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The Progressive Corporation reports recurring developments for an insurance holding company whose subsidiaries sell personal and commercial auto and truck insurance, motorcycle, boat, recreational vehicle, property, and homeowners coverage in the United States. Company updates regularly cover monthly underwriting and financial metrics, including net premiums written and earned, net income, combined ratio, realized securities gains or losses, and policies in force across Personal Lines, Commercial Lines, special lines, and property.
Progressive news also includes common-share dividend declarations, public debt financing activity, investor-relations events, management-transition announcements, and consumer insurance initiatives such as Name Your Price®, Snapshot®, HomeQuote Explorer®, and the UpPayment down payment assistance program.
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.
The Progressive Corporation (NYSE:PGR) announced its financial results for September and Q3 2020, showing significant growth in net premiums written, up 15% to $3,468.1 million for September and 14% to $11,015.1 million for the quarter. Net premiums earned increased by 11% both for the month and the quarter. However, net income attributable to Progressive decreased by 18% year-over-year to $231.4 million for September, with a per-share decline from $0.47 to $0.39. The combined ratio improved to 88.3 from 92.3 a year earlier, and total policies in force rose by 11% across personal and commercial lines.
The Progressive Corporation (NYSE: PGR) reported strong results for August 2020, with net premiums written at $3,437.7 million, up 18% from $2,921.3 million in August 2019. Net premiums earned rose 11% to $3,088.9 million, compared to $2,784.4 million a year prior. Net income attributable to Progressive reached $487.4 million, a 177% increase from $175.9 million, reflecting earnings per share of $0.83, up 179%. The combined ratio improved to 92.6, down from 93.4. The company experienced growth across personal and commercial lines, indicating solid operational performance.
The Progressive Corporation (NYSE: PGR) reported strong financial results for July 2020. Net premiums written increased by 12% to $4,109.3 million compared to $3,675.6 million in July 2019. Net income attributable to Progressive surged by 111% to $812.0 million, with earnings per share rising to $1.38 from $0.65. The company achieved a combined ratio of 83.5, a 6.8-point improvement year-over-year. Total policies in force across personal and commercial lines rose to 24,078.6 thousand, reflecting a 10% increase from the previous year.
The Progressive Corporation (NYSE:PGR) declared a $0.10 per share dividend, payable on October 15, 2020, to shareholders of record by October 7, 2020. The ex-dividend date is October 6, 2020. Additionally, a dividend of $26.875 per Series B Fixed-to-Floating Rate Preferred Share was also announced, totaling $13.4 million, with payment on September 15, 2020, to Series B shareholders recorded by August 31, 2020.
The Progressive Corporation (NYSE: PGR) is set to host an Investor Relations conference call on August 5, 2020, at 10:00 a.m. ET. The call will include a Q&A session with CEO Tricia Griffith and CFO John Sauerland. The company plans to file its Quarterly Report on Form 10-Q on August 4, 2020, and a Shareholders' Report will be posted on its website. Participants can access the call details through Progressive's investor relations page, with replays available post-call. Progressive is a major provider of auto insurance in the U.S., established in 1937.