---
title: "Progressive's quarterly profit surges on strong demand for auto insurance policies"
description: "Progressive Corp reported a more than fourfold increase in its second-quarter profit, driven by strong demand for personal auto insurance policies. The company's net premium written jumped 22% to $17."
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/209010325.md"
published_at: "2024-07-16T13:19:27.000Z"
---

# Progressive's quarterly profit surges on strong demand for auto insurance policies

> Progressive Corp reported a more than fourfold increase in its second-quarter profit, driven by strong demand for personal auto insurance policies. The company's net premium written jumped 22% to $17.90 billion, and its combined ratio improved to 91.9%. Progressive's shares have gained 36.3% this year.

July 16 (Reuters) - Insurer Progressive Corp (PGR.N) posted a more than fourfold jump in its second-quarter profit on Tuesday, driven by strong demand for its personal auto insurance policies, sending its shares up 3.5% in premarket trading.

Rising wages and a strong labor market encouraged customers to revive their spending on auto insurance, one of Progressive’s core businesses.

The company has also benefited from large pricing increases in personal auto insurance premiums.

Mayfield Village, Ohio-based Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles and homes.

The company had 21.5 million personal auto insurance policies in force, up 10% over the year earlier. Property business policies were also up 12% in the quarter.

Net premium written jumped 22% to $17.90 billion.

Progressive’s combined ratio was 91.9%, compared with 100.4% a year earlier. A ratio below 100% means the insurer earned more in premiums than it paid out in claims.

Net income of the insurer rose to $1.46 billion, or $2.48 per share, in the quarter, from $345.4 million, or $0.57 per share, a year earlier.

Progressive’s shares have gained 36.3% so far this year, compared with an 18% gain in the S&P 500 (.SPX) index during the period.

### Related Stocks

- [PGR.US - Progressive](https://longbridge.com/en/quote/PGR.US.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| 如果你在 10 年前投資 1000 美元於美國前進保險的股票，那麼今天你將擁有這麼多 | Progressive (NYSE:PGR) 在過去十年中表現優於市場，平均年回報率為 20.61%，比市場高出 7.1%。十年前對 PGR 股票的 1000 美元投資現在價值為 6490.79 美元，反映出複利對投資增長的顯著影響。Pro | [Link](https://longbridge.com/en/news/276185411.md) |
| 解析美國前進保險：20 位分析師分享他們的看法 | 過去三個月，20 位分析師對美國前進保險（NYSE:PGR）進行了評估，顯示出混合的看漲和看跌情緒。12 個月的平均目標價為 251.08 美元，低於 259.37 美元。最近的行動包括來自 Keefe, Bruyette & Woods  | [Link](https://longbridge.com/en/news/276329165.md) |
| Progress 報告一月份淨收入為 11.6 億美元，綜合比率為 84.4%，保費收入增長了 4% | Progress 報告稱，1 月淨收入為 11.6 億美元，比去年增長 4%。淨保費收入達到 67.35 億美元，同比增長 4%。綜合比率為 84.4，略遜於 2025 年 1 月的 84.1。有效保單數量增加了 10%，達到 38,875 | [Link](https://longbridge.com/en/news/276245951.md) |
| 美國前進保險可能會公佈顯著的第一季度財報超預期，銀行表示 | 美銀表示，Progressive 可能會在財務第一季度實現顯著超預期 | [Link](https://longbridge.com/en/news/275341606.md) |
| 美國前進保險公司（PGR）：看漲理論 | 在 CompoundingLab 的 Substack 上討論了對美國前進保險（PGR）的看漲論點。截至 2 月 4 日，PGR 的股價為 205.54 美元，按照 Yahoo Finance 的數據，其市盈率（P/E）分別為 10.45  | [Link](https://longbridge.com/en/news/275208132.md) |

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.