State Farm, the largest U.S. auto insurer, is returning $5 billion to auto policyholders through a one-time dividend and rolling back rates in several states. The mutual insurer swung from a multi-year underwriting loss to a large surplus, collecting far more in premiums than it paid in claims and expenses. Progressive posted second-quarter revenue of $22.70 billion and net income of $3.31 billion with a combined ratio of 87.3, while Allstate reported revenue of $18.60 billion and a property-liability combined ratio of 86.6, returning $3.5 billion to shareholders and authorizing a new $4.0 billion buyback. The key question for investors is whether combined ratios drift back toward 90 as rate cuts earn in, which would mark a cycle peak rather than a new baseline.
The Allstate CorporationReturning $3.5B to shareholders and authorizing $4.0B buyback
Progressive CorpStrong Q2 revenue and net income with combined ratio of 87.3
NVIDIA CorporationReturning $5B to policyholders after underwriting surplus
