Progressive reports 87.3% CR for January

Progressive released its financial results for January, ending the month with a combined ratio of 87.3%.

The insurer ended the month with a net income of $700 million.

The company reported 29.95 million policies, an increase of ~262k policies compared to December 2023. The company’s personal auto line ended January with 19.7 million policies in force, an increase of 217k from December.