Progressive Reports June 2020 Results
MAYFIELD VILLAGE, OHIO, July 15, 2020 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for June 2020 and the second quarter of 2020:
| June | Quarter | ||||||||||||||||||||
| (millions, except per share amounts and ratios; unaudited) | 2020 | 2019 | Change | 2020 | 2019 | Change | |||||||||||||||
| Net premiums written | $ | 3,201.6 | $ | 2,794.0 | 15 | % | $ | 10,140.0 | $ | 9,126.5 | 11 | % | |||||||||
| Net premiums earned | $ | 3,023.1 | $ | 2,745.0 | 10 | % | $ | 9,648.6 | $ | 8,824.7 | 9 | % | |||||||||
| Net income attributable to Progressive | $ | 470.9 | $ | 413.1 | 14 | % | $ | 1,790.4 | $ | 979.4 | 83 | % | |||||||||
| Per share available to common shareholders | $ | 0.80 | $ | 0.70 | 14 | % | $ | 3.04 | $ | 1.66 | 83 | % | |||||||||
| Total pretax net realized gains (losses) on securities | $ | 142.9 | $ | 252.6 | (43 | ) | % | $ | 890.8 | $ | 179.9 | 395 | % | ||||||||
| Combined ratio | 86.9 | 92.7 | (5.8 | ) | pts. | 87.7 | 90.4 | (2.7) | pts. | ||||||||||||
| Average diluted equivalent common shares | 587.3 | 587.0 | 0 | % | 587.2 | 586.9 | 0 | % | |||||||||||||
| June | |||||
| (thousands; unaudited) | 2020 | 2019 | Change | ||
| Policies in Force | |||||
| Personal Lines | |||||
| Agency – auto | 7,362.5 | 6,783.7 | 9% | ||
| Direct – auto | 8,507.6 | 7,528.4 | 13% | ||
| Total personal auto | 15,870.1 | 14,312.1 | 11% | ||
| Total special lines | 4,790.5 | 4,510.2 | 6% | ||
| Total Personal Lines | 20,660.6 | 18,822.3 | 10% | ||
| Total Commercial Lines | 775.8 | 734.2 | 6% | ||
| Property business | 2,336.1 | 2,071.6 | 13% | ||
| Companywide Total | 23,772.5 | 21,628.1 | 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.
The Progressive Corporation
6300 Wilson Mills Road
Mayfield Village, Ohio 44143
Company Contact:
Douglas S. Constantine
(440) 910-3563
Progressive June 2020 Complete Earnings Release:
