Progressive Reports April 2020 Results
MAYFIELD VILLAGE, OHIO, May 20, 2020 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for April 2020:
| April | |||||||
| (millions, except per share amounts and ratios; unaudited) | 2020 | 2019 | Change | ||||
| Net premiums written | $ | 3,764.2 | $ | 3,669.8 | 3% | ||
| Net premiums earned | $ | 3,634.3 | $ | 3,348.3 | 9% | ||
| Net income attributable to Progressive | $ | 952.6 | $ | 487.8 | 95% | ||
| Per share available to common shareholders | $ | 1.62 | $ | 0.83 | 96% | ||
| Total pretax net realized gains (losses) on securities | $ | 537.3 | $ | 131.6 | 308% | ||
| Combined ratio | 83.4 | 87.4 | (4.0) pts. | ||||
| Average diluted equivalent common shares | 587.2 | 586.7 | 0% | ||||
| April | |||||||
| (thousands; unaudited) | 2020 | 2019 | Change | ||||
| Policies in Force | |||||||
| Personal Lines | |||||||
| Agency – auto | 7,237.1 | 6,687.2 | 8% | ||||
| Direct – auto | 8,269.2 | 7,427.8 | 11% | ||||
| Total personal auto | 15,506.3 | 14,115.0 | 10% | ||||
| Total special lines | 4,618.1 | 4,444.2 | 4% | ||||
| Total Personal Lines | 20,124.4 | 18,559.2 | 8% | ||||
| Total Commercial Lines | 764.6 | 721.7 | 6% | ||||
| Property business | 2,282.7 | 2,024.8 | 13% | ||||
| Companywide Total | 23,171.7 | 21,305.7 | 9% | ||||
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:
Julia Hornack
(440) 395-2164
The Progressive Corporation
6300 Wilson Mills Road
Mayfield Village, Ohio 44143
Progressive April 2020 Complete Earnings Release:
