Progressive Reports October 2020 Results

MAYFIELD VILLAGE, OHIO, Nov. 24, 2020 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for October 2020: 

 October
(millions, except per share amounts and ratios; unaudited)
2020 2019 Change
     
Net premiums written$3,795.3  $3,655.7  4 %
Net premiums earned$3,893.8  $3,507.2  11 %
Net income attributable to Progressive$238.5  $304.7  (22)%
Per share available to common shareholders$0.40  $0.52  (22)%
Total pretax net realized gains (losses) on securities$(40.3) $93.6  (143)%
Combined ratio 92.6   94.0  (1.4) pts. 
Average diluted equivalent common shares 587.7   586.9   %


 October
(thousands; unaudited)
2020 2019 Change
Policies in Force     
Personal Lines     
Agency – auto7,583.4 6,949.9 9%
Direct – auto8,840.1 7,774.4 14%
Total personal auto16,423.5 14,724.3 12%
Total special lines4,911.9 4,560.8 8%
Total Personal Lines21,335.4 19,285.1 11%
Total Commercial Lines815.4 752.9 8%
Property business2,443.1 2,163.4 13%
Companywide Total24,593.9 22,201.4 11%
      

See Progressive's complete monthly earnings release, including the "Monthly Commentary," for additional information.

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; 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) 910-3563
investor_relations@progressive.com 

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

Progressive October 2020 Complete Earnings Release http://ml.globenewswire.com/Resource/Download/94d9bf85-e402-4a16-a72d-ca72524e0486


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