Progressive Reports February 2023 Results
March 15 2023 - 08:54AM
GlobeNewswire Inc.
The Progressive Corporation (NYSE:PGR) today reported the following
results for February 2023:
|
|
February |
|
(millions, except per share amounts and ratios; unaudited) |
|
2023 |
|
|
|
2022 |
|
|
Change |
|
Net premiums written |
$ |
6,057.8 |
|
|
$ |
4,625.7 |
|
|
31 % |
| Net
premiums earned |
$ |
4,166.6 |
|
|
$ |
3,626.1 |
|
|
15 % |
| Net
income |
$ |
150.3 |
|
|
$ |
61.6 |
|
|
144 % |
|
Per share available to common shareholders |
$ |
0.25 |
|
|
$ |
0.10 |
|
|
149 % |
| Total
pretax net realized gains (losses) on securities |
$ |
(117.1 |
) |
|
$ |
(209.4 |
) |
|
(44)% |
| Combined
ratio |
|
95.1 |
|
|
|
93.7 |
|
|
1.4 pts. |
|
Average diluted equivalent common shares |
|
587.0 |
|
|
|
586.3 |
|
|
0 % |
|
|
February |
|
(thousands; unaudited) |
2023 |
|
2022 |
|
Change |
|
Policies in Force |
|
|
|
|
|
| Personal
Lines |
|
|
|
|
|
|
Agency – auto |
8,039.7 |
|
7,805.6 |
|
3 % |
|
Direct – auto |
10,737.3 |
|
9,558.8 |
|
12 % |
|
Total personal auto |
18,777.0 |
|
17,364.4 |
|
8 % |
|
Total special lines |
5,603.4 |
|
5,318.0 |
|
5 % |
| Total
Personal Lines |
24,380.4 |
|
22,682.4 |
|
7 % |
| Total
Commercial Lines |
1,060.2 |
|
989.2 |
|
7 % |
| Total
Property business |
2,885.4 |
|
2,790.3 |
|
3 % |
|
Companywide Total |
28,326.0 |
|
26,461.9 |
|
7 % |
|
|
|
|
|
|
|
See Progressive’s complete monthly earnings release, including
the “Monthly Commentary,” 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 however it's most convenient for them — online at
progressive.com, by phone at 1-800-PROGRESSIVE, via the
Progressive mobile app, 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 one of the leading sellers of personal and commercial auto,
motorcycle, and boat insurance in the country, 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)
395-3707investor_relations@progressive.com
The Progressive Corporation 6300 Wilson Mills Road Mayfield
Village, Ohio 44143http://www.progressive.com
Progressive February 2023 Complete Earnings
Release: Download PDF
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