Progressive Corporation's Impressive April 2025 Financial Results
Financial Highlights for April 2025
MAYFIELD VILLAGE, OHIO – The Progressive Corporation (NYSE:PGR) has announced its financial achievements for April 2025. The company continues to show robust performance, reflected in various metrics, including net premiums written and net premiums earned.
Net Premiums Reported
In April 2025, Progressive reported net premiums written amounting to $6.837 billion, showcasing an 11% increase from the previous year when the figure stood at $6.178 billion. This growth highlights Progressive's strong market position and demand for its insurance products.
Net Premiums Earned
For the same period, net premiums earned reached $6.641 billion compared to $5.575 billion in 2024, signifying a remarkable 19% increase. This upward trend illustrates Progressive's successful customer retention strategies and expansion efforts.
Net Income and Earnings
Progressive's net income for April 2025 totaled $986 million, a significant rise from $421 million in April 2024, representing an astonishing growth rate of 134%. This impressive net income reflects Progressive's effective cost management and operational efficiencies.
Per Share Earnings
The earnings per share available to common shareholders for April 2025 were reported at $1.68, up from $0.72 in the prior year. This surge in earnings per share signifies the company's commitment to enhancing shareholder value.
Combined Ratio and Financial Efficiency
Progressive's combined ratio for April 2025 was reported at 84.9%, demonstrating improved underwriting performance compared to 89.0% the previous year. A lower combined ratio indicates better profitability in the insurance sector, reflecting Progressive’s efficiency in managing its underwriting practices.
Policy Growth and Market Presence
As of April 30, 2025, the total number of policies in force for Progressive stood at 36.653 million, which is a 17% increase compared to the 31.347 million policies from the previous year. This growth is driven by gains in personal and commercial lines, with personal lines contributing significantly to the overall policy count.
Personal Lines Coverage
Within personal lines, agency auto, direct auto, and other categories like motorcycle and property insurance saw notable increases. Each category experienced robust growth as more consumers turned to Progressive for their insurance needs.
About Progressive Corporation
Progressive Insurance is celebrated for making it accessible to understand, buy, and utilize various insurance products. Their commitment includes providing choices that cater to consumer convenience, enabling access online, via phone, mobile app, or local agents.
Founded in 1937, Progressive stands as the second-largest personal auto insurer in the U.S., excelling in various types of insurance sectors including commercial auto and homeowners insurance. Innovative services like Name Your Price® and Snapshot® continue to resonate with customers.
The company is publicly traded under the ticker symbol NYSE:PGR, and their continued growth in the insurance market indicates a solid future ahead.
Company Contact
Douglas S. Constantine
(440) 395-3707
investor_relations@progressive.com
The Progressive Corporation
300 North Commons Blvd.
Mayfield Village, Ohio 44143
Frequently Asked Questions
What were Progressive’s net premiums written in April 2025?
Progressive reported net premiums written of $6.837 billion for April 2025.
How much did Progressive's net income increase in April 2025?
The net income surged to $986 million, an increase of 134% compared to the prior year's $421 million.
What is the combined ratio for Progressive in April 2025?
The combined ratio for April 2025 was 84.9%, indicating improved operational efficiency.
How many policies does Progressive currently have in force?
Progressive has approximately 36.653 million policies in force as of April 30, 2025.
What is Progressive's focus in the insurance market?
Progressive focuses on providing comprehensive insurance options in personal and commercial lines while promoting innovative services to enhance customer experience.
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