Insurance holding company Progressive Corporation (NYSE: PGR) reported double-digit growth in premiums and earnings for the third quarter of fiscal 2025.
- Third-quarter net income increased to $2.62 billion from $2.33 billion in the corresponding quarter of FY24
- On a per-share basis, Q3 earnings were $4.45, compared to $3.97 in the prior-year quarter
- Net premiums written rose to $21.4 billion in the September quarter from $19.46 billion in last year’s Q3
- At $20.8 billion, net premiums earned were up 14% year-over-year in the third quarter
- At the end of the quarter, the number of company-wide policies was 38.1 million, up 12% YoY
- In September, net income declined 48% year-over-year to $305 million or $0.52 per share
- At $7.2 billion, net premiums written were up 8% year-over-year in September