Progressive Reports November 2020 Results
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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.
Positive
- Net premiums written increased by $361.8 million (14%) compared to November 2019.
- Net premiums earned rose by $305 million (11%) from the prior year.
- Net income attributable to Progressive surged to $739.8 million, a 142% increase year-over-year.
- Earnings per share available to common shareholders increased to $1.26, up from $0.52.
Negative
- None.
Insights
Analyzing...
MAYFIELD VILLAGE, OHIO, Dec. 18, 2020 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for November 2020:
| November | ||||||||||
| (millions, except per share amounts and ratios; unaudited) | 2020 | 2019 | Change | |||||||
| Net premiums written | $ | 2,957.9 | $ | 2,596.1 | 14 | % | ||||
| Net premiums earned | $ | 3,150.8 | $ | 2,845.8 | 11 | % | ||||
| Net income attributable to Progressive | $ | 739.8 | $ | 306.1 | 142 | % | ||||
| Per share available to common shareholders | $ | 1.26 | $ | 0.52 | 142 | % | ||||
| Total pretax net realized gains (losses) on securities | $ | 459.6 | $ | 150.3 | 206 | % | ||||
| Combined ratio | 86.6 | 94.1 |
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FAQWhat were the net premiums written for Progressive in November 2020?
The net premiums written for Progressive in November 2020 were $2,957.9 million.
How much did Progressive's net income increase in November 2020?
Progressive's net income attributable to the company increased by 142%, totaling $739.8 million in November 2020.
What was Progressive's earnings per share for November 2020?
Progressive reported earnings per share of $1.26 for November 2020.
How did the net premiums earned change for Progressive in November 2020?
Net premiums earned by Progressive increased to $3,150.8 million, an 11% rise compared to November 2019.
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PGR Stock Data
144.27B
584.62M
0.27%
88%
1.2%
Insurance - Property & Casualty
Fire, Marine & Casualty Insurance
United States
MAYFIELD VILLAGE
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