Progressive’s April combined ratio improves 4.1 points to 84.9%

By Chris Munro

May 21 - (The Insurer) - Progressive Corporation’s April 2025 combined ratio improved by 4.1 points year on year to 84.9% as a reduction in its loss and loss adjustment expense (LAE) ratio more than offset a higher expense ratio.

The Mayfield Village, Ohio-based company’s loss and LAE ratio totalled 65.1% for April 2025, compared with 70.3% in April 2024.

Its expense ratio increased by 1.1 points year on year to 19.8%.

Progressive’s April 2025 net catastrophe loss ratio improved by 70 basis points year on year to 3.1%.

The company booked $118 million of favorable prior accident year development in April 2025, compared with unfavorable development of $13.5 million in the same month last year.

Net premiums written in April 2025 totalled $6.84 billion in April 2025, up 11% year on year.

Progressive’s net income increased to $986 million in April 2025, compared with the prior year’s $421 million.

The company’s total policies in force (PIF) increased 17% year on year to almost 36.7 million as of April 30, 2025, up from just over 31.3 million at the same point in 2024.

Growth in personal lines policies led the way, with 35.5 million in force as of April 30, 2025, up 17% from the same point last year.

Commercial lines PIF grew 6% year on year to 1.17 million at April 30, 2025.