share_log

Progressive | 10-Q: Q2 2024 Earnings Report

Progressive | 10-Q: Q2 2024 Earnings Report

前进保险 | 10-Q：2024财年二季报
美股SEC公告 ·  08/05 21:32

Moomoo AI 已提取核心信息

Progressive Corporation reported robust Q2 2024 results, with net premiums written increasing 22% to $17.9 billion and net income rising to $1.5 billion. The company's combined ratio improved to 91.9, down 8.5 points year-over-year, driven by higher average premiums, lower accident frequency, and favorable prior year reserve development.Personal Lines and Commercial Lines each achieved an 11.4% underwriting profit margin, while Property incurred a 66.3% underwriting loss due to catastrophe losses. Total policies in force grew 9% to 32.3 million. The company increased advertising spend by 147% to drive growth while maintaining profitability targets.Progressive's investment portfolio fair value rose to $72.4 billion, with a pretax recurring investment book yield of 3.9%. The company remains focused on balancing growth and profitability, aiming to grow as fast as possible while maintaining a 96 combined ratio. Management anticipates continued growth with rate increases of lesser magnitude than in prior years.
Progressive Corporation reported robust Q2 2024 results, with net premiums written increasing 22% to $17.9 billion and net income rising to $1.5 billion. The company's combined ratio improved to 91.9, down 8.5 points year-over-year, driven by higher average premiums, lower accident frequency, and favorable prior year reserve development.Personal Lines and Commercial Lines each achieved an 11.4% underwriting profit margin, while Property incurred a 66.3% underwriting loss due to catastrophe losses. Total policies in force grew 9% to 32.3 million. The company increased advertising spend by 147% to drive growth while maintaining profitability targets.Progressive's investment portfolio fair value rose to $72.4 billion, with a pretax recurring investment book yield of 3.9%. The company remains focused on balancing growth and profitability, aiming to grow as fast as possible while maintaining a 96 combined ratio. Management anticipates continued growth with rate increases of lesser magnitude than in prior years.
Progressive公司报告了2024年第二季度强劲的业绩，书面净保费增长了22%，达到了179亿美金，净利润上升至15亿美金。公司的综合比率改善至91.9，同比下降8.5个百分点，得益于更高的平均保费、较低的事故发生率以及有利的前期准备金发展。个人保险和商业保险均实现了11.4%的承保利润率，而物业因灾难损失承受了66.3%的承保损失。有效保单总数增长了9%，达到了3230万。公司将广告支出增加了147%，以推动增长，同时维持盈利目标。Progressive的投资组合公允价值上升至724亿美金，税前经常性投资账面收益率为3.9%。公司仍然专注于平衡增长和盈利，旨在尽可能快地增长，同时保持96的综合比率。管理层预计将继续增长，涨幅将低于前几年的幅度。
Progressive公司报告了2024年第二季度强劲的业绩，书面净保费增长了22%，达到了179亿美金，净利润上升至15亿美金。公司的综合比率改善至91.9，同比下降8.5个百分点，得益于更高的平均保费、较低的事故发生率以及有利的前期准备金发展。个人保险和商业保险均实现了11.4%的承保利润率，而物业因灾难损失承受了66.3%的承保损失。有效保单总数增长了9%，达到了3230万。公司将广告支出增加了147%，以推动增长，同时维持盈利目标。Progressive的投资组合公允价值上升至724亿美金，税前经常性投资账面收益率为3.9%。公司仍然专注于平衡增长和盈利，旨在尽可能快地增长，同时保持96的综合比率。管理层预计将继续增长，涨幅将低于前几年的幅度。
有用
没用

该公告为独立文件：

独立文件1  查看翻译

独立文件2  查看翻译

独立文件3  查看翻译

独立文件4  查看翻译

独立文件5  查看翻译

独立文件6  查看翻译

独立文件7  查看翻译

独立文件8  查看翻译

独立文件9  查看翻译

声明：本内容仅用作提供资讯及教育之目的，不构成对任何特定投资或投资策略的推荐或认可。 更多信息
    热议
    美股
    股票代码最新价涨跌幅

    暂无数据

    资讯热榜
    更新时间