Progressive Corp. mentioned it’s fourth quarter 2024 earnings elevated 19% to about $2.4 billion in comparison with the identical interval the prior yr.
The Mayfield Village, Ohio-based insurer, in reporting monetary outcomes for December 2024 that included a 5% enhance in web earnings to $942 million, mentioned the mixed ratio for This autumn 2024 was 87.9.
For the yr 2024, web earnings greater than doubled to $8.5 billion in comparison with $3.9 billion for 2023.
Web premiums written in 2024 have been up 21% over the prior yr to about $74.4 billion. The mixed ratio for the yr was 88.8, together with 3.6 factors from web disaster losses, Progressive mentioned.
Private traces web premiums written have been up 23% for the yr to about $63.5 billion. NPW was up 27% for the insurer’s direct channel, and up 21% for company. The mixed ratio for private traces in 2024 was 88.6.
Progressive gave no extra commentary in its launch of December outcomes. The insurer will maintain an investor name on March 4.
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Profit Loss
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