MAYFIELD VILLAGE, OHIO –
January 23, 2019 -- The Progressive Corporation (NYSE:PGR) today reported the
following results for December and the fourth quarter of 2018:
|
|
|
December
|
|
Quarter
|
|
(millions, except
per share amounts and ratios; unaudited)
|
2018
|
|
2017
|
|
Change
|
2018
|
|
2017
|
|
Change
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net premiums
written
|
$
|
2,362.4
|
|
|
$
|
1.972.3
|
|
|
20
|
%
|
$
|
7,941.8
|
|
|
$
|
6,752.6
|
|
|
18
|
%
|
|
Net premiums
earned
|
$
|
2,554.2
|
|
|
$
|
2,144.7
|
|
|
19
|
%
|
$
|
8,194.6
|
|
|
$
|
6,845.9
|
|
|
20
|
%
|
|
Net income
attributable to Progressive
|
$
|
54.0
|
|
|
$
|
261.3
|
|
|
(79)
|
%
|
$
|
264.7
|
|
|
$
|
576.3
|
|
|
(54)
|
%
|
|
Per share
available to common shareholders
|
$
|
0.09
|
|
|
$
|
0.45
|
|
|
(80)
|
%
|
$
|
0.44
|
|
|
$
|
0.98
|
|
|
(55)
|
%
|
|
Total pretax net
realized gains (losses) on securities
|
$
|
(330.8)
|
|
|
$
|
(12.6)
|
|
|
|
NM
|
$
|
(572.2)
|
|
|
$
|
(9.7)
|
|
|
|
NM
|
|
Combined ratio
|
89.5
|
|
90.7
|
|
(1.2) pts.
|
92.5
|
|
91.4
|
|
1.1 pts.
|
|
Average diluted
equivalent common shares
|
586.6
|
|
585.9
|
|
0
|
%
|
586.7
|
|
585.7
|
|
0
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
NM = Not Meaningful
|
(thousands;
unaudited)
|
December
|
|
December
|
|
|
|
|
|
|
2018
|
2017
|
Change
|
|
Policies in Force
|
|
|
|
|
|
|
Vehicle
businesses:
|
|
|
|
|
|
|
Agency – auto
|
6,358.3
|
|
5,670.7
|
|
12 %
|
|
Direct
– auto
|
7,018.5
|
|
6,039.1
|
|
16 %
|
|
|
Total personal auto
|
13,376.8
|
|
11,709.8
|
|
14 %
|
|
|
Total special lines
|
4,382.2
|
|
4,365.7
|
|
0 %
|
|
|
|
Total Personal Lines
|
17,759.0
|
|
16,075.5
|
|
10 %
|
|
|
|
Total Commercial Lines
|
696.9
|
|
646.8
|
|
8 %
|
|
Property
business
|
1,936.5
|
|
1,461.7
|
|
32 %
|
|
|
|
|
|
|
|
|
|
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 American Strategic Insurance Corp. and subsidiaries (ASI),
our majority owned subsidiaries.
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 20 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
The Progressive Corporation
6300 Wilson Mills Road
Mayfield Village, Ohio 44143
http://www.progressive.com