Insurance holding company Progressive Corporation (NYSE: PGR) has reported a sharp increase in net income for May 2025, helped by strong premium growth.
- May 2025 net income came in at $1.07 billion, vs. $235.0 million in the comparable month of 2024
- On a per-share basis, earnings increased sharply to $1.81 from $0.40 in the prior-year period
- Net premiums written were $6.63 billion during the month, compared to $5.98 billion in May last year
- Net premiums earned increased 15% to $6.72 billion from $5.86 billion a year earlier
- The company reported a combined ratio of $86.9% for the month, compared to 100.4% last year
- At the end of the month, Progressive had 37 million policies in force, which is up 16% from the year-ago period