Progressive Reports May 2014 Results
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
