Progressive Reports March 2025 Results
Rhea-AI Summary
Progressive (NYSE:PGR) has released its financial results for March 2025, showing mixed performance. Net premiums written increased by 17% to $9,041 million in March 2025, while net premiums earned grew 20% to $6,787 million. However, net income declined 42% to $522 million compared to March 2024.
The company's combined ratio deteriorated to 90.9 from 84.3 year-over-year. Total policies in force grew 18% companywide to 36,292 thousand, with notable growth in Direct auto (25%) and Agency auto (18%) segments. The company experienced pretax net realized losses on securities of $211 million, compared to gains of $59 million in the previous year.
Positive
- Net premiums written increased 17% to $9,041 million
- Net premiums earned grew 20% to $6,787 million
- Total policies in force increased 18% companywide
- Strong Direct auto insurance growth of 25%
- Quarter net income grew 10% to $2,567 million
Negative
- Monthly net income declined 42% to $522 million
- Combined ratio deteriorated to 90.9 from 84.3
- Pretax net realized losses on securities of $211 million
- Earnings per share decreased 42% to $0.89
News Market Reaction 1 Alert
On the day this news was published, PGR declined 0.35%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
MAYFIELD VILLAGE, OHIO, April 16, 2025 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month and quarter ended March 31, 2025:
| March | Quarter | |||||||||||||||||||
| (millions, except per share amounts and ratios; unaudited) | 2025 | 2024 | Change | 2025 | 2024 | Change | ||||||||||||||
| Net premiums written | $ | 9,041 | $ | 7,746 | 17 | % | $ | 22,206 | $ | 18,962 | 17 | % | ||||||||
| Net premiums earned | $ | 6,787 | $ | 5,634 | 20 | % | $ | 19,409 | $ | 16,149 | 20 | % | ||||||||
| Net income | $ | 522 | $ | 893 | (42 | ) | % | $ | 2,567 | $ | 2,331 | 10 | % | |||||||
| Per share available to common shareholders | $ | 0.89 | $ | 1.52 | (42 | ) | % | $ | 4.37 | $ | 3.94 | 11 | % | |||||||
| Total pretax net realized gains (losses) on securities | $ | (211 | ) | $ | 59 | (458 | ) | % | $ | (212 | ) | $ | 156 | (236 | ) | % | ||||
| Combined ratio | 90.9 | 84.3 | 6.6 | pts. | 86.0 | 86.1 | (0.1 | ) | pts. | |||||||||||
| Average diluted equivalent common shares | 587.7 | 587.4 | 0 | % | 587.7 | 587.3 | 0 | % | ||||||||||||
| March 31, | |||||
| (thousands; unaudited) | 2025 | 2024 | % Change | ||
| Policies in Force | |||||
| Personal Lines | |||||
| Agency – auto | 10,146 | 8,593 | 18 | ||
| Direct – auto | 14,771 | 11,855 | 25 | ||
| Special lines | 6,637 | 6,076 | 9 | ||
| Property | 3,576 | 3,209 | 11 | ||
| Total Personal Lines | 35,130 | 29,733 | 18 | ||
| Commercial Lines | 1,162 | 1,101 | 6 | ||
| Companywide | 36,292 | 30,834 | 18 | ||
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 March 2025 Complete Earnings Release
FAQ
What was Progressive's (PGR) net premium growth rate in March 2025?
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What was Progressive's (PGR) combined ratio in March 2025?
How many policies in force did Progressive (PGR) have as of March 2025?
What was Progressive's (PGR) performance in Direct auto insurance segment?
