Progressive Reports December 2022 Results
| December | Quarter | |||||||||||||||
| (millions, except per share amounts and ratios; unaudited) | 2022 | 2021 | Change | 2022 | 2021 | Change | ||||||||||
| Net premiums written | $ | 3,574.0 | $ | 3,113.3 | 15 % | $ | 12,460.2 | $ | 10,749.3 | 16 % | ||||||
| Net premiums earned | $ | 4,030.0 | $ | 3,613.2 | 12 % | $ | 12,891.5 | $ | 11,601.4 | 11 % | ||||||
| Net income | $ | 5.8 | $ | 393.3 | (99) % | $ | 826.4 | $ | 962.3 | (14) % | ||||||
| Per share available to common shareholders | $ | 0.01 | $ | 0.67 | (99) % | $ | 1.40 | $ | 1.63 | (14) % | ||||||
| Total pretax net realized gains (losses) on securities | $ | (411.1 | ) | $ | 222.3 | (285) % | $ | (72.8 | ) | $ | 425.3 | (117) % | ||||
| Combined ratio | 93.3 | 94.6 | (1.3) pts. | 93.9 | 94.7 | (0.8) pts. | ||||||||||
| Average diluted equivalent common shares | 587.1 | 586.4 | 0 % | 587.1 | 586.3 | 0 % | ||||||||||
| December | |||||||
| (thousands; unaudited) | 2022 | 2021 | Change | ||||
| Policies in Force | |||||||
| Personal Lines | |||||||
| Agency – auto | 7,766.3 | 7,879.0 | (1 | ) | % | ||
| Direct – auto | 10,131.0 | 9,568.2 | 6 | % | |||
| Total personal auto | 17,897.3 | 17,447.2 | 3 | % | |||
| Total special lines | 5,558.1 | 5,288.5 | 5 | % | |||
| Total Personal Lines | 23,455.4 | 22,735.7 | 3 | % | |||
| Total Commercial Lines | 1,046.4 | 971.2 | 8 | % | |||
| Total Property business | 2,851.3 | 2,776.2 | 3 | % | |||
| Companywide Total | 27,353.1 | 26,483.1 | 3 | % | |||
See Progressive’s complete monthly earnings release for additional information.
About Progressive
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 motorcycle and commercial auto 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®, Snapshot®, and HomeQuote Explorer®.
The Common Shares of
Company Contact:
[email protected]
http://www.progressive.com
Progressive
Source:
Rep. Williams And PRH: Insurers Must Consider Risks In New Landscape
Senator Baldwin Reintroduces Legislation To Lower Health Care Costs & Expand Access To Insurance For Millions More Americans
Advisor News
- What’s behind private equity investment in insurance brokerages
- Advisors get a win as NJ Senate passes independent contractor bill
- Why federal retirement benefits are more complex than advisors realize
- Why timing the market is still a retirement mistake and what to do instead
- Business owners may be overlooking a key part of their financial picture
More Advisor NewsAnnuity News
- Best’s Special Report: U.S. Life/Annuity Industry Sees Bottom-Line Growth Despite 18% Decline in Total Income in First-Quarter 2026
- Globe Life Inc. (NYSE: GL) Records 52-Week High Thursday Morning
- Fortitude Re Completes $500 Million FABN Issuance
- Reframing retirement income for greater certainty
- Jackson Introduces Dow Jones Industrial Average Index Option, Flexible Premiums, Six-Year Rate Guarantee in Latest Registered Index-Linked Annuity Launch
More Annuity NewsHealth/Employee Benefits News
- JasonRhodesnamed to Shelbyville CityCouncil
- Getting disability benefits got harder after the Social Security Administration changes
- Capitol Beat: Scott's veto signatures piling up
- Rising ACA premiums spur pivot to cheaper plans
- California is getting ready to increase a health insurance tax. Will it affect your premium?
More Health/Employee Benefits NewsLife Insurance News
- OVER $107 MILLION IN LIFE INSURANCE BENEFITS LOCATED FOR TENNESSEANS IN 2025 THROUGH NAIC'S LIFE INSURANCE POLICY LOCATOR SERVICE
- Maryland Heights man pleads guilty in murder-for-hire death of his mom
- AM Best Affirms Credit Ratings of Everlake Life Group Members
- Industry experts warn NAIC: Fix flawed IUL illustrations now
- InsuranceAUM.com Celebrates a Historic 5th Annual Insurance Investment Executives’ Meeting in Chicago, Honoring Outstanding Industry Leaders and Spotlighting Next Event in Austin
More Life Insurance News