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Progressive Reports May 2020 Results

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Jun 17, 2020

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Progressive May 2020 Complete Earnings Release: Download PDF

 

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

      May    
(millions, except per share amounts and ratios; unaudited) 2020   2019   Change
         
Net premiums written $ 3,174.2     $ 2,662.7     19 %
Net premiums earned $ 2,991.2     $ 2,731.4     10 %
Net income attributable to Progressive $ 366.9     $ 78.5     367 %
  Per share available to common shareholders $ 0.62     $ 0.13     378 %
Total pretax net realized gains (losses) on securities $ 210.6     $ (204.3 )   (203 )%
Combined ratio 93.7   91.6   2.1 pts.
Average diluted equivalent common shares 587.2   586.9   0 %

 

      May    
(thousands; unaudited)

 
2020   2019   Change
Policies in Force          
Personal Lines          
Agency – auto 7,336.7   6,732.4   9  %
Direct – auto 8,434.4   7,467.5   13  %
Total personal auto 15,771.1   14,199.9   11  %
Total special lines 4,715.7   4,477.4   5  %
Total Personal Lines 20,486.8   18,677.3   10  %
Total Commercial Lines 776.6   728.2   7  %
Property business 2,305.9   2,047.9   13  %
Companywide Total 23,569.3   21,453.4   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; it is the third largest auto insurer in the country, a leading seller of motorcycle and commercial auto insurance, 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: 
Julia Hornack 
(440) 395-2164 
investor_relations@progressive.com
 
The Progressive Corporation 
6300 Wilson Mills Road 
Mayfield Village, Ohio  44143
http://www.progressive.com

Source: Progressive Corporation

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