Progressive Reports July 2023 Results
| July | ||||||||
| (millions, except per share amounts and ratios; unaudited) | 2023 | 2022 | Change | |||||
| Net premiums written | 21 | % | ||||||
| Net premiums earned | 20 | % | ||||||
| Net income | (12) | % | ||||||
| Per share available to common shareholders | (13) | % | ||||||
| Total pretax net realized gains (losses) on securities | (71) | % | ||||||
| Combined ratio | 90.6 | 89.8 | 0.8 pts. | |||||
| Average diluted equivalent common shares | 587.5 | 587.2 | 0 | % | ||||
| July | ||||||
| (thousands; unaudited) | 2023 | 2022 | Change | |||
| Policies in Force | ||||||
| Personal Lines | ||||||
| Agency – auto | 8,431.7 | 7,599.7 | 11 | % | ||
| Direct – auto | 11,211.2 | 9,633.2 | 16 | % | ||
| Total personal auto | 19,642.9 | 17,232.9 | 14 | % | ||
| Total special lines | 5,904.0 | 5,525.0 | 7 | % | ||
| Total Personal Lines | 25,546.9 | 22,757.9 | 12 | % | ||
| Total Commercial Lines | 1,105.6 | 1,030.0 | 7 | % | ||
| Total Property business | 2,987.8 | 2,827.5 | 6 | % | ||
| Companywide Total | 29,640.3 | 26,615.4 | 11 | % | ||
See Progressive’s complete monthly earnings release, including the “Monthly Commentary,” for additional information.
About Progressive
Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the second largest 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®, Snapshot®, and HomeQuote Explorer®.
The Common Shares of
Company Contact:
[email protected]
http://www.progressive.com
Download PDF: Progressive
Source:
Best’s Market Segment Report: US Crop Insurance Premiums Reach Record High; Drought Claims Drive Losses
Athene Fixed Income Investor Presentation August 2023
Advisor News
- Your client wants to cash out an annuity. Here’s what to consider
- How student loan debt impacts 401(k) balances
- The ‘sandwich generation’ faces compounded barriers to retirement savings
- Benefit Costs Squeeze Schools, Driving Cuts, Tax Hikes And Difficult Tradeoffs
- Why client insurance needs could change even if their life doesn’t
More Advisor NewsAnnuity News
- AM Best to Discuss Its Views on Private Credit Surge and Risks at 2026 NAIC/NIPR Insurance Summit
- OID recovers $260M in life insurance benefits
- NUNN BILLS TO COMBAT PAYMENT SCAMS, CUT FINANCIAL RED TAPE PASS FINANCIAL SERVICES COMMITTEE
- SS&C Black Diamond Expands Annuities & Insurance Marketplace with New Insurance Capabilities and Carriers
- Regulators urged to sharply limit hypothetical data in annuity illustrations
More Annuity NewsHealth/Employee Benefits News
Life Insurance News