The Progressive Corporation has reported its financial results for October, showing increases in several segments compared to the prior-year period.
Net premiums written for the month reached $7.00 billion, up 6% from $6.58 billion in October 2024, while net premiums earned totaled $7.08 billion, an 11% increase from $6.39 billion a year earlier.
Net income for October was $846 million, more than double the $408 million reported in the same month last year. Earnings per share available to common shareholders rose to $1.44, compared to $0.69 in October 2024.
The company also reported $57 million in pretax net realized gains on securities, reversing a loss of $88 million in the previous year. The combined ratio improved to 89.7, down from 94.1, a decrease of 4.4 points.
Average diluted equivalent common shares for the month stood at 588.1 million, nearly unchanged from 587.7 million a year ago. As of October 31, 2025, Progressive reported 37.18 million personal lines policies in force, up 12% year over year. This included 10.72 million agency auto policies, 15.80 million direct auto policies, 6.99 million special lines policies, and 3.66 million property policies.
Commercial lines policies in force reached 1.20 million, a 5% increase from a year earlier, bringing the companywide total to 38.38 million, up 12% from October 2024.
The October results build on momentum from earlier in the year. In the second quarter, Progressive reported a significant increase in profit, with net income reaching $3.18 billion, up from $1.46 billion in the same period last year.
Earnings per share for the quarter rose to $5.40 from $2.48, as the company benefited from growth in written premiums, improved underwriting margins, and positive investment results.
Progressive’s underwriting performance also strengthened in the second quarter, as the combined ratio improved to 86.2 from 91.9 a year earlier. Net premiums written for the quarter rose 12% year over year to $20.08 billion, while net premiums earned increased 18% to $20.31 billion.
Policy growth has remained a consistent theme throughout 2025. By the end of June, companywide policies in force totaled 37.3 million, a 15% increase from a year earlier. Direct auto policies grew 21% to 15.2 million, while agency auto policies increased 16% to 10.4 million, reflecting broad-based expansion across personal and commercial lines.
