Progressive posts April net income of $1.09 billion, up 10%

The Progressive

The Progressive

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  • Progressive posted April net income of USD 1.09 billion, up 10% from a year earlier, as net premiums earned rose 7% to USD 7.11 billion.
  • Net premiums written increased 6% to USD 7.28 billion.
  • The combined ratio worsened to 90.2 from 84.9.
  • Total pretax net realized gains on securities were USD 402 million versus a USD 3 million loss a year earlier.
  • Policies in force climbed 8% to 39.77 million, led by 11% growth in direct auto to 16.65 million.


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