Progressive Corp. at this time reported second quarter 2024 outcomes of about $1.5 billion and a mixed ratio of 91.9.
Outcomes for the Mayfield Village, Ohio-based insurer are compared to second quarter 2023 internet revenue of $345.4 million and a mixed ratio of 100.4.
Web premiums written throughout Q2 had been up 22% over the prior yr quarter to about $17.9 billion.
Progressive additionally reviews month-to-month outcomes. For June, internet revenue was about $803 million. The insurer stated in June it elevated its private strains loss estimates about $115 million and decreased property loss estimates by about $12 million relative to Might storms.
Progressive stated Might storms occurred on the finish of the month, which made estimating losses a problem since a really low quantity of claims had been reported on the time. The insurer added that as of June 20, it’s near reaching annual retention thresholds of its 2024 mixture excess-of-loss contracts.
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