Progressive Insurance has released its financial results for August 2024.

According to the insurance company, its net income in August was $935.3 million. Net written premiums and net earned premiums were $6.51 billion and $5.97 billion, respectively.

Meanwhile, the latest combined ratio was 85.5%, an improvement from 97.2% last year.

Read more: Progressive and The Hartford Announce Small Business Growth and Mental Health Initiatives

In addition, Progressive’s active policies grew across all segments: personal lines, commercial lines and real estate businesses. The total active policies reached 33.4 million.

In August, the company introduced “We exist to help people move forward and live fully” as its new purpose statement.

The brand purpose seeks to “amplify” the insurance company’s commitments while continuing to support existing initiatives that extend to progress on the road, at home, and in business.

Read more: Progressive Insurance Unveils New Brand Purpose

“A lot of people may not know this, but Progressive’s founding strategy was to help create access to insurance for an underserved market,” said Remi Kent, chief marketing officer, at the time. “Protecting and providing access to insurance is part of our DNA.”

Progressive, which seeks to be known as the first purpose-driven insurance company, seeks to partner with organizations and experts from the public and private sectors to help achieve its goals and support its more than 60,000 employees.

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