Progressive reports 88% CR for July

Progressive released its financial results for July, ending the month with a combined ratio of 88% and net income of $813.5 million.

For the first seven months of the year, Progressive generated $4.6 billion in net income and achieved a combined ratio of 88.9%.

The insurer had ~32.89 million policies at the end July, an increase of 11% compared to July of last year. During the month, Progressive added around 588k new policies to its overall count. Since the beginning of the year, Progressive increased its total PIF count by ~3.2 million.