PGR reports $1.45 billion net income for May, up from $1.07 billion a year ago, alongside a leadership restructuring plan.
Progressive Corp posted a 36% jump in monthly net income to $1.45 billion for May, driven by higher premiums and policy growth. Earnings per share rose to $2.47 from $1.81 in the same period last year.
Net premiums written climbed 6% year-over-year to $7.037 billion, while net premiums earned increased 10% to $7.36 billion. Total policies in force reached 39.97 million, up 8%, with direct auto policies rising 11% to 16.715 million.
The insurer also announced a leadership transition, with Personal Lines President Pat Callahan set to retire in January 2027. Lori Niederst will assume a new role overseeing Personal Lines and CRM operations, while Heather Day takes over as CRM president in July.