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Progressive | 10-Q: Q3 2024 Earnings Report

Progressive | 10-Q: Q3 2024 Earnings Report

前進保險 | 10-Q：2024財年三季報
美股SEC公告 ·  11/04 08:24

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Progressive Corporation reported robust Q3 2024 results, with net income rising to $2.33 billion from $1.12 billion in Q3 2023. Net premiums written grew 25% to $19.5 billion, driven by a 29% increase in Personal Lines. The company achieved an 11.0% underwriting margin, up 3.4 points year-over-year, exceeding its 4% target.Personal auto policies in force grew 17% to 22.8 million. Average written premium per policy increased 5% in personal auto and 2% in commercial auto. The loss and LAE ratio improved 8.2 points to 68.1%, benefiting from lower frequency and stable severity trends. However, the expense ratio rose 4.8 points to 20.9% due to increased advertising spend.Progressive incurred $732 million in catastrophe losses, including $563 million from Hurricane Helene. The company ended Q3 with 33.9 million policies in force, up 14% year-over-year. Total capital increased to $34.1 billion, with comprehensive income of $3.9 billion for the quarter. Progressive plans to maintain growth initiatives while targeting its profitability goals.
Progressive Corporation reported robust Q3 2024 results, with net income rising to $2.33 billion from $1.12 billion in Q3 2023. Net premiums written grew 25% to $19.5 billion, driven by a 29% increase in Personal Lines. The company achieved an 11.0% underwriting margin, up 3.4 points year-over-year, exceeding its 4% target.Personal auto policies in force grew 17% to 22.8 million. Average written premium per policy increased 5% in personal auto and 2% in commercial auto. The loss and LAE ratio improved 8.2 points to 68.1%, benefiting from lower frequency and stable severity trends. However, the expense ratio rose 4.8 points to 20.9% due to increased advertising spend.Progressive incurred $732 million in catastrophe losses, including $563 million from Hurricane Helene. The company ended Q3 with 33.9 million policies in force, up 14% year-over-year. Total capital increased to $34.1 billion, with comprehensive income of $3.9 billion for the quarter. Progressive plans to maintain growth initiatives while targeting its profitability goals.
保利保險公司公佈了穩健的2024年第3季度業績，凈利潤從2023年第3季度的11.2億上升至23.3億。淨保險保費增長了25%，達到195億，主要受個人險種29%增長的推動。公司實現了11.0%的承保利潤率，同比上升3.4個百分點，超過了4%的目標。個人汽車保單在保數量增長了17%，達到2280萬。個人汽車和商業汽車的平均保單書面保費分別增長了5%和2%。損失和法定費用（LAE）比率改善了8.2個百分點，降至68.1%，受益於頻率降低和嚴重程度穩定的趨勢。然而，由於廣告支出的增加，費用比率上升了4.8個百分點，達到了20.9%。保利在自然災害損失中承受了73200萬的費用，其中56300萬來自海倫颶風。公司在第3季度結束時擁有3390萬保單在保，同比增加14%。總資本增加至341億，本季度綜合收入爲39億。保利計劃在實現盈利目標的同時保持增長舉措。
保利保險公司公佈了穩健的2024年第3季度業績，凈利潤從2023年第3季度的11.2億上升至23.3億。淨保險保費增長了25%，達到195億，主要受個人險種29%增長的推動。公司實現了11.0%的承保利潤率，同比上升3.4個百分點，超過了4%的目標。個人汽車保單在保數量增長了17%，達到2280萬。個人汽車和商業汽車的平均保單書面保費分別增長了5%和2%。損失和法定費用（LAE）比率改善了8.2個百分點，降至68.1%，受益於頻率降低和嚴重程度穩定的趨勢。然而，由於廣告支出的增加，費用比率上升了4.8個百分點，達到了20.9%。保利在自然災害損失中承受了73200萬的費用，其中56300萬來自海倫颶風。公司在第3季度結束時擁有3390萬保單在保，同比增加14%。總資本增加至341億，本季度綜合收入爲39億。保利計劃在實現盈利目標的同時保持增長舉措。
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