Progressive ends August with 97.2% combined ratio

Progressive released its financial results for August, ending the month with a 97.2% combined ratio, a 3.6 point increase compared to August of last year.

The insurer ended the month with a net income of $148 million and a total of 29.5 million policies.

In terms of policies in force, August is the first month this year without policy growth. Progressive reported 65.4k fewer policies in August compared to July. Overall, Progressive’s PIF count grew 11% YoY. 

Month Total Policies (thousands) Net New Policies From Previous Month
Jan 27,824.0 471K
Feb 28,326.0 502K
Mar 28,789.5 464K
Apr 29,269.4 480K
May 29,506.3 237K
Jun 29,576.8 70.5K
Jul 29,640.3 63.5K
Aug 29,574.9 N/A