• Progressive Reports September 2022 Results

    Source: Nasdaq GlobeNewswire / 13 Oct 2022 08:15:45   America/New_York

    MAYFIELD VILLAGE, OHIO, Oct. 13, 2022 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for September 2022 and the third quarter of 2022:

     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 – auto7,600.3 7,973.6 (5) %
    Direct – auto9,823.8 9,613.1 2 %
    Total personal auto17,424.1 17,586.7 (1) %
    Total special lines5,558.0 5,282.4 5 %
    Total Personal Lines22,982.1 22,869.1 0 %
    Total Commercial Lines1,039.8 952.7 9 %
    Total Property business2,835.5 2,735.0 4 %
    Companywide Total26,857.4 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 The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE: PGR.

    Company Contact:
    Douglas S. Constantine
    (440) 395-3707
    investor_relations@progressive.com

    The Progressive Corporation
    6300 Wilson Mills Road
    Mayfield Village, Ohio 44143
    http://www.progressive.com

    Progressive September 2022 Complete Earnings Release: Download PDF


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