Financial Release

Printer Friendly Version View printer-friendly version
<< Back
Progressive Reports March 2017 Results

MAYFIELD VILLAGE, OHIO - April 18, 2017 -- The Progressive Corporation (NYSE:PGR) today reported the following results for March and the first quarter of 2017:

    March     First Quarter
(millions, except per share amounts and ratios; unaudited) 2017   2016   Change 2017   2016   Change
                             
Net premiums written $ 2,047.8     $ 1,859.1     10 % $ 6,491.0     $ 5,818.4     12 %
Net premiums earned $ 1,892.8     $ 1,676.2     13 % $ 6,026.7     $ 5,317.4     13 %
Net income attributable to Progressive $ 107.7     $ 60.8     77 % $ 424.3     $ 258.2     64 %
Per share $ 0.18     $ 0.10     78 % $ 0.73     $ 0.44     65 %
Total pretax net realized gains (losses) on                            
securities (including net impairment losses) $  40.1     $ 13.4     199 % $ 51.9     $ 17.4     198 %
Combined ratio 95.4   97.6     (2.2) pts. 91.7     94.6        (2.9) pts.
Average diluted equivalent shares 583.5   585.0   0 % 583.3     585.5     0  %
                             

(thousands; unaudited) March   March    
      2017 2016 Change
Policies in Force           
Vehicle businesses:          
 Agency - auto 5,228.3   4,865.4   7 %
 Direct - auto 5,570.7   5,175.4   8 %
   Total personal auto 10,799.0   10,040.8   8 %
   Total special lines 4,255.4   4,145.0   3 %
     Total Personal Lines 15,054.4   14,185.8   6 %
     Total Commercial Lines 607.5   575.1   6 %
Property business 1,265.3   1,078.5   17 %
               


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.

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.


Stay in touch