Progressive reports 89% CR for April

Progressive released its financial results for April, ending the month with a combined ratio of 89% and net income of $420.3 million.

For the first four months of the year, Progressive generated $2.7 billion in net income and achieved a combined ratio of 86.8%.

The insurer had ~31.3 million policies at the end April, an increase of 7% compared to April of last year. During the month, Progressive added around 513k new policies to its overall count.