• Progressive Reports February 2020 Results

    Source: Nasdaq GlobeNewswire / 17 Mar 2020 13:02:40   Europe/London

    MAYFIELD VILLAGE, OHIO, March 17, 2020 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for February 2020:  

     

       February  
    (millions, except per share amounts and ratios; unaudited)2020 2019 Change
         
    Net premiums written$3,404.2  $3,107.0  10 %
    Net premiums earned$2,915.1  $2,601.3  12 %
    Net income attributable to Progressive$67.1  $327.6  (80) %
    Per share available to common shareholders$0.11  $0.55  (80) %
    Total pretax net realized gains (losses) on securities$(257.0) $109.9  (334) %
    Combined ratio90.3 90.9 (0.6) pts.
    Average diluted equivalent common shares586.9 586.6 0 %

     

       February  
    (thousands; unaudited) 2020 2019 Change
    Policies in Force     
    Personal Lines     
    Agency – auto7,148.1 6,497.4 10%
    Direct – auto8,095.1 7,189.9 13%
    Total personal auto15,243.2 13,687.3 11%
    Total special lines4,570.7 4,380.7 4%
    Total Personal Lines19,813.9 18,068.0 10%
    Total Commercial Lines764.0 703.8 9%
    Property business2,243.7 1,978.1 13%
    Companywide Total22,821.6 20,749.9 10%
          

    See Progressive's complete monthly earnings release, including the "Monthly Commentary," for additional information.

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

    Progressive February 2020 Complete Earnings Release: http://ml.globenewswire.com/Resource/Download/38e67ae3-ec5c-4d1f-a648-3f4536000f5a

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