Progressive combined ratio improves 4.2 points to 82.6% in February

By Michael Loney

March 19 - (The Insurer) - Progressive said on Wednesday that its net premiums written increased 17% in February and its combined ratio for the month improved by 4.2 percentage points to 82.6%.

Mayfield Village, Ohio-based Progressive reported $6.68 billion of net premiums written for February, up from $5.72 billion in the same month of 2024.

Net premiums earned increased 18% to $6.04 billion.

Net income increased 26% to $928 million.

The 82.6% combined ratio was an improvement on the 86.8% recorded in February 2024. There was no impact on the combined ratio from catastrophes in the month.

The personal lines carrier finished February with $35.62 billion of policies in force, up 18% from $30.28 billion a year before.

New York-listed Progressive’s share price dropped after markets opened on Wednesday. It was down 4% as of 9:55 a.m. EST compared to yesterday’s closing price of $283.28.