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
- House panel votes to raise certain taxes, transfer money to offset Medicaid shortfall
- Iowa House backs temporary tax hike to fill Medicaid gap
- Iowa Medicaid temporary tax plan draws sharp public opposition
- Charitable giving planning can strengthen advisor/client relationships
- New $6K deduction could provide tax planning window for retirees
More Advisor NewsAnnuity News
- We can help find a loved one’s life insurance policy
- 2025: A record-breaking year for annuity sales via banks and BDs
- Lincoln Financial launches two new FIAs
- Great-West Life & Annuity Insurance Company trademark request filed
- The forces shaping life and annuities in 2026
More Annuity NewsHealth/Employee Benefits News
- Minnesota Blue Cross CEO steps down from Sutter Health board over conflict of interest
- 'No-cost" Lantern surgical benefit has modest early use from SHP members
- House panel votes to raise certain taxes, transfer money to offset Medicaid shortfall
- ACA TURNS 16 AS MEGABILL'S ANTI-IMMIGRANT STANCE SETS PATH TO END COVERAGE GAINS AMONG PEOPLE WITH LAWFUL IMMIGRATION STATUS
- WARNER, SENATE DEMOCRATS UNVEIL PLANS TO LOWER HEALTH COSTS AMID TRUMP'S BROKEN PROMISES TO AMERICANS
More Health/Employee Benefits NewsLife Insurance News
- Murray Giles Hulse
- New individual life premium hits record-setting $17.5B in 2025
- Maryland orders Cigna to halt underpaying doctors or give cause
- Insurers optimistic about their investments in 2026
- AM Best Affirms Credit Ratings of PVI Insurance Corporation
More Life Insurance News