Progressive premiums rise 11% in July, combined ratio improves

By Ashish Tiwari

Aug 20 - (The Insurer) - Progressive said on Wednesday that its net premiums written increased 11% to $7.06 billion in July 2025, with continued growth across its personal lines auto and property segments.

The insurer’s combined ratio improved by 2.7 percentage points year on year to 85.3%, reflecting an improvement in underwriting results.

Progressive, the second-largest U.S. auto insurer by premiums, also reported net premiums earned of $6.99 billion for the month, up 15% from a year earlier.

Net income jumped 34% year on year to $1.09 billion, or $1.85 per share, from $814 million, or $1.38 per share, in July 2024.

The personal lines business posted robust growth, with agency auto premiums up 15% and direct auto premiums up 19%. Commercial lines policies in force increased by 7%.

Progressive noted an increase in total net realised gains on securities for the month, up 25% to $79 million.

As previously reported, the insurer posted a 118% increase in second-quarter net profit, along with strong premium growth and a 5.2 point improvement in its combined ratio to 86.2%.

Personal lines president Patrick Callahan said during the company's Q2 investor event that 2025 "continues to be one of our best years on record".

He noted that the insurer added over 2.4 million bundled policies and more than $5 billion in written premiums in the first half of the year.