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Progressive Reports August 2022 Results

Progressive Corporation
Progressive Corporation

MAYFIELD VILLAGE, OHIO, Sept. 15, 2022 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for August 2022:

 

August

(millions, except per share amounts and ratios; unaudited)

2022

 

2021

 

Change

 

 

 

 

 

Net premiums written

$

4,081.1

 

 

$

3,890.9

 

 

5%

Net premiums earned

$

3,835.4

 

 

$

3,513.8

 

 

9%

Net income (loss)

$

119.7

 

 

$

(6.6

)

 

NM

Per share available to common shareholders

$

0.20

 

 

$

(0.02

)

 

NM

Total pretax net realized gains (losses) on securities

$

(175.4

)

 

$

131.5

 

 

(233) %

Combined ratio

 

93.6

 

 

 

105.3

 

 

(11.7) pts.

Average equivalent common shares

 

587.2

 

 

 

584.8

 

 

0%

NM = Not Meaningful


 

August

(thousands; unaudited)

2022

 

2021

 

Change

Policies in Force

 

 

 

 

 

Personal Lines

 

 

 

 

 

Agency – auto

7,606.0

 

8,013.3

 

(5) %

Direct – auto

9,730.3

 

9,638.0

 

1%

Total personal auto

17,336.3

 

17,651.3

 

(2) %

Total special lines

5,548.9

 

5,272.5

 

5%

Total Personal Lines

22,885.2

 

22,923.8

 

0%

Total Commercial Lines

1,036.2

 

942.1

 

10%

Total Property business

2,832.1

 

2,715.6

 

4%

Companywide Total

26,753.5

 

26,581.5

 

1%

 

 

 

 

 

 

See Progressive’s complete monthly earnings release for additional information.

About Progressive

Progressive Insurance® makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. Progressive offers choices so consumers can reach us whenever, wherever and however it's most convenient - online at progressive.com, by phone at 1-800-PROGRESSIVE, on a mobile device or in-person with a local agent.

Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the third largest car insurer in the country, a leading seller of motorcycle and commercial auto insurance, and one of the top 15 homeowners insurance carriers.

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 HomeQuote Explorer®.

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

Company Contact:
Douglas S. Constantine
(440) 395-3707
investor_relations@progressive.com

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

Progressive August 2022 Complete Earnings Release: Download PDF