Progressive said it reported net premiums written of $5,975.1 million, net premiums earned of $5,857.5 million and net income of $235.7 million for May 2024. Earnings per share available to common shareholders was $0.40.

1. 01

   Progressive said it reported net premiums written of $5,975.1 million, net premiums earned of $5,857.5 million and net income of $235.7 million for May 2024. Earnings per share available to common shareholders was $0.40.

2. 02

   The company said its combined ratio for May was 100.4, compared with 99.0 in the same month a year earlier. It cited severe storms primarily in Texas and the Midwest as the source of net catastrophe losses of $722.1 million, or 12.3 loss ratio points.

3. 03

   Progressive said that through May 31, 2024, year-to-date net premiums written were $31,115.3 million and net income was $2,987.4 million, with a combined ratio of 89.7. It said diluted earnings per share for the year to date were $5.06.

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.

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

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