Progressive Corp. December Profit Up 5%; Q4 Profit Up 19%

(RTTNews) - Insurer Progressive Corp. (PGR) reported that December 2024 net income was $942 million or $1.60 per share, up 5 percent from $901 million or $1.53 per share in December 2023.

Net premiums written for the month improved 22 percent to $5.96 billion and net premiums earned grew 26 percent to $6.72 billion from December 2023.

Companywide total policies in force in December grew 18 percent to 34.95 million from 29.69 million in December 2023.

For the fourth quarter, net income was $2.36 billion or $4.01 per share, up 19 percent from $1.99 billion or $3.37 per share in the prior-year quarter.

Net premiums written for the quarter grew 20 percent to $18.11 billion and net premiums earned increased 21 percent to $19.14 billion in the year-ago quarter.