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Home > Insurance Companies > Insurance News > Progressive Reports September 2020 Results

Progressive Reports September 2020 Results

Posted on: October 13, 2020 By: Insurance Updates

MAYFIELD VILLAGE, OHIO, Oct. 14, 2020 (GLOBE NEWSWIRE) — The Progressive Corporation (NYSE:PGR) today reported the following results for September 2020 and the third quarter of 2020:

September Quarter
(millions, except per share amounts and ratios; unaudited)

2020 2019 Change 2020 2019 Change
Net premiums written $ 3,468.1 $ 3,024.3 15 % $ 11,015.1 $ 9,621.2 14 %
Net premiums earned $ 3,103.2 $ 2,800.9 11 % $ 9,973.5 $ 9,012.2 11 %
Net income attributable to Progressive $ 231.4 $ 280.9 (18) % $ 1,530.8 $ 841.7 82 %
Per share available to common shareholders $ 0.39 $ 0.47 (18) % $ 2.59 $ 1.42 82 %
Total pretax net realized gains (losses) on securities $ (131.7 ) $ 50.1 (363) % $ 532.6 $ 65.4 NM
Combined ratio 88.3 92.3 (4.0) pts. 87.8 91.9 (4.1) pts.
Average diluted equivalent common shares 587.8 587.0 0 % 587.8 587.1 0 %

NM=Not meaningful

September
(thousands; unaudited)

2020 2019 Change
Policies in Force
Personal Lines
Agency – auto 7,527.1 6,903.8 9 %
Direct – auto 8,774.3 7,716.0 14 %
Total personal auto 16,301.4 14,619.8 12 %
Total special lines 4,905.8 4,567.6 7 %
Total Personal Lines 21,207.2 19,187.4 11 %
Total Commercial Lines 803.9 748.7 7 %
Property business 2,421.0 2,144.3 13 %
Companywide Total 24,432.1 22,080.4 11 %

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:

Douglas S. Constantine

(440) 910-3563

investor_relations@progressive.com

The Progressive Corporation

6300 Wilson Mills Road

Mayfield Village, Ohio 44143

http://www.progressive.com

Progressive September 2020 Complete Earnings Release: http://ml.globenewswire.com/Resource/Download/aba592ac-8bb1-4342-9954-ffb658a8fa60

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