Progressive Reports April 2017 Results

 

MAYFIELD VILLAGE, OHIO - May 17, 2017 -- The Progressive Corporation (NYSE:PGR) today reported the following results for April 2017:

(millions, except per share amounts and ratios; unaudited)	April			April			Change
	2017			2016
Net premiums written	$	2,704.0		$	2,325.7		16 %
Net premiums earned	$	2,388.3		$	2,105.4		13 %
Net income attributable to Progressive	$	196.6		$	54.5		261 %
Per share	$	0.34		$	0.09		262 %
Total pretax net realized gains (losses) on securities
(including net impairment losses)	$	9.5		$	15.5		(39) %
Combined ratio		88.9			98.4		(9.5) pts.
Average diluted equivalent shares		583.6			585.2		0 %

(thousands; unaudited)			April		April
			2017		2016		Change
Policies in Force
Vehicle businesses:
Agency - auto			5,283.1		4,899.4		8 %
Direct - auto			5,632.0		5,232.7		8 %
	Total personal auto		10,915.1		10,132.1		8 %
	Total special lines		4,293.9		4,185.2		3 %
		Total Personal Lines	15,209.0		14,317.3		6 %
		Total Commercial Lines	615.0		587.0		5 %
Property business			1,279.4		1,079.0		19 %

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 http://www.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 fourth largest auto insurer in the country; a leading seller of motorcycle and commercial auto insurance; and through ASI, one of the top 20 homeowners 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 Service Centers.

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE:PGR.



Company Contact:
Julia Hornack
[phone]

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

To view the complete release, click the attachment below.

Progressive April 2017 Complete Earnings Release

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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: The Progressive Corporation via Globenewswire