Progressive Corp.

Record Growth in Net Premiums: In 2024, Progressive reported a net premium written growth of approximately 21% year-over-year, reaching $74.4 billion. This growth of nearly $13 billion in premiums in a single year is significant, equivalent to adding the premium of the eighth largest auto insurer in 2023 and surpasses previous growth rates in the company’s history.

Strong Profitability Performance: Progressive achieved an impressive combined ratio (CR) of 88.8 in 2024, well below the company’s stated goal of 96. This represents a six-point improvement from 2023, illustrating the company’s ability to balance growth with profitability during a period of increased customer acquisition.

Employee Engagement and Culture: The company ranks in the 98th percentile for employee engagement and 99th percentile for overall satisfaction according to Gallup. This high level of employee morale is seen as a competitive advantage that supports enhanced performance and customer satisfaction.