The company ended Q2 2024 with 32.3 million policies in force, up from the same period last year. This growth was supported by increases in both personal and commercial lines.

New personal auto applications increased by 34% in Q2 2024 compared to Q2 2023, reflecting the company's focus on driving growth through increased advertising spend and unwinding non-rate restrictions.

The company is focusing on growing new business in less volatile weather states and home and auto bundles, as well as lower-risk properties, such as new construction or homes with newer roofs, in regions where their appetite to write new business is limited.

The company's underwriting profit margin improved to 8.1% in Q2 2024, compared to -0.4% in Q2 2023. This improvement was driven by higher average earned premium per policy, lower incurred loss frequency, and favorable prior accident years reserve development.

Advertising spend increased by nearly 150% in Q2 2024, reflecting the company's focus on maximizing growth. This increase brought year-to-date advertising costs to $1.6 billion.

The company continued to lift the non-rate actions implemented last year in their vehicle businesses, as their focus shifted from achieving their target profit margin to driving growth, delivering competitive rates to consumers, and providing an exceptional customer experience to their policyholders.

The Property business experienced an underwriting loss with a combined ratio of 166.3, which included catastrophe losses of 75.6 points. The company noted severe weather events throughout the United States as the cause.

The company is named as a defendant in various lawsuits, including class action lawsuits, challenging certain of its operations. An unfavorable result in these lawsuits could have a material adverse effect on the company's financial condition.

The company's fixed-income portfolio is exposed to credit risk, which is managed by maintaining an A+ minimum average portfolio credit quality rating. The company also monitors and manages prepayment and extension risk.

The company believes they are adequately priced in most states for their personal auto and core commercial auto products, and will continue to take rate increases in their TNC business to address profitability issues.

The company is focused on delivering competitive rates to consumers and had eight personal auto states with small rate decreases during the second quarter.

The company is focused on increasing customer retention and is making investments to improve the customer experience in order to support that goal.

The company's expense ratio increased by 2.5 points over the second quarter 2023, primarily due to increased advertising spend. This increase partially offset the favorable impact to profitability from improved loss ratios.

The company is focused on efficiently managing operational non-acquisition expenses, with the non-acquisition expense ratio decreasing for Personal and Commercial Lines, but increasing for Property.

The company is focused on improving the accuracy of their rating process through Snapshot, their usage-based insurance offering.

The company continues to invest in their mobile application, with mobile devices being chosen for Snapshot monitoring for the majority of new enrollments.

The company continues to expand their product offerings, including adding states where they offer their BOP product, as well as adding these product offerings to their digital platform.

The company is focused on delivering competitive rates to consumers and had eight personal auto states with small rate decreases during the second quarter.

The company repurchased 0.3 million common shares, at a total cost of $48.0 million, in the first six months of 2024, including 0.1 million shares in the second quarter 2024. These repurchases were made in the open market and to satisfy tax withholding obligations in connection with the vesting of equity awards.

The company redeemed all of their outstanding Serial Preferred Shares, Series B, in the first quarter of 2024, at a cost of $507.8 million, including accrued and unpaid dividends.

The company returned capital to shareholders through common share dividends, declaring a $0.10 per common share dividend in both the first and second quarters of 2024.

The provided 10-Q filing does not contain any specific information about environmental, social, or governance initiatives or disclosures.

The company is monitoring economic conditions, and believes that they are in a strong position to face the current dynamic operating and investment marketplaces.

The company is monitoring changes in the underlying costs, such as general inflation, used car prices, vehicle repair costs, medical costs, health care reform, court decisions, and jury verdicts, along with regulatory changes and other factors that may affect severity.

The company noted that the for-hire transportation BMT continues to be adversely impacted by challenging freight market conditions that have caused a decline in the active number of motor carriers in this BMT.