Progressive reports 84.1% CR for December

Progressive released its financial results for December, ending the month with a combined ratio of 84.1% and net income of $942 million.

In 2024, Progressive generated $8.48 billion in net income and achieved a combined ratio of 88.8%.

The insurer had ~34.95 million policies at the end of December, an increase of 18% compared to December 2023. During the month, Progressive added around 213k new policies to its overall count. In 2024, Progressive increased its total PIF count by ~5.2 million.