Progressive Reports February 2017 Results
March 17 2017 - 8:39AM
MAYFIELD VILLAGE, OHIO - March 17, 2017 -- The
Progressive Corporation (NYSE:PGR) today reported the following
results for February 2017:
| |
|
|
|
|
|
|
|
| (millions, except per share amounts and ratios;
unaudited) |
February |
|
February |
|
Change |
| |
2017 |
|
2016 |
|
| |
|
|
|
|
|
|
|
| Net premiums written |
$ |
2,201.3 |
|
$ |
1,933.5 |
|
14 % |
| Net premiums earned |
$ |
1,854.8 |
|
$ |
1,640.1 |
|
13 % |
| Net income attributable to Progressive |
$ |
134.5 |
|
$ |
96.6 |
|
39 % |
| Per share |
$ |
0.23 |
|
$ |
0.17 |
|
40 % |
| Total pretax net realized gains (losses) on
securities |
|
|
|
|
|
|
|
| (including net impairment losses) |
$ |
2.4 |
|
$ |
10.2 |
|
(76) % |
| Combined ratio |
|
90.4 |
|
|
93.4 |
|
(3.0) pts. |
| Average diluted equivalent shares |
|
583.2 |
|
|
585.3 |
|
0 % |
| |
|
|
|
|
|
|
|
| (thousands; unaudited) |
February |
|
February |
|
|
| |
|
|
2017 |
2016 |
Change |
| Policies in Force |
|
|
|
|
|
| Vehicle
businesses: |
|
|
|
|
|
|
Agency - auto |
5,161.2 |
|
4,829.7 |
|
7 % |
|
Direct - auto |
5,493.3 |
|
5,112.3 |
|
7 % |
| |
Total personal auto |
10,654.5 |
|
9,942.0 |
|
7 % |
| |
Total special lines |
4,241.3 |
|
4,120.9 |
|
3 % |
| |
|
Total Personal Lines |
14,895.8 |
|
14,062.9 |
|
6 % |
| |
|
Total Commercial Lines |
605.1 |
|
567.1 |
|
7 % |
| Property
business |
1,252.7 |
|
1,077.4 |
|
16 % |
| |
|
|
|
|
|
|
|
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 http://www.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
American Strategic Insurance Corp. and subsidiaries (ASI), our
majority owned subsidiaries.
Progressive is the fourth largest auto insurer in the country; a
leading seller of motorcycle and commercial auto insurance; and
through ASI, one of the top 20 homeowners carriers. 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:
Julia Hornack
(440) 395-2164
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 February 2017 Complete
Earnings Release
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq 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
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