Auto insurance company Progressive Corp. (PGR), Thursday, reported a profit for the month of August, compared to a year-ago loss, as both net premium written and net premium earned improved year on year.
The Mayfield Village, Ohio-based holding company posted a net income of $55 million or $0.08 per share for the month, compared with a net loss of $135.2 million or $0.20 per share in August last year.
Net premiums earned increased 1% to $1.058 billion from $1.050 billion in August 2008. Net premiums written were up 4% to $1.149 billion from $1.103 billion a year ago.
Combined ratio for the month of August was 95.5%, up 1.2 points from 94.3% last year.
Progressive said that Direct - Auto policies in force increased 12% to 3.07 million from 2.74 million for the month of August in 2008.
Total Personal Lines policies in force grew 4% to 10.85 million from 10.49 million, while total Commercial Auto policies in force decreased 5% to 526.6 thousand from 554.9 thousand for August last year.
Total pretax net realized gains on securities were $5.6 million compared with loss of $317.5 million for the same period last year.
Year-to-date, net income increased to $652.5 million or $0.97 per share from $401.5 million or $0.59 per share in 2008.
Net premiums written increased to $9.566 billion from $9.488 billion, while net premiums earned increased to $9.231 billion from $9.165 billion in the year-ago period. Year-to-date revenues increased 3% to $9.548 billion from $9.261 billion last year.
Progressive said it is scheduled to release its September results on October 14.
PGR is currently trading at $16.58 on the NYSE, down 0.30 or 1.75%.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.