- Commercial Lines also showed consistent profitability, beating industry combined ratios by 8 to 20 points over the last 20 years despite a challenging commercial auto market.
- Expense ratios, including loss adjustment expenses (LAE), have been reduced over the last decade, contributing to maintaining competitive pricing and profitability.
- Personal auto saw a less than 1% rate decline in the quarter, with increased marketing spend of $2.5 billion year-to-date, up $900 million from last year, supporting growth despite competitive pressures.
- Progressive delivered strong profitability in the first half of 2025, adding over $5 billion in premiums written and nearly 2.4 million additional policies in force (PIFs) compared to the first half of 2024.
- The company outperformed the industry combined ratio by more than 7 points in 2024 and gained over 1.5 points in personal auto market share, the largest share gain by any carrier in 15 years.
- The company’s combined ratio target remains at or below 96, balancing growth and underwriting profit.
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- Average premium per policy increased by 11.9%, with policies in-force growth of 1.7% and a strong policy retention ratio of 89.7%.
- Erie Insurance Exchange's direct and assumed written premiums grew by 9.2% in Q2 2025 and 11.4% in the first half of 2025 compared to the prior year.
- Excluding catastrophe losses and prior accident year reserve development, the direct current year non-catastrophe loss ratio was 94.6% in Q2 and 95.1% year-to-date 2025.
- Indemnity net income was $175 million or $3.34 per diluted share in Q2 2025, up from $164 million or $3.13 per diluted share in Q2 2024.
- Investment income totaled nearly $20 million in Q2 2025, up from $14 million in Q2 2024; year-to-date investment income was $39 million versus $29 million last year.
- Management fee revenue increased 8.3% in Q2 to $824 million and nearly 11% year-to-date to $1.6 billion.
- Non-commission expenses increased 6.1% in Q2 and 7.7% year-to-date, driven by higher IT, sales, advertising, and personnel costs.
- Operating income increased nearly 5% in Q2 to almost $200 million and 7% year-to-date to $350 million, driven by higher management fee revenue.
- Policyholder surplus slightly decreased from $9.3 billion at December 2024 to $9.2 billion at June 2025.
- The Exchange's combined ratio was 116.9% in Q2 2025, slightly higher than 115.9% in Q2 2024, driven by catastrophic weather events contributing 20.7 points versus 16.2 points previously.
- Total cost of operations increased 9.1% in Q2 and 11.5% year-to-date, with commission expenses rising over 10% in Q2 and 13.1% year-to-date.
- Year-to-date combined ratio was 112.6% in 2025 compared to 111.1% in 2024, with catastrophe losses increasing to 18.5 points from 12.7 points.
- Year-to-date Indemnity net income was $313 million or $5.99 per diluted share, compared to $289 million or $5.52 per diluted share last year.
- Commercial revenue in Title was strong, with $626 million in the first half of 2025, up 23% year-over-year.
- F&G segment grew assets under management to $69.2 billion, up 13% year-over-year, with adjusted net earnings of $89 million, down from $122 million in Q2 2024.
- FNF reported strong Q2 2025 results with total revenue of $3.6 billion and adjusted net earnings of $318 million, slightly down from $338 million in Q2 2024.
- Personnel costs and other operating expenses increased by 10%, driven by active recruiting and strategic investments in security and technology.
- The Title segment delivered adjusted pretax earnings of $337 million with a 15.5% margin, slightly below the 16.2% margin in Q2 2024 due to higher expenses.
- Assurant delivered strong Q2 2025 results with adjusted EBITDA up 13% and adjusted EPS up 17%, excluding reportable catastrophes.
- Global Automotive earnings were modestly up, supported by improved loss experience and an 8% increase in net written premiums year-to-date.
- Global Housing segment showed robust growth with adjusted EBITDA up 25% year-to-date excluding catastrophes and 18% growth in Q2 excluding cats.
- Global Lifestyle segment earnings increased 2% year-to-date on a constant currency basis, with Connected Living adjusted EBITDA up 4% year-to-date.
- Year-to-date adjusted EBITDA increased 14% and adjusted EPS rose 16%, excluding catastrophes.
- Debt-to-capital ratio was reduced to less than 10% following redemption of $172 million in convertible notes.
- HCI reported earnings of $5.18 per share for Q2 2025, up from $4.24 in Q2 2024.
- Operating expenses as a percentage of premiums declined, contributing to improved profitability.
- Pretax income for the quarter was just over $94 million, with year-to-date pretax income at $195 million.
- Shareholders' equity grew to $759 million, a 65% increase year-to-date, with book value per share rising to $58.55.
- The net combined ratio improved to just under 62%, driven by a gross loss ratio of 21.3%, down more than 6 points from the prior year.
- Asset quality improved with decreases in nonaccrual loans, criticized loans, and past due loans.
- Deposits remained flat, partly due to efforts to control deposit costs.
- Loan growth was approximately 7% on an annualized basis in Q2, with early indications of increased loan demand in July.
- Loan loss reserves are deemed sufficient to cover any exposures.
- Net interest margin improved to 3.85% from 3.75% last quarter.
- Preferred Bank reported a second quarter net income of $32.8 million or $2.52 per share, showing reasonable improvement from the previous quarter.
- The bank repurchased $56 million of stock this quarter, which slightly impacted net interest income, PPNR, and net interest margin.
- Earnings per share rose sharply by 86% to $2.49 compared to Q2 2024, driven by record collections and operational efficiency.
- Encore Capital Group reported strong Q2 2025 financial results with portfolio purchases up 32% to $367 million and collections increasing 20% to a record $655 million.
- Leverage improved slightly to 2.6x from 2.7x a year ago and remained flat compared to Q1 2025 despite increased portfolio purchases.
- Net income increased 82% to $59 million, with operating expenses growing 15% to $291 million, reflecting onboarding of new portfolios.
- Portfolio revenue increased 12% to $361 million, supported by a 14% growth in average receivable portfolios and improved portfolio yield of 35.5%.
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