Total personal auto policies in force were down month-over-month.
The Progressive Corporation (NYSE:PGR) reported its total personal auto insurance policies in force were 19,479,600 in October, down 39,000 or 0.2% from 19,518,600 in September. October’s policies in force represent an increase of nearly 1.8 million or 10.2 % from 17,680,400 in October 2022.
While up on an annual basis, the dramatic growth in Progressive’s policies in force has stopped. Progressive auto insurance policies in force peaked at 19,666,500 in May, up 14.3% over May 2022. June’s result, though slightly down from May, was actually up at a slightly higher percentage
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.