Progressive News
Commercial Auto Insurers Face Bleak Profit Outlook
Underwriting losses in U.S. commercial auto have returned to pre-pandemic levels and rate increases have not been enough to keep up with severity trends. "The liability component has been more ...
Progressive Nonrenews 100,000 Homeowner and Dwelling Fire Policies in Florida
Almost two years after Progressive Insurance announced it would stop renewing some homeowners policies in Florida, Flo and crew have dropped another 100,000 homeowner and ...
Rate Hikes Not Bringing Profit to U.S. Auto Insurers: Fitch
Jumps in rates and written premiums did little to move the needle on underwriting profits for U.S. personal auto insurers, Fitch Ratings reported based on a recent review of midyear results of nine ...
Progressive’s Q2 Worsens in Spite of Double-Digit Auto Premium Growth
Progressive's combined ratio came in just above breakeven for the second quarter of 2023, in spite of personal lines earned premium growth of more than 22 percent. The company second-quarter combined ...
Progressive Falling Short of CR Target; 10 More Points of Rate This Year
With loss reserve actions moving Progressive's first-quarter calendar year combined ratio up to 99, the company is tightening underwriting, cutting advertising spend and taking more rate actions, the ...
Reserve Hits Push Progressive Q1 Combined to 99; Fla. Impact Noted
Progressive's combined ratio for the first quarter came in just a point under breakeven, with 4.6 points of the 99 combined ratio across all lines attributable to unfavorable loss reserve ...
Telematics Master Class: How Progressive Offers Competitive Prices
During an investor conference last week, Progressive's leader revealed some subtle wording changes to the company's purpose and vision. Unchanged, however, are four pillars of Progressive's strategy, ...
Progressive CEO: Early Rate Actions Helped Growth
Progressive Corp. posted full-year 2022 net income of $721.5 million, down about 78 percent from net income of $3.35 billion the prior year, due to losses in its ...
Unfavorable Reserve Development of $330M in January: Progressive
Progressive Corp. said net income for the month of January was $449.4 million compared with $25.8 million the same month in 2022 as gains on securities were $245.6 ...