Progressive reports August net income $935M, combined ratio 85.5% vs 97.2% a year ago

PROGRESSIVE CORP/OH/

August net income $935.3M ($1.59 diluted EPS); net premiums written $6.51B, earned $5.97B.
Combined ratio 85.5%, improving from 97.2% in August 2023; current-year loss/LAE ratio 64.5%.
Companywide policies in force 33.4M, up 13% YoY; personal auto policies up 15%.
Year-to-date net income $5.54B ($9.40 diluted EPS); combined ratio 88.5%.
Calendar conversion note: monthly comparisons affected through September 2024.

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