Progressive reports Nov net income up 48% YoY; combined ratio 85.6

PROGRESSIVE CORP/OH/

Net income $1.01B ($1.71 diluted EPS) vs $680.6M ($1.15) in Nov 2023.
Net premiums written $5.56B (+18% YoY); net premiums earned $6.04B (+19%).
Companywide combined ratio 85.6, improved 5.5 pts vs 91.1 a year ago.
Total policies in force 34.7M (+17% YoY); personal auto policies 23.6M (+21%).
Board declared annual dividend of $4.50 and quarterly $0.10, payable Jan 16, 2025.

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