Progressive’s May underlying CoR increases 1.4 points to 89.5% sequentially
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Progressive’s May underlying CoR increases 1.4 points to 89.5% sequentially

Farhin Lilywala
June 14, 2023
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Progressive’s underlying combined ratio deteriorated 1.4 points to 89.5% in May from 88.1% in April, driven by its loss ratio.

Shares dipped 3.2% today to $127.44 per share from yesterday’s close.

The company booked another 4.6 points of adverse reserve development during the quarter, with 85% attributed to personal auto and 20% to commercial auto.

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Farhin Lilywala
Section Editor, Distribution & Specialty
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