Progressive Reports March 2019 Results

 

MAYFIELD VILLAGE, OHIO - April 16, 2019 -- The Progressive Corporation (NYSE: PGR) today reported the following results for March and the first quarter of 2019:

			March																						Quarter
(millions, except per share amounts and ratios; unaudited)	2019										2018										Change		2019					2018					Change
Net premiums written	$	2,959.7							$	2,538.7								17				%	$	9,239.9				$	7,968.8			16		%
Net premiums earned	$	2,668.6							$	2,279.7								17				%	$	8,459.8				$	7,174.0			18		%
Net income attributable to Progressive	$	194.8							$	140.6								39				%	$	1,078.4				$	718.0			50		%
Per share available to common shareholders	$	0.33							$	0.24								38				%	$	1.83				$	1.22			49		%
Total pretax net realized gains (losses) on securities	$	35.1						$		(89.7)									(139)			%	$	414.5				$	(48.2)					NM
Combined ratio	87.0							90.3												(3.3) pts.			88.8					88.4				0.4 pts.
Average diluted equivalent common shares	586.6							585.7												0		%	586.6					585.6				0		%

NM = Not Meaningful

(thousands; unaudited)			March		March
			2019		2018		Change
Policies in Force
Vehicle businesses:
Agency - auto			6,609.1		5,909.1		12 %
Direct - auto			7,335.3		6,385.6		15 %
	Total personal auto		13,944.4		12,294.7		13 %
	Total special lines		4,402.1		4,286.2		3 %
		Total Personal Lines	18,346.5		16,580.9		11 %
		Total Commercial Lines	711.6		659.0		8 %
Property business			2,002.3		1,651.0		21 %

About Progressive

The Progressive Group of Insurance Companies makes it easy to understand, buy and use auto insurance. 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. Home insurance is underwritten by select carriers, including American Strategic Insurance Corp. and subsidiaries (ASI), our majority owned subsidiaries.

Progressive is the third largest auto insurer in the country; a leading seller of motorcycle and commercial auto insurance; and through ASI, 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:
Julia Hornack
(440) 395-2164

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

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