Welcome to our dedicated page for Progress Oh news (Ticker: PGR), a resource for investors and traders seeking the latest updates and insights on Progress Oh stock.
The Progressive Corporation (NYSE: PGR), based in Mayfield Village, Ohio, regularly issues news and updates under the Progressive Insurance® brand covering its activities in car insurance, home insurance, and other protection needs. This news page aggregates company announcements so readers can follow developments at one of the largest personal auto insurers in the United States and a significant provider of commercial auto, motorcycle, boat, recreational vehicle, and homeowners insurance.
Progressive’s news flow frequently includes monthly and quarterly financial results, where the company reports net premiums written, net premiums earned, net income, combined ratio, and policies in force across personal and commercial lines. These releases are often accompanied by Form 8-K filings that reference the same financial information, giving investors and analysts insight into trends in its property and casualty insurance operations.
In addition to earnings-related items, Progressive issues news on dividend declarations, annual meeting record dates, and investor relations events, such as conference calls and webcasts associated with its quarterly reports and shareholder communications. These updates provide context on capital returns and key dates for shareholders of PGR.
The company also publishes business and partnership announcements, such as its expanded relationship with Best Egg, Inc. as a personal loan provider within Progressive’s ecosystem, and research-based communications, including surveys on driver education and road safety released in connection with National Teen Driver Safety Week. Together, these categories of news give a broader view of how Progressive engages with customers, partners, and the driving public.
Investors and observers who track PGR news can use this page to follow Progressive’s reported financial performance, capital actions, collaborations, and consumer-focused studies, all of which reflect its role in the direct property and casualty insurance industry.
The Progressive Corporation (NYSE:PGR) announced its financial results for January 2021, demonstrating strong performance across key metrics. Net premiums written reached $4,104.2 million, a 14% increase from $3,606.3 million in January 2020. Net premiums earned also rose to $3,947.8 million, up 10% from $3,579.1 million. The company reported a net income attributable to Progressive of $557.5 million, a significant 82% increase compared to $307.0 million last year. Additionally, the combined ratio improved to 86.3, down 5.8 points from 92.1.
Progressive Corporation announced an agreement to acquire Protective Insurance Corporation for $23.30 per share, totaling approximately $338 million. The transaction, unanimously approved by Protective's Board, is expected to close by Q3 2021, pending regulatory and shareholder approvals. This acquisition will enhance Progressive’s commercial auto insurance capabilities, particularly in larger fleet and workers’ compensation coverage. Protective shareholders will receive a 49.1% premium based on recent stock prices.
The Progressive Corporation (NYSE:PGR) reported its December 2020 and Q4 2020 results, indicating a decline in net premiums written by 16% to $2.79 billion in December, while Q4 net premiums written fell by 1% to $9.54 billion. Net premiums earned saw an 11% decrease in December, totaling $3.16 billion, and a 3% increase in Q4 to $10.21 billion. Despite these drops, net income attributable to Progressive surged 53% to $706 million in December and increased 57% to $1.68 billion in Q4. The company also recorded a significant improvement in total pretax net realized gains on securities, up 172% to $340.9 million in December.
The Progressive Corporation (NYSE:PGR) reported strong financial results for November 2020, showcasing a significant year-over-year growth in key metrics. Net premiums written reached $2,957.9 million, marking a 14% increase from $2,596.1 million in 2019. Net premiums earned also rose by 11% to $3,150.8 million. The net income attributable to Progressive surged to $739.8 million, up 142% from $306.1 million in the previous year. Additionally, the per share earnings rose to $1.26, reflecting strong financial health.
Progressive, a leader in commercial auto insurance, has launched Snapshot ProView®, a voluntary usage-based insurance (UBI) and fleet management program for small businesses. Enrolled customers can save a minimum of 5% on their Progressive Commercial Auto policy, with potential savings reaching up to 18% based on vehicle type and usage. The program includes real-time tracking, geofencing, and personalized safety insights, promoting safe driving. Snapshot ProView complements Progressive's existing Smart Haul® program, using extensive data analytics to enhance fleet efficiency and insurance cost management.
The Progressive Corporation (NYSE:PGR) declared a quarterly dividend of $0.10 per share and an annual common share dividend of $4.50 per share, totaling $4.60 per share payable on January 15, 2021. The record date for this dividend is January 8, 2021, with an ex-dividend date of January 7, 2021. Additionally, a dividend of $26.875 per Series B Preferred Share, totaling $13.4 million, will be paid on March 15, 2021. The Board aims to maintain the quarterly dividend at $0.10 for 2021.
The Progressive Corporation (NYSE:PGR) reported its October 2020 financial results, showcasing significant growth in net premiums written and earned. Net premiums written totaled $3,795.3 million, up 4% from $3,655.7 million in 2019, while net premiums earned rose 11% to $3,893.8 million from $3,507.2 million. However, net income attributable to Progressive declined by 22%, reaching $238.5 million compared to $304.7 million in the prior year. The combined ratio improved to 92.6 from 94.0, reflecting better cost management. Total policies in force rose by 11% year-over-year.
On November 9, 2020, The Progressive Corporation's Board of Directors expanded the Board from 12 to 13 members, electing Devin Johnson as the new independent director. Johnson, currently Chief Operating Officer at The SpringHill Company, brings a wealth of experience, including his role as President of UNINTERRUPTED and senior VP at Tribune Media and NBCUniversal. His term is set to expire at the 2021 Annual Meeting of Shareholders. Progressive, a leading auto insurer and financial services company, continues to innovate in customer service and product offerings.
Progressive Insurance announces its eighth annual Keys to Progress vehicle donation event, set for November 5, 2020. This year, 45 veterans will receive reliable transportation, bringing the total to over 750 vehicles donated since 2013. In collaboration with Enterprise Rent-A-Car, the vehicles come insured for six months. The initiative aims to support veterans nationwide, replacing previous physical giveaway events due to COVID-19. Progressive expresses pride in assisting veterans during this challenging year, emphasizing their commitment to community support.
Progressive Corporation (NYSE: PGR) will host an Investor Relations conference call on November 4, 2020, at 9:30 AM ET. The call will last 60 minutes and include a Q&A session with CEO Tricia Griffith and CFO John Sauerland. Participants can ask questions via phone, while the webcast will be listen-only. On November 3, the company will file its Quarterly Report on Form 10-Q and post its Shareholders’ Report on its website. Replays of the conference call will be available shortly after the event, with access until November 5, 2021, for the webcast and until November 20, 2020, for the phone replay.
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