Progressive(PGR)2025-03-03 15:34Financial Performance - Total investment income for 2024 was 2.3 billion in 2023 and a loss of 3.3 billion in 2024, compared to 4.3 billion in 2022[67] - The service businesses represented less than 1% of total revenues for 2024, 2023, and 2022, indicating minimal impact on overall operations[68] - The company’s liabilities for property-casualty losses and loss adjustment expenses are determined using actuarial and statistical procedures[69] Employee Engagement and Retention - The annualized employee retention rate for 2024 was 89%, an increase of three percentage points from the previous year[76] - Over 75% of open positions above entry level were filled by promoting from within, including over 2,100 managerial positions in 2024[76] - The company’s engagement and culture survey results placed it in the top 2% of all companies surveyed, indicating high employee engagement[75] - As of December 31, 2024, the company had approximately 66,300 employees[76] - The company has nine Employee Resource Groups (ERGs), with 44% of employees belonging to at least one ERG as of December 31, 2024[80] - The company offers a 401(k) plan with up to a 6% company match as part of its employee benefits[83]