Progressive Reports April 2025 Results
Rhea-AI Summary
Progressive reported strong financial results for April 2025, with net income surging 134% to $986 million ($1.68 per share) compared to $421 million in April 2024. The company demonstrated robust growth across key metrics, with net premiums written increasing 11% to $6.84 billion and net premiums earned rising 19% to $6.64 billion. The insurer's efficiency improved significantly, with a combined ratio of 84.9%, down 4.1 points from the previous year.
Progressive's policy growth remained strong, with total policies in force increasing 17% to 36.65 million. Direct auto policies showed the strongest growth at 23%, while agency auto policies grew 18%. The company maintained its position as the second-largest personal auto insurer in the country, with notable presence in commercial auto, motorcycle, boat, and homeowners insurance segments.
Positive
- Net income increased 134% year-over-year to $986 million
- Combined ratio improved by 4.1 points to 84.9%
- Net premiums written grew 11% to $6.84 billion
- Total policies in force increased 17% to 36.65 million
- Strong growth across all segments, particularly in Direct auto (23%) and Agency auto (18%)
Negative
- Realized losses on securities of $3 million
News Market Reaction – PGR
On the day this news was published, PGR declined 1.62%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
MAYFIELD VILLAGE, OHIO, May 21, 2025 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month ended April 30, 2025:
| April | |||||||||||
| (millions, except per share amounts and ratios; unaudited) | 2025 | 2024 | Change | ||||||||
| Net premiums written | $ | 6,837 | $ | 6,178 | 11 | % | |||||
| Net premiums earned | $ | 6,641 | $ | 5,575 | 19 | % | |||||
| Net income | $ | 986 | $ | 421 | 134 | % | |||||
| Per share available to common shareholders | $ | 1.68 | $ | 0.72 | 134 | % | |||||
| Total pretax net realized gains (losses) on securities | $ | (3 | ) | $ | (267 | ) | (99 | ) | % | ||
| Combined ratio | 84.9 | 89.0 | (4.1 | ) | pts. | ||||||
| Average diluted equivalent common shares | 587.7 | 587.4 | 0 | % | |||||||
| April 30, | |||||
| (thousands; unaudited) | 2025 | 2024 | % Change | ||
| Policies in Force | |||||
| Personal Lines | |||||
| Agency – auto | 10,246 | 8,720 | 18 | ||
| Direct – auto | 14,938 | 12,105 | 23 | ||
| Special lines | 6,705 | 6,153 | 9 | ||
| Property | 3,590 | 3,261 | 10 | ||
| Total Personal Lines | 35,479 | 30,239 | 17 | ||
| Commercial Lines | 1,174 | 1,108 | 6 | ||
| Companywide | 36,653 | 31,347 | 17 | ||
See Progressive’s complete monthly earnings release for additional information.
About Progressive
Progressive Insurance® makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. Progressive offers choices so consumers can reach us however it’s most convenient for them — online at progressive.com, by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, or in-person with a local agent.
Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the second largest personal auto insurer in the country, a leading seller of commercial auto, motorcycle, and boat insurance, and one of the top 15 homeowners insurance carriers.
Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, Snapshot®, and HomeQuote Explorer®.
The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE: PGR.
Company Contact:
Douglas S. Constantine
(440) 395-3707
investor_relations@progressive.com
The Progressive Corporation
300 North Commons Blvd.
Mayfield Village, Ohio 44143
http://www.progressive.com
Download PDF: Progressive April 2025 Complete Earnings Release
FAQ
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