Progressive Reports September 2022 Results
| September | Quarter | ||||||||||||||||
| (millions, except per share amounts and ratios; unaudited) | 2022 | 2021 | Change | 2022 | 2021 | Change | |||||||||||
| Net premiums written | $ | 4,007.3 | $ | 4,004.0 | 0 % | $ | 13,017.8 | $ | 12,446.5 | 5 % | |||||||
| Net premiums earned | $ | 3,869.5 | $ | 3,537.5 | 9 % | $ | 12,398.9 | $ | 11,364.8 | 9 % | |||||||
| Net income (loss) | $ | (684.4 | ) | $ | (130.3 | ) | 425 % | $ | 124.1 | $ | 118.5 | 5 % | |||||
| Per share available to common shareholders | $ | (1.17 | ) | $ | (0.23 | ) | 418 % | $ | 0.20 | $ | 0.19 | 5 % | |||||
| Total pretax net realized gains (losses) on securities | $ | (351.0 | ) | $ | (217.4 | ) | 61 % | $ | (216.4 | ) | $ | 36.8 | NM | ||||
| Combined ratio | 116.2 | 100.1 | 16.1 pts. | 99.2 | 100.4 | (1.2) pts. | |||||||||||
| Average equivalent common shares | 584.6 | 584.7 | 0 % | 587.1 | 587.1 | 0 % | |||||||||||
NM = Not Meaningful
| September | |||||
| (thousands; unaudited) | 2022 | 2021 | Change | ||
| Policies in Force | |||||
| Personal Lines | |||||
| Agency – auto | 7,600.3 | 7,973.6 | (5) % | ||
| Direct – auto | 9,823.8 | 9,613.1 | 2 % | ||
| Total personal auto | 17,424.1 | 17,586.7 | (1) % | ||
| Total special lines | 5,558.0 | 5,282.4 | 5 % | ||
| Total Personal Lines | 22,982.1 | 22,869.1 | 0 % | ||
| Total Commercial Lines | 1,039.8 | 952.7 | 9 % | ||
| Total Property business | 2,835.5 | 2,735.0 | 4 % | ||
| Companywide Total | 26,857.4 | 26,556.8 | 1 % | ||
See Progressive’s complete monthly earnings release, including the “Monthly Commentary,” for additional information.
About Progressive
Progressive Insurance® makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. 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 car 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:
Jury awards $8.1M to California couple after State Farm rejects $100K settlement
CDP disclosure
Advisor News
- Demonstrating the value of life insurance to Gen Z
- Poor money habits are a dealbreaker in a new relationship
- DC plan sponsors see opportunity in alternatives
- The American Dream: Redefined as financial stability
- Partial annuitization: How advisors can help clients balance income, growth
More Advisor NewsAnnuity News
- CA judge certifies class action in teachers’ lawsuit over in-plan annuity fees
- Globe Life Inc. (NYSE: GL) Records 52-Week High Thursday Morning
- AM Best Managing Director Joins ‘Target Topics’ Podcast to Discuss State of Delegated Underwriting Authority Enterprises Market
- KBRA Assigns Rating to TruSpire Retirement Insurance Company
- Partial annuitization: How advisors can help clients balance income, growth
More Annuity NewsHealth/Employee Benefits News
- New Arizona law provides clarity regarding firefighters’ health insurance
- Mid-year benefits review: What employers miss before renewal
- Downstream effects of federal cuts seen in Kansas budget, access to healthcare, food assistance
- REP. SUMMER LEE JOINS EDUCATION AND WORKFORCE DEMS IN INTRODUCING BILLS TO PROTECT AMERICANS FROM WRONGFUL HEALTH CLAIM DENIALS
- ICYMI: HOSPITAL CLOSURES AND DATA CENTERS PUT ASSEMBLY DISTRICT 92 IN THE SPOTLIGHT
More Health/Employee Benefits NewsLife Insurance News
- Globe Life Inc. (NYSE: GL) Records 52-Week High Thursday Morning
- AM Best Upgrades Credit Ratings of Sagicor Financial Company Ltd. and Most of Its Subsidiaries
- Trust, technology and the future of claims
- New York Life Launches an Indemnity Benefit for its Asset Flex Long-Term Care Insurance Solution
- AM Best Affirms Credit Ratings of DB Insurance Co., Ltd.
More Life Insurance News