Download PDF: Progressive January 2024 Complete Earnings Release
MAYFIELD VILLAGE, OHIO, Feb. 14, 2024 (GLOBE NEWSWIRE) -- The Progressive
Corporation (NYSE:PGR) today reported the following results for the month
ended January 31, 2024:
|
|
January
|
|
(millions, except per share amounts and ratios; unaudited)
|
2024
|
|
Net premiums written
|
$
|
5,495.7
|
|
Net premiums earned
|
$
|
5,386.0
|
|
Net income
|
$
|
700.7
|
|
Per share available to common shareholders
|
$
|
1.18
|
|
Total pretax net realized gains (losses) on securities
|
$
|
16.6
|
|
Combined ratio – current year
|
|
87.3
|
|
–
prior year
|
|
96.0
|
|
Average diluted equivalent common shares
|
|
587.3
|
In October 2023, we converted our monthly accounting closing calendar to align
with the Gregorian calendar. We do not expect that this change will have a
material impact on our reported quarterly and annual underwriting results but
it may impact our year-over-year comparisons on monthly results from October
2023 through September 2024. Therefore, during this time period, we have
modified and limited the content of the earnings release, compared to our
historical reporting. Click
here
for further discussion on the closing calendar conversion in the October 2023
release, issued November 17, 2023.
|
|
January 31,
|
(thousands; unaudited)
|
2024
|
|
2023
|
|
% Change
|
|
Policies in Force
|
|
|
|
|
|
|
Personal Lines
|
|
|
|
|
|
|
Agency – auto
|
8,393.3
|
|
7,902.2
|
|
6
|
|
Direct – auto
|
11,350.0
|
|
10,430.6
|
|
9
|
|
Total personal auto
|
19,743.3
|
|
18,332.8
|
|
8
|
|
Total special lines
|
5,984.4
|
|
5,572.9
|
|
7
|
|
Total Personal Lines
|
25,727.7
|
|
23,905.7
|
|
8
|
|
Total Commercial Lines
|
1,095.8
|
|
1,053.3
|
|
4
|
|
Total Property business
|
3,127.9
|
|
2,865.0
|
|
9
|
|
Companywide Total
|
29,951.4
|
|
27,824.0
|
|
8
|
|
|
|
|
|
|
|
See Progressive’s complete monthly earnings release 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 the
second largest auto insurer in the country, a leading seller of
commercial
auto, motorcycle, and
boat
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:
Douglas S. Constantine
(440) 395-3707
investor_relations@progressive.com
The Progressive Corporation
6300 Wilson Mills Road
Mayfield Village, Ohio 44143
http://www.progressive.com
Source: Progressive Corporation