Progressive Reports May 2018 Results
June 13 2018 - 8:31AM
MAYFIELD VILLAGE, OHIO - June 13, 2018 -- The
Progressive Corporation (NYSE:PGR) today reported the following
results for May 2018:
|
|
|
|
|
|
|
|
(millions, except per share amounts and ratios;
unaudited) |
May |
|
May |
|
Change |
|
2018 |
|
2017 |
|
|
|
|
|
|
|
|
|
Net premiums written |
$ |
2,412.8 |
|
$ |
2,013.2 |
|
20 % |
Net premiums earned |
$ |
2,359.6 |
|
$ |
1,953.8 |
|
21 % |
Net income attributable to Progressive |
$ |
268.6 |
|
$ |
81.4 |
|
230 % |
Per share available to common shareholders |
$ |
0.45 |
|
$ |
0.14 |
|
226 % |
Total pretax net realized gains (losses) on
securities |
$ |
55.7 |
|
$ |
17.2 |
|
224 % |
Combined ratio |
|
90.3 |
|
|
96.4 |
|
(6.1) pts. |
Average diluted equivalent common shares |
|
585.8 |
|
|
583.8 |
|
0 % |
|
|
|
|
|
|
|
|
(thousands; unaudited) |
May |
|
May |
|
|
|
|
|
2018 |
2017 |
Change |
Policies in Force |
|
|
|
|
|
Vehicle
businesses: |
|
|
|
|
|
Agency - auto |
6,054.1 |
|
5,318.2 |
|
14 % |
Direct - auto |
6,564.3 |
|
5,666.7 |
|
16 % |
|
Total personal auto |
12,618.4 |
|
10,984.9 |
|
15 % |
|
Total special lines |
4,357.6 |
|
4,325.8 |
|
1 % |
|
|
Total Personal Lines |
16,976.0 |
|
15,310.7 |
|
11 % |
|
|
Total Commercial Lines |
673.1 |
|
620.8 |
|
8 % |
Property
business |
1,727.8 |
|
1,293.9 |
|
34 % |
|
|
|
|
|
|
|
|
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
American Strategic Insurance Corp. and subsidiaries (ASI), our
majority owned subsidiaries.
Progressive is one of the four largest auto insurers in the
country; a leading seller of motorcycle and commercial auto
insurance; and through ASI, one of the top 20 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 Home
Quote 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
To view the complete release, click the attachment below.
Progressive May 2018 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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