Progressive reports 100.4% CR for September

Progressive released its financial results for September, ending the month with a combined ratio of 100.4% and net income of $305 million.

The combined ratio includes 17.8 points of Florida policyholder credits in the personal lines vehicles agency channel and 15.9 points in the personal lines vehicles direct channel. Excluding these policyholder credits, the total personal lines business would have reported a combined ratio of 86.5.

Year-to-date, Progressive’s net income stands at $8.35 billion and combined ratio sits at 87.3%.

The insurer had ~38 million policies at the end of September, an increase of 12% compared to September 2024. During the month, Progressive added around 188k policies to its overall count. Since the beginning of the year, Progressive added 3.1 million policies to its overall count.