Progressive Corporation (NYSE:PGR) announced its financial results for April 2024, revealing strong performance and strategic adjustments.

According to the report filed with the SEC on May 15, 2024, the company managed to generate net premiums written totaling $6,178 million for the month and a cumulative $25,140.2 million for the year so far.

Notably, net income for April stood at $420.3 million, translating to $0.72 per share for common shareholders.

The filing also noted a total pretax net realized loss on securities of $266.1 million.

Meanwhile, Progressive's combined ratio for the year was 89, showing a significant improvement from the previous year's April ratio of 97.9.