Progressive Reports May 2020 Results
MAYFIELD VILLAGE, OHIO, June 17, 2020 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for May 2020:
| May | ||||||||||
| (millions, except per share amounts and ratios; unaudited) | 2020 | 2019 | Change | |||||||
| Net premiums written | $ | 3,174.2 | $ | 2,662.7 | 19 | % | ||||
| Net premiums earned | $ | 2,991.2 | $ | 2,731.4 | 10 | % | ||||
| Net income attributable to Progressive | $ | 366.9 | $ | 78.5 | 367 | % | ||||
| Per share available to common shareholders | $ | 0.62 | $ | 0.13 | 378 | % | ||||
| Total pretax net realized gains (losses) on securities | $ | 210.6 | $ | (204.3 | ) | (203 | )% | |||
| Combined ratio | 93.7 | 91.6 | 2.1 pts. | |||||||
| Average diluted equivalent common shares | 587.2 | 586.9 | 0 | % | ||||||
| May | ||||||
| (thousands; unaudited) | 2020 | 2019 | Change | |||
| Policies in Force | ||||||
| Personal Lines | ||||||
| Agency – auto | 7,336.7 | 6,732.4 | 9 | % | ||
| Direct – auto | 8,434.4 | 7,467.5 | 13 | % | ||
| Total personal auto | 15,771.1 | 14,199.9 | 11 | % | ||
| Total special lines | 4,715.7 | 4,477.4 | 5 | % | ||
| Total Personal Lines | 20,486.8 | 18,677.3 | 10 | % | ||
| Total Commercial Lines | 776.6 | 728.2 | 7 | % | ||
| Property business | 2,305.9 | 2,047.9 | 13 | % | ||
| Companywide Total | 23,569.3 | 21,453.4 | 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:
Julia Hornack
(440) 395-2164
The Progressive Corporation
6300 Wilson Mills Road
Mayfield Village, Ohio 44143
Progressive May 2020 Complete Earnings Release:
