Progressive(US:PGR) Globenewswireยท2025-07-16 12:18Core Insights - Progressive Corporation reported significant growth in net premiums written and earned for the quarter and year-to-date, indicating strong business performance and market demand [4]. Group 1: Financial Performance - For the quarter ended June 30, 2025, net premiums written reached $6,605 million, a 15% increase from $5,749 million in 2024 [4]. - Net premiums earned for the same quarter were $6,954 million, up 20% from $5,777 million in 2024 [4]. - The company reported a net income of $1,124 million for the quarter, representing a 40% increase compared to $803 million in 2024 [4]. - Earnings per share available to common shareholders increased to $1.91, a 40% rise from $1.37 in 2024 [4]. - The total pretax net realized gains on securities were $179 million, compared to $22 million in 2024, indicating a significant improvement [4]. - The combined ratio for the quarter was 86.6, slightly up from 86.2 in 2024, but improved from 91.9 year-over-year [4]. Group 2: Policies in Force - As of June 30, 2025, the total number of personal lines policies in force was 36,126 thousand, a 16% increase from 31,192 thousand in 2024 [1]. - The agency auto policies increased to 10,423 thousand, up 16% from 8,965 thousand in 2024 [1]. - Direct auto policies rose to 15,245 thousand, reflecting a 21% increase from 12,576 thousand in 2024 [1]. - Special lines policies grew by 9% to 6,850 thousand from 6,312 thousand in 2024 [1]. - Property policies increased by 8% to 3,608 thousand from 3,339 thousand in 2024 [1]. - Commercial lines policies in force reached 1,189 thousand, a 6% increase from 1,118 thousand in 2024 [1].