Progressive reports 85.6% CR for November

Progressive released its financial results for November, ending the month with a combined ratio of 85.6% and net income of $1 billion.

For the first eleven months of the year, Progressive generated $7.5 billion in net income and achieved a combined ratio of 89.3%.

The insurer had ~34.73 million policies at the end of November, an increase of 17% compared to November of last year. During the month, Progressive added around 375k new policies to its overall count. Since the beginning of the year, Progressive increased its total PIF count by ~5 million.