Progressive Reports December 2022 Results
January 25 2023 - 08:21AM
GlobeNewswire Inc.
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
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