Second quarter net income at Progressive Corp. increased 118% compared to the same period a year ago to about $3.2 billion.
Progressive reports results monthly. Net income for June was up 40% to $1.1 billion. Year-to-date net income as of June 30 is $5.7 billion, up from about $3.8 billion a year ago.
The Mayfield Village, Ohio-based insurer’s second quarter combined ratio was 86.2—a 5.7-point improvement over Q2 2024. Net premiums written (NPW) in Q2 were about $20 billion, an increase of 17% compared to the same time period last year.
Personal lines recorded a year-to-date combined ratio of 85.9 despite a net catastrophe loss ratio of 20.0 year-to-date in personal property.
Year-to-date NPW in Progressive’s direct auto business grew 22% to about $19.4 billion. Agency-channel auto grew 14% to nearly $20 billion as of June 30. Personal property NPW growth held at 1%.
Topics Profit Loss
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