Progressive ends July with 90.6% combined ratio

Progressive released its financial results for July, ending the period with a 90.6% combined ratio, a slight increase compared to July of last year.

The insurer ended the month with a net income of $604 million and a total of 29.6 million policies.

Policy growth in July has been the lowest since the beginning of the year, following Progressive’s decision to reduce advertising spend and tighten verification and underwriting scrutiny of new business.