Progressive October net income $406M, combined ratio 91.7% (improved from 95.9%), policies +9%

PROGRESSIVE CORP/OH/

2023-Q3 EPS reported $3.21 revenue$45,217,300,000

October net income $406M ($0.68 diluted EPS); combined ratio improved to 91.7% from 95.9% YoY.
Net premiums written $5.53B, earned $5.38B; policies in force up 9% to 29.6M.
Total portfolio return -0.3% for month, +1.8% YTD; pretax annualized investment income yield 3.4%.
Company changed to Gregorian calendar closing; monthly year-over-year comparisons may be affected through Sep 2024.
YTD 2023 net income $2.32B ($3.90 diluted EPS); book value per share $29.18.

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