Progressive Reports Personal Auto Policies in Force Up Nearly 17% in September

Progressive Corporation, a leading personal auto insurance provider, experienced significant growth in its policies in force and premiums during the third quarter of 2024. The company’s total personal auto policies in force increased by 16.8% year-over-year in September, reaching a new record high. This growth was driven by both agency and direct sales channels.

In terms of financial performance, Progressive’s net written premiums surged by 25% in the third quarter compared to the previous year. However, the company’s combined ratio, a measure of underwriting profitability, increased slightly during this period. Despite this, Progressive remains a dominant player in the U.S. auto insurance market, holding the second-largest position based on direct premiums written.

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