Progressive reports 86.2% CR for June

Progressive released its financial results for June, ending the month with a combined ratio of 86.2% and net income of $802.7 million.

For the first six months of the year, Progressive generated $3.79 billion in net income and achieved a combined ratio of 89.1%.

The insurer had ~32.3 million policies at the end June, an increase of 9% compared to June of last year. During the month, Progressive added around 391k new policies to its overall count. Since the beginning of the year, Progressive increased its total PIF count by ~2.6 million.