Progressive Reports December 2023 Results
24 Janeiro 2024 - 10:01AM
The Progressive Corporation (NYSE:PGR) today reported the following
results for December 2023 and the fourth quarter of 2023:
|
|
|
December |
|
|
|
Quarter |
|
|
|
(millions, except per share amounts and ratios; unaudited) |
|
2023 |
|
|
2023 |
|
|
2022 |
|
|
Change |
|
|
Net premiums written |
$ |
4,875.9 |
|
$ |
15,129.8 |
|
$ |
12,460.2 |
|
|
21 |
% |
|
Net premiums earned |
$ |
5,310.4 |
|
$ |
15,772.6 |
|
$ |
12,891.5 |
|
|
22 |
% |
|
Net income |
$ |
901.2 |
|
$ |
1,987.8 |
|
$ |
826.4 |
|
|
141 |
% |
|
Per share available to common shareholders |
$ |
1.53 |
|
$ |
3.37 |
|
$ |
1.40 |
|
|
141 |
% |
|
Total pretax net realized gains (losses) on securities |
$ |
144.0 |
|
$ |
303.4 |
|
$ |
(72.8 |
) |
|
NM |
|
Combined ratio |
|
83.4 |
|
|
88.7 |
|
|
93.9 |
|
|
(5.2) |
pts. |
|
Combined ratio – prior year month |
|
93.3 |
|
|
|
|
|
|
|
|
|
|
|
Average diluted equivalent common shares |
|
587.4 |
|
|
587.5 |
|
|
587.1 |
|
|
0 |
% |
NM = Not Meaningful
In October 2023, we converted our monthly accounting closing
calendar to align with the Gregorian calendar. We do not expect
that this change will have a material impact on our reported
quarterly and annual underwriting results but it may impact our
year-over-year comparisons on monthly results from October 2023
through September 2024. Therefore, during this time period, we have
modified and limited the content of the earnings release, compared
to our historical reporting. Click here for further discussion on
the closing calendar conversion in the October 2023 release, issued
November 17, 2023.
|
|
December |
|
(thousands; unaudited) |
|
2023 |
|
2022 |
|
Change |
|
Policies in Force |
|
|
|
|
|
|
|
|
|
Personal Lines |
|
|
|
|
|
|
|
|
|
Agency – auto |
|
8,335.5 |
|
7,766.3 |
|
7 |
% |
|
|
Direct – auto |
|
11,190.4 |
|
10,131.0 |
|
10 |
% |
|
|
Total personal auto |
|
19,525.9 |
|
17,897.3 |
|
9 |
% |
|
|
Total special lines |
|
5,968.6 |
|
5,558.1 |
|
7 |
% |
|
|
Total Personal Lines |
|
25,494.5 |
|
23,455.4 |
|
9 |
% |
|
|
Total Commercial Lines |
|
1,098.5 |
|
1,046.4 |
|
5 |
% |
|
|
Total Property business |
|
3,096.5 |
|
2,851.3 |
|
9 |
% |
|
|
Companywide Total |
|
29,689.5 |
|
27,353.1 |
|
9 |
% |
|
|
|
|
|
|
|
|
|
|
|
See Progressive’s complete monthly earnings release, including
the “Monthly Commentary,” 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 second largest auto insurer in the country, a
leading seller of commercial auto, motorcycle, and boat
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
Download PDF: Progressive December 2023 Complete Earnings
Release
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