Progressive July NPW +21% to $5.95B, net income -12% to $604M, combined ratio 90.6

PROGRESSIVE CORP/OH/

2023-Q2 EPS reported $1.32 revenue$29,656,700,000

Net premiums written $5.95B (+21% YoY); net premiums earned $5.65B (+20%).
Net income $604M (-12% YoY); diluted EPS $1.02 (-13% from $1.17).
Combined ratio 90.6 vs 89.8 (up 0.8 pts); net catastrophe loss ratio 3.2%.
Total policies in force 29.6M (+11% YoY); personal auto policies 19.6M (+14%).
Calendar discrepancy boosted personal auto written premium growth ~3% in July; accounting calendar change planned Q4 2023.

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