Progressive Reports December 2022 Results
01/25/2023 - 08:21 AM
MAYFIELD VILLAGE, OHIO, Jan. 25, 2023 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for December 2022 and the fourth quarter of 2022:
December Quarter (millions, except per share amounts and ratios; unaudited) 2022 2021 Change 2022 2021 Change Net premiums written $ 3,574.0 $ 3,113.3 15 % $ 12,460.2 $ 10,749.3 16 % Net premiums earned $ 4,030.0 $ 3,613.2 12 % $ 12,891.5 $ 11,601.4 11 % Net income $ 5.8 $ 393.3 (99) % $ 826.4 $ 962.3 (14) % Per share available to common shareholders $ 0.01 $ 0.67 (99) % $ 1.40 $ 1.63 (14) % Total pretax net realized gains (losses) on securities $ (411.1 ) $ 222.3 (285) % $ (72.8 ) $ 425.3 (117) % Combined ratio 93.3 94.6 (1.3) pts. 93.9 94.7 (0.8) pts. Average diluted equivalent common shares 587.1 586.4 0 % 587.1 586.3 0 %
December (thousands; unaudited) 2022 2021 Change Policies in Force Personal Lines Agency – auto 7,766.3 7,879.0 (1 ) % Direct – auto 10,131.0 9,568.2 6 % Total personal auto 17,897.3 17,447.2 3 % Total special lines 5,558.1 5,288.5 5 % Total Personal Lines 23,455.4 22,735.7 3 % Total Commercial Lines 1,046.4 971.2 8 % Total Property business 2,851.3 2,776.2 3 % Companywide Total 27,353.1 26,483.1 3 %
See Progressive’s complete monthly earnings release 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 however it's most convenient for them — online at progressive.com , by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, 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 auto 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) 395-3707investor_relations@progressive.com The Progressive Corporation 6300 Wilson Mills Road Mayfield Village, Ohio 44143http://www.progressive.com
Progressive December 2022 Complete Earnings Release: Download PDF
PGR Rankings
#944 Ranked by Stock Gains
PGR Stock Data
Industry
Direct Property and Casualty Insurance Carriers
Sector
Finance and Insurance
Tags
Finance, Property/Casualty Insurance, Finance and Insurance, Direct Property and Casualty Insurance Carriers
Country
US
City
Mayfield Village
About PGR
progressive is a place where collaboration is encouraged, hard work is rewarded and creativity is celebrated. each of our employees has a role in our success and together, we continue to find new and better ways to satisfy our customers and move the insurance industry forward. with over 75 years of business, we ensure more than 13 million customers. people from all walks of life, all fields of business and all 50 states make up our diverse group of 26,000 talented professionals. with six large locations and hundreds of smaller claims and legal offices across the country, we collectively work toward our goal of becoming consumers’ number one choice for auto insurance.