Progressive Reports July 2020 Results
MAYFIELD VILLAGE, OHIO, Aug. 19, 2020 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for July 2020:
| July | ||||||||||
| (millions, except per share amounts and ratios; unaudited) | 2020 | 2019 | Change | |||||||
| Net premiums written | $ | 4,109.3 | $ | 3,675.6 | 12 | % | ||||
| Net premiums earned | $ | 3,781.4 | $ | 3,426.9 | 10 | % | ||||
| Net income attributable to Progressive | $ | 812.0 | $ | 384.9 | 111 | % | ||||
| Per share available to common shareholders | $ | 1.38 | $ | 0.65 | 111 | % | ||||
| Total pretax net realized gains (losses) on securities | $ | 333.4 | $ | 49.0 | NM | |||||
| Combined ratio | 83.5 | 90.3 | (6.8) pts. | |||||||
| Average diluted equivalent common shares | 587.8 | 587.4 | 0 | % | ||||||
| NM=Not meaningful | ||||||||||
| July | ||||||
| (thousands; unaudited) | 2020 | 2019 | Change | |||
| Policies in Force | ||||||
| Personal Lines | ||||||
| Agency – auto | 7,435.4 | 6,832.8 | 9 | % | ||
| Direct – auto | 8,634.4 | 7,599.2 | 14 | % | ||
| Total personal auto | 16,069.8 | 14,432.0 | 11 | % | ||
| Total special lines | 4,854.8 | 4,545.2 | 7 | % | ||
| Total Personal Lines | 20,924.6 | 18,977.2 | 10 | % | ||
| Total Commercial Lines | 785.7 | 740.5 | 6 | % | ||
| Property business | 2,368.3 | 2,095.5 | 13 | % | ||
| Companywide Total | 24,078.6 | 21,813.2 | 10 | % | ||
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 . 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 and , and one of the top 15 .
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
The Progressive Corporation
6300 Wilson Mills Road
Mayfield Village, Ohio 44143
Progressive July 2020 Complete Earnings Release:
