U.S. Markets open in 4 hrs 26 mins

Progressive Reports September 2019 Results

MAYFIELD VILLAGE, OHIO, Oct. 16, 2019 (GLOBE NEWSWIRE) -- The Progressive Corporation (PGR) today reported the following results for September 2019 and the third quarter of 2019:  

  September Quarter
(millions, except per share amounts and ratios; unaudited) 2019   2018   Change 2019   2018   Change
                   
Net premiums written $ 3,024.3     $ 2,726.9     11 % $ 9,621.2     $ 8,604.0     12 %
Net premiums earned $ 2,800.9     $ 2,476.1     13 % $ 9,012.2     $ 7,930.5     14 %
Net income attributable to Progressive $ 280.9     $ 250.0     12 % $ 841.7     $ 928.4     (9 )%
  Per share available to common shareholders $ 0.47     $ 0.42     12 % $ 1.42     $ 1.57     (9 )%
Total pretax net realized gains (losses) on securities $ 50.1     $ (1.3 )   NM   $ 65.4     $ 182.1     (64 )%
Combined ratio   92.3       90.1     2.2 pts     91.9       90.3     1.6 pts  
Average diluted equivalent common shares   587.0       586.6     0 %   587.1       586.6     0 %
NM = Not Meaningful
 


(thousands; unaudited) September   September    
  2019   2018   Change
Policies in Force          
Personal Lines          
Agency – auto 6,903.8   6,249.3   10 %
Direct – auto 7,716.0   6,875.8   12 %
Total personal auto 14,619.8   13,125.1   11 %
Total special lines 4,567.6   4,418.9   3 %
Total Personal Lines 19,187.4   17,544.0   9 %
Total Commercial Lines 748.7   691.9   8 %
Property business 2,144.3   1,867.0   15 %
Companywide Total 22,080.4   20,102.9   10 %
           

 

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 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. Home insurance is underwritten by select carriers, including our majority owned subsidiaries, American Strategic Insurance Corp. and its affiliates (ASI).

Progressive is the third largest auto insurer in the country; a leading seller of motorcycle and commercial auto insurance; and through ASI, 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: 
Julia Hornack 
(440) 395-2164 

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

Progressive September 2019 Complete Earnings Release: http://ml.globenewswire.com/Resource/Download/72405442-8c88-4759-a9a6-0e6bd85eed17