Download PDF: Progressive May 2024 Complete Earnings Release
MAYFIELD VILLAGE, OHIO, June 14, 2024 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the
following results for the month ended May 31, 2024:
|
|
May |
|
(millions, except per share amounts and ratios; unaudited) |
2024 |
|
Net premiums written |
$ |
5,975.1 |
| Net premiums earned |
$ |
5,857.5 |
| Net income |
$ |
235.7 |
|
Per share available to common shareholders |
$ |
0.40 |
| Total pretax net realized gains
(losses) on securities |
$ |
117.6 |
| Combined ratio – current year |
|
100.4 |
|
– prior year month |
|
99.0 |
|
Average diluted equivalent common shares |
|
587.4 |
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.
|
|
May 31, |
(thousands; unaudited)
|
2024 |
|
2023 |
|
% Change |
| Policies in
Force |
|
|
|
|
|
| Personal Lines
|
|
|
|
|
|
|
Agency – auto |
8,869.4 |
|
8,423.2 |
|
5 |
|
Direct – auto |
12,382.7 |
|
11,243.3 |
|
10 |
|
Total personal auto |
21,252.1 |
|
19,666.5 |
|
8 |
|
Total special lines |
6,247.4 |
|
5,787.0 |
|
8 |
| Total Personal
Lines |
27,499.5 |
|
25,453.5 |
|
8 |
| Total Commercial Lines |
1,114.1 |
|
1,095.3 |
|
2 |
| Total Property business |
3,305.2 |
|
2,957.5 |
|
12 |
| Companywide
Total |
31,918.8 |
|
29,506.3 |
|
8 |
|
|
|
|
|
|
|
See Progressive’s complete monthly earnings release, including the "Monthly Commentary," 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 personal 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 Casualty Insurance Company