Market Overview

Progressive Reports August 2020 Results

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MAYFIELD VILLAGE, OHIO, Sept. 17, 2020 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for August 2020: 

      August    
  2020   2019   Change
(millions, except per share amounts and ratios; unaudited)          
Net premiums written $ 3,437.7     $ 2,921.3     18 %
Net premiums earned $ 3,088.9     $ 2,784.4     11 %
Net income attributable to Progressive $ 487.4     $ 175.9     177 %
Per share available to common shareholders $ 0.83     $ 0.30     179 %
Total pretax net realized gains (losses) on securities $ 330.9     $ (33.7 )   NM  
Combined ratio   92.6       93.4     (0.8)  pts
Average diluted equivalent common shares   587.7       587.0     0 %
NM=Not meaningful

 

      August    
(thousands; unaudited) 2020   2019   Change
Policies in Force          
Personal Lines          
Agency – auto 7,487.0   6,862.4   9 %
Direct – auto 8,714.3   7,641.9   14 %
Total personal auto 16,201.3   14,504.3   12 %
Total special lines 4,891.1   4,562.6   7 %
Total Personal Lines 21,092.4   19,066.9   11 %
Total Commercial Lines 795.4   744.6   7 %
Property business 2,395.4   2,124.4   13 %
Companywide Total 24,283.2   21,935.9   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 August 2020 Complete Earnings Release: http://ml.globenewswire.com/Resource/Download/7e7790cb-6b95-4566-ab7d-a55053db50a0

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