Progressive Reports February 2024 ResultsGlobeNewswireMarch 15, 2024MAYFIELD VILLAGE, OHIO, March 15, 2024 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month ended February 29, 2024:
February(millions, except per share amounts and ratios; unaudited)2024Net premiums written$5,720.5Net premiums earned$5,129.1Net income$737.1Per share available to common shareholders$1.24Total pretax net realized gains (losses) on securities$80.7Combined ratio - current year86.8 - prior year95.1Average diluted equivalent common shares587.3In October 2023, we converted our monthly accounting closing calendar to align with the Gregorian calendar. We do not expect that this change will have a material impact on our reported quarterly and annual underwriting results but it may impact our year-over-year comparisons on monthly results from October 2023 through September 2024. Therefore, during this time period, we have modified and limited the content of the earnings release, compared to our historical reporting. Click here for further discussion on the closing calendar conversion in the October 2023 release, issued November 17, 2023.
February(thousands; unaudited)20242023% ChangePolicies in ForcePersonal LinesAgency - auto8,461.98,039.75Direct - auto11,541.310,737.37Total personal auto20,003.218,777.07Total special lines6,018.95,603.47Total Personal Lines26,022.124,380.47Total Commercial Lines1,097.71,060.24Total Property business3,163.62,885.410Companywide Total30,283.428,326.07See Progressive's complete monthly earnings release, including the "Monthly Commentary," for additional information.
About Progressive
Progressive Insurance(R) makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. Progressive offers choices so consumers can reach us however it's most convenient for them -- online at progressive.com, by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, 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 second largest personal auto insurer in the country, a leading seller of commercial auto, motorcycle, and boat insurance, and one of the top 15 homeowners insurance carriers.
Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price(R), Snapshot(R), and HomeQuote Explorer(R).
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) 395-3707investor_relations@progressive.comThe Progressive Corporation 6300 Wilson Mills Road Mayfield Village, Ohio 44143http://www.progressive.com
Download PDF: Progressive February 2024 Complete Earnings Release
COMTEX_449303027/2010/2024-03-15T08:18:31
MAYFIELD VILLAGE, OHIO, March 15, 2024 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month ended February 29, 2024:
February(millions, except per share amounts and ratios; unaudited)2024Net premiums written$5,720.5Net premiums earned$5,129.1Net income$737.1Per share available to common shareholders$1.24Total pretax net realized gains (losses) on securities$80.7Combined ratio - current year86.8 - prior year95.1Average diluted equivalent common shares587.3In October 2023, we converted our monthly accounting closing calendar to align with the Gregorian calendar. We do not expect that this change will have a material impact on our reported quarterly and annual underwriting results but it may impact our year-over-year comparisons on monthly results from October 2023 through September 2024. Therefore, during this time period, we have modified and limited the content of the earnings release, compared to our historical reporting. Click here for further discussion on the closing calendar conversion in the October 2023 release, issued November 17, 2023.
February(thousands; unaudited)20242023% ChangePolicies in ForcePersonal LinesAgency - auto8,461.98,039.75Direct - auto11,541.310,737.37Total personal auto20,003.218,777.07Total special lines6,018.95,603.47Total Personal Lines26,022.124,380.47Total Commercial Lines1,097.71,060.24Total Property business3,163.62,885.410Companywide Total30,283.428,326.07See Progressive's complete monthly earnings release, including the "Monthly Commentary," for additional information.
About Progressive
Progressive Insurance(R) makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. Progressive offers choices so consumers can reach us however it's most convenient for them -- online at progressive.com, by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, 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 second largest personal auto insurer in the country, a leading seller of commercial auto, motorcycle, and boat insurance, and one of the top 15 homeowners insurance carriers.
Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price(R), Snapshot(R), and HomeQuote Explorer(R).
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) 395-3707investor_relations@progressive.comThe Progressive Corporation 6300 Wilson Mills Road Mayfield Village, Ohio 44143http://www.progressive.com
Download PDF: Progressive February 2024 Complete Earnings Release
COMTEX_449303027/2010/2024-03-15T08:18:31
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