Progressive Reports January 2015 Results

Financial Release

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February 18, 2015 at 8:42 AM EST
Progressive Reports January 2015 Results

 

MAYFIELD VILLAGE, OHIO - February 18, 2015 -- The Progressive Corporation (NYSE:PGR) today reported the following results for January 2015:

                 
  (millions, except per share amounts and ratios; unaudited) January   January   Change
    2015   2014  
                 
  Net premiums written $ 1,773.6   $ 1,578.4   12 %
  Net premiums earned $ 1,770.0   $ 1,674.5   6 %
  Net income $ 89.4   $ 155.8   (43) %
    Per share $ 0.15   $ 0.26   (42) %
  Total pretax net realized gains (losses) on securities              
    (including net impairment losses) $ (7.2)   $ 75.1   (110) %
  Combined ratio   93.1     91.7   1.4 pts.
  Average diluted equivalent shares   591.4     598.7   (1) %
                 
                 

  (thousands; unaudited) January   January    
        2015 2014 Change
  Policies in Force          
   Agency - auto 4,726.9   4,838.4   (2) %
   Direct - auto 4,551.4   4,253.3   7 %
    Total personal auto 9,278.3   9,091.7   2 %
    Total special lines 4,027.1   3,977.8   1 %
      Total Personal Lines 13,305.4   13,069.5   2 %
      Total Commercial Lines 515.8   510.1   1 %
                 

Progressive is scheduled to hold a one-hour conference call to address questions on Wednesday, March 4, 2015, at 9:00 a.m., eastern time, subsequent to the posting of our 2014 Shareholders' Report online and the filing of our 2014 Annual Report on Form 10-K with the SEC. Registration for the teleconference and webcast is available at
http://investors.progressive.com/phoenix.zhtml?c=81824&p=irol-calendar.

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 it 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 offers insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes. It's the fourth largest auto insurer in the country, the largest seller of motorcycle insurance, and a leader in commercial auto insurance. Progressive also offers car insurance online in Australia at http://www.progressiveonline.com.au.

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:
Matt Downing/Julia Hornack
(440) 395-4222/(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.


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