AI English summary of an SEC filing — figures as filed

Progressive said net income for Q1 2024 was $2,331.4 million, a 421% change from Q1 2023 $447.9 million, and diluted earnings per share were $3.94.

8-KResults of Operations and Financial ConditionFiled Apr 12, 2024Period of report Apr 12, 2024Summary published (UTC) Oct 21, 2026

Key points

AI summary

Progressive said net income for Q1 2024 was $2,331.4 million, a 421% change from Q1 2023 $447.9 million, and diluted earnings per share were $3.94.
The company said net premiums written for Q1 2024 changed 18% to $18,962.2 million, and net premiums earned changed 19% to $16,148.6 million. It also said its combined ratio was 86.1, which was 12.9 pts. lower than 99.0 for Q1 2023.
The company said net income for March 2024 was $893.6 million, net premiums earned were $5,633.5 million, and the combined ratio was 84.3. It added that the net catastrophe loss ratio for March was 3.3.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call. Some paragraphs were omitted because their support in the source could not be confirmed.

Progressive Net Income for Q1 2024 $2,331.4 million

Progressive said net income for Q1 2024 was $2,331.4 million, a 421% change from Q1 2023 $447.9 million, and diluted earnings per share were $3.94.

Source · Based on the filing body and exhibits

Progressive Net Premiums Written and Earned Rise, Combined Ratio 86.1 in Q1

The company said net premiums written for Q1 2024 changed 18% to $18,962.2 million, and net premiums earned changed 19% to $16,148.6 million. It also said its combined ratio was 86.1, which was 12.9 pts. lower than 99.0 for Q1 2023.

Source · Based on the filing body and exhibits

Progressive Monthly Net Income and Combined Ratio 84.3 for March

The company said net income for March 2024 was $893.6 million, net premiums earned were $5,633.5 million, and the combined ratio was 84.3. It added that the net catastrophe loss ratio for March was 3.3.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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