Skip to main content

Market Overview

Progressive Reports September 2020 Results

Share:

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     %   587.8     587.1     %  

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

Primary Logo

View Comments and Join the Discussion!
 
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com