Progressive Reports October 2020 Results
MAYFIELD VILLAGE, OHIO, Nov. 24, 2020 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for October 2020:
| October | |||||||||||
| (millions, except per share amounts and ratios; unaudited) | 2020 | 2019 | Change | ||||||||
| Net premiums written | $ | 3,795.3 | $ | 3,655.7 | 4 | % | |||||
| Net premiums earned | $ | 3,893.8 | $ | 3,507.2 | 11 | % | |||||
| Net income attributable to Progressive | $ | 238.5 | $ | 304.7 | (22 | ) | % | ||||
| Per share available to common shareholders | $ | 0.40 | $ | 0.52 | (22 | ) | % | ||||
| Total pretax net realized gains (losses) on securities | $ | (40.3 | ) | $ | 93.6 | (143 | ) | % | |||
| Combined ratio | 92.6 | 94.0 | (1.4) pts. | ||||||||
| Average diluted equivalent common shares | 587.7 | 586.9 | 0 | % | |||||||
| October | |||||
| (thousands; unaudited) | 2020 | 2019 | Change | ||
| Policies in Force | |||||
| Personal Lines | |||||
| Agency – auto | 7,583.4 | 6,949.9 | 9% | ||
| Direct – auto | 8,840.1 | 7,774.4 | 14% | ||
| Total personal auto | 16,423.5 | 14,724.3 | 12% | ||
| Total special lines | 4,911.9 | 4,560.8 | 8% | ||
| Total Personal Lines | 21,335.4 | 19,285.1 | 11% | ||
| Total Commercial Lines | 815.4 | 752.9 | 8% | ||
| Property business | 2,443.1 | 2,163.4 | 13% | ||
| Companywide Total | 24,593.9 | 22,201.4 | 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 . 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 October 2020 Complete Earnings Release
