Progressive records negative combined ratio in June

Progressive released its financial results for June, ending the period with a 104.9% combined ratio, a 10.2 points increase compared to June of last year.

The insurer ended the month with a net income of $41 million, adding just over 3 million policies since June 2022.

It appears that the slowdown in growth is continuing – Progressive added 70.5k new policies in June, a significant decline compared to previous months this year.