The Progressive Corporation (NYSE: PGR), an insurance holding company, has reported a modest increase in net income for October 2024.
- Net income came in at $408.2 million in October, compared to $406.0 million in the comparable month of 2023
- On a per-share basis, October earnings rose to $0.69 from $0.68 last year
- Net premiums written were $6.58 billion during the month, compared to $5.53 billion in October 2023
- Net premiums earned increased 19% to $6.69 billion in October from $5.38 billion a year earlier
- The company reported a combined ratio of $94.1% for the month, vs. 91.7% last year
- At the end of the month, the company had 34.36 million policies in force, which is up 16% from the year-ago period