Progressive reports 85.5% CR for August

Progressive released its financial results for August, ending the month with a combined ratio of 85.5% and net income of $835.3 million.

For the first eight months of the year, Progressive generated $5.5 billion in net income and achieved a combined ratio of 88.5%.

The insurer had ~32.41 million policies at the end August, an increase of 13% compared to August of last year. During the month, Progressive added around 513k new policies to its overall count. Since the beginning of the year, Progressive increased its total PIF count by ~3.7 million.