Progressive Corp (NYSE:PGR) shares are moving higher Wednesday. The insurer posted strong first‑quarter results before the market opened. Here’s what you should know.

Progressive stock is showing upward movement. What’s driving PGR shares up?

Earnings Beat, Strong Profit Growth

Progressive reported first-quarter earnings of $4.96 per share, topping analyst expectations of $4.87. Profit rose 6.4% from the same quarter last year, and net income for the quarter climbed to $2.82 billion, up 10% year‑over‑year.

The company also delivered solid top‑line growth. Quarterly sales rose 8% to $20.97 billion, though it didn’t meet the $22.96 estimate. Net premiums written increased 22% year-over-year to $23.64 billion.

Progressive's combined ratio, a key measure of underwriting performance, improved to 86.4, slightly better than last year's 86.0.

March results also showed momentum: net income jumped 36% year‑over‑year for the month, and premiums earned and written both posted double‑digit gains.

Policies in Force Continue to Grow

Progressive ended March with 39.6 million policies in force, up 9% from last year. Growth was broad‑based across personal auto, direct auto, special lines and commercial lines, signaling continued market share gains.

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