrease in net premiums written within its Commercial Lines segment, particularly due to a decline in the transportation network company business. Furthermore, Progressive incurred approximately $43 million in catastrophe losses tied to California wildfires, which primarily affected its personal property products. While investment income increased, net realized gains on securities were lower than the previous year, reflecting some volatility in the investment portfolio.
linkFeb 19, 2025 09:45:01
The Progressive Corporation reported notable increases in net premiums written and earned for December 2024, with net premiums written reaching $5.964 billion, a 22% increase from the previous year. The company also saw a rise in net income, which reached $942 million, marking a 5% increase year-over-year. Additionally, the number of policies in force grew significantly, highlighting the company’s expanding market presence and customer base.
However, Progressive faced challenges with net realized losses on securities, totaling $(140) million in December, a significant decline compared to the $144 million in gains reported the previous year. This negative performance in investments, along with a slight increase in the combined ratio, indicates potential pressures on underwriting profitability. Despite the overall growth in premiums and income, these investment losses could impact future financial stability.
linkJan 29, 2025 12:12:30
The Progressive Corporation announced significant growth in its financial performance for November 2024, with net premiums written rising by 18% to $5,563.3 million and net income increasing by 48% to $1,005.8 million compared to the same month in 2023. Additionally, the company reported a 19% growth in net premiums earned, reaching $6,040.4 million, and a reduction in the combined ratio to 85.6 from 91.1, indicating improved operational efficiency. The average diluted earnings per share also rose by 48% to $1.71, reflecting strong profitability.
Conversely, Progressive experienced a decline in total pretax net realized gains on securities, which fell by 29% to $175.7 million compared to the previous year. The company also reported an increase in losses and loss adjustment expenses, totaling $3,938.8 million. While the overall financial results were positive, the lower performance in investment gains and rising expenses highlight areas of concern for the company.
linkDec 13, 2024 08:49:18
The Progressive Corporation reported a 19% increase in net premiums written, totaling $6,577.8 million for October 2024, compared to $5,528.8 million in October 2023. The company also saw a slight rise in net income, reaching $408.2 million, which translates to $0.69 per share available to common shareholders. The growth in premiums was attributed to the renewal of certain transportation network company policies, which had a longer term and higher premium amounts than the previous year.
On the downside, Progressive faced total pretax net realized losses on securities of $(88.0) million, reflecting a minor increase from $(87.1) million in the prior year. Additionally, the combined ratio increased to 94.1 from 91.7, indicating higher costs relative to earned premiums. The company also reported total comprehensive income loss of $(603.6) million, primarily due to significant changes in unrealized gains and losses on fixed-maturity securities.
linkNov 15, 2024 08:51:12
The Progressive Corporation announced impressive financial results for September 2024, with a significant increase in net premiums written and earned, showing a 25% and 23% growth respectively compared to the previous year. The net income also saw a remarkable rise of 108%, reaching $584.6 million, indicating a strong performance in their operations. Additionally, the company reported substantial growth in policies in force across personal and commercial lines, reflecting a robust customer base and demand for their insurance products.
However, the company faced challenges due to catastrophe losses from Hurricane Helene, amounting to $563 million, which impacted their overall expenses. Despite this setback, the company recognized favorable development in their Property business, which helped mitigate some losses. Moving forward, Progressive remains focused on managing risk and adapting to changing market conditions while maintaining a strong financial position.
linkOct 15, 2024 08:39:09