Progressive Reports September 2021 Results
MAYFIELD VILLAGE, OHIO, Oct. 14, 2021 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for September 2021 and the third quarter of 2021:
| September | Quarter | ||||||||||||||||||||
| (millions, except per share amounts and ratios; unaudited) | 2021 | 2020 | Change | 2021 | 2020 | Change | |||||||||||||||
| Net premiums written | $ | 4,004.0 | $ | 3,468.1 | 15 | % | $ | 12,446.5 | $ | 11,015.1 | 13 | % | |||||||||
| Net premiums earned | $ | 3,537.5 | $ | 3,103.2 | 14 | % | $ | 11,364.8 | $ | 9,973.5 | 14 | % | |||||||||
| Net income (loss) | $ | (130.3 | ) | $ | 231.4 | (156 | ) | % | $ | 118.5 | $ | 1,530.8 | (92 | ) | % | ||||||
| Per share available to common shareholders | $ | (0.23 | ) | $ | 0.39 | (158 | ) | % | $ | 0.19 | $ | 2.59 | (93 | ) | % | ||||||
| Total pretax net realized gains (losses) on securities | $ | (217.4 | ) | $ | (131.7 | ) | 65 | % | $ | 36.8 | $ | 532.6 | (93 | ) | % | ||||||
| Combined ratio | 100.1 | 88.3 | 11.8 pts. | 100.4 | 87.8 | 12.6 pts. | |||||||||||||||
| Average equivalent common shares | 584.7 | 587.8 | (1 | ) | % | 587.1 | 587.8 | 0 | % | ||||||||||||
| September | |||||
| (thousands; unaudited) | 2021 | 2020 | Change | ||
| Policies in Force | |||||
| Personal Lines | |||||
| Agency – auto | 7,973.6 | 7,527.1 | 6 % | ||
| Direct – auto | 9,613.1 | 8,774.3 | 10 % | ||
| Total personal auto | 17,586.7 | 16,301.4 | 8 % | ||
| Total special lines | 5,282.4 | 4,905.8 | 8 % | ||
| Total Personal Lines | 22,869.1 | 21,207.2 | 8 % | ||
| Total Commercial Lines | 952.7 | 803.9 | 19 % | ||
| Total Property business | 2,735.0 | 2,421.0 | 13 % | ||
| Companywide Total | 26,556.8 | 24,432.1 | 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:
Douglas S. Constantine
(440) 910-3563
The Progressive Corporation
6300 Wilson Mills Road
Mayfield Village, Ohio 44143
Progressive September 2021 Complete Earnings Release:
