Progressive Reports March 2023 Results
April 13 2023 - 08:21AM
GlobeNewswire Inc.
The Progressive Corporation (NYSE:PGR) today reported the following
results for March 2023 and the first quarter of 2023:
|
|
March |
Quarter |
|
(millions, except per share amounts and ratios; unaudited) |
2023 |
|
2022 |
|
Change |
2023 |
|
2022 |
|
Change |
|
Net premiums written |
$ |
4,719.8 |
|
|
$ |
3,970.1 |
|
|
19 |
|
% |
$ |
16,109.7 |
|
|
$ |
13,181.0 |
|
|
22 |
|
% |
| Net
premiums earned |
$ |
4,323.8 |
|
|
$ |
3,702.0 |
|
|
17 |
|
% |
$ |
13,533.1 |
|
|
$ |
11,802.9 |
|
|
15 |
|
% |
| Net
income (loss) |
$ |
(151.8 |
) |
|
$ |
226.5 |
|
|
(167 |
) |
% |
$ |
447.9 |
|
|
$ |
313.9 |
|
|
43 |
|
% |
|
Per share available to common shareholders |
$ |
(0.26 |
) |
|
$ |
0.38 |
|
|
(169 |
) |
% |
$ |
0.75 |
|
|
$ |
0.52 |
|
|
43 |
|
% |
| Total
pretax net realized gains (losses) on securities |
$ |
(56.7 |
) |
|
$ |
112.0 |
|
|
(151 |
) |
% |
$ |
71.8 |
|
|
$ |
(445.3 |
) |
|
(116 |
) |
% |
| Combined
ratio |
|
106.2 |
|
|
|
97.2 |
|
|
9.0 pts. |
|
99.0 |
|
|
|
94.5 |
|
|
4.5 pts. |
|
Average equivalent common shares |
|
584.9 |
|
|
|
586.3 |
|
|
0 |
|
% |
|
587.0 |
|
|
|
586.3 |
|
|
0 |
|
% |
|
|
March |
|
(thousands; unaudited) |
2023 |
|
2022 |
|
Change |
|
Policies in Force |
|
|
|
|
|
|
|
|
|
Personal Lines |
|
|
|
|
|
|
|
|
|
Agency – auto |
8,172.9 |
|
|
7,758.4 |
|
|
5 |
% |
|
Direct – auto |
10,995.5 |
|
|
9,541.3 |
|
|
15 |
% |
|
Total personal auto |
19,168.4 |
|
|
17,299.7 |
|
|
11 |
% |
|
Total special lines |
5,637.3 |
|
|
5,345.9 |
|
|
5 |
% |
|
Total Personal Lines |
24,805.7 |
|
|
22,645.6 |
|
|
10 |
% |
|
Total Commercial Lines |
1,071.2 |
|
|
999.8 |
|
|
7 |
% |
|
Total Property business |
2,912.6 |
|
|
2,802.2 |
|
|
4 |
% |
|
Companywide Total |
28,789.5 |
|
|
26,447.6 |
|
|
9 |
% |
|
|
|
|
|
|
|
|
|
|
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 March 2023 Complete Earnings Release: Download
PDF
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