Progressive Reports May 2014 Results

GlobeNewswire Europe

 

View photo

.

MAYFIELD VILLAGE, OHIO - June 11, 2014 -- The Progressive Corporation (PGR) today reported the following results for May 2014:

(millions, except per share amounts and ratios; unaudited) May     May Change
2014 2013
Net premiums written $ 1,372.0 $ 1,281.6 7 %
Net premiums earned $ 1,387.6 $ 1,315.9 5 %
Net income $ 89.1 $ 116.7 (24) %
     Per share $ .15 $ .19 (23) %
Total pretax net realized gains (losses) on securities
     (including net impairment losses) $ 7.7 $ 63.2 (88) %
Combined ratio 92.7 93.2 (.5) pts.
Average diluted equivalent shares 595.3 603.5 (1) %

(thousands; unaudited) May May
2014 2013 Change
Policies in Force
 Agency - auto 4,882.5 4,849.0 1 %
 Direct - auto 4,404.8 4,123.0 7 %
Total personal auto 9,287.3 8,972.0 4 %
Total special lines 4,041.1 3,998.9 1 %
Total Personal Lines 13,328.4 12,970.9 3 %
Total Commercial Lines 514.6 525.4 (2) %

About Progressive
The Progressive Group of Insurance Companies makes it easy to understand, buy and use auto insurance. Progressive offers choices so consumers can reach it whenever, wherever, and however it`s most convenient-online at http://www.progressive.com, by phone at 1-800-PROGRESSIVE, on a mobile device or in-person with a local agent.

Progressive offers insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes. It`s the fourth largest auto insurer in the country, the largest seller of motorcycle insurance, and a leader in commercial auto insurance. Progressive also offers car insurance online in Australia at http://www.progressiveonline.com.au.

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, Snapshot®, and Service Centers.

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE:PGR.

Company Contact:
Matt Downing
(440) 395-4222

The Progressive Corporation                                                                                                                                
6300 Wilson Mills Road                                                                                                                                             
 Mayfield Village, Ohio  44143                                                                                                                  
http://www.progressive.com

To view the complete release, click the attachment below.

Progressive May 2014 Complete Earnings Release



This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: The Progressive Corporation via GlobeNewswire

HUG#1791907

Rates

View Comments (0)