Progressive Posts August Loss Amid Hurricane Claims
September 17 2021 - 8:55AM
Dow Jones News
By Matt Grossman
Progressive Corp. Friday posted a monthly loss in August as
claims from Hurricane Ida weighed on the company's net result.
Progressive logged an August net loss of $6.6 million, or 2
cents a share. Last year, the insurer's August earnings were $487.4
million, or a profit of 83 cents a share.
Revenue in the month was $3.79 billion, against expenses of $3.8
billion.
The company recorded $341.9 million of catastrophe losses
associated with Hurricane Ida in August.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
September 17, 2021 08:40 ET (12:40 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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