Progressive April net income $986M (+134% YoY); combined ratio improves to 84.9

PROGRESSIVE CORP/OH/

2025-Q1 EPS reported $4.37 revenue$20,409,000,000

Net premiums written $6.84B (+11% YoY); net premiums earned $6.64B (+19%).
Diluted EPS $1.68, up 134% from $0.72 in April 2024.
Combined ratio 84.9, down 4.1 points from 89.0, driven by lower loss/LAE ratio.
Policies in force grew 17% to 36.65M; Personal Lines direct auto up 23%.
Year-to-date net income $3.55B vs $2.75B; total comprehensive income $4.82B.

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