Progressive share price jumps 9% on higher July UW gain driven by 20% NEP growth

Progressive’s July underwriting gain increased by 11 percent year on year to $531mn, driven by net earned premiums that grew 20 percent to $5.7bn to more than offset a 0.8 point increase in its combined ratio to 90.6 percent as cat losses almost tripled from $66mn to $181mn.


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