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Progressive Corp. Reports March 2022 Results

Published 14/04/2022, 14:02
Updated 14/04/2022, 14:02

The Progressive Corporation (NYSE:PGR) today reported the following results for March 2022 and the first quarter of 2022:

  March     Quarter    
(millions, except per share amounts and ratios; unaudited)   2022     2021   Change   2022       2021   Change
                   
Net premiums written $ 3,970.1   $ 3,772.5   5% $ 13,181.0     $ 11,729.1   12%
Net premiums earned $ 3,702.0   $ 3,269.9   13% $ 11,802.9     $ 10,420.2   13%
Net income $ 226.5   $ 567.9   (60)% $ 313.9     $ 1,480.0   (79)%
Per share available to common shareholders $ 0.38   $ 0.96   (60)% $ 0.52     $ 2.51   (79)%
Total pretax net realized gains (losses) on securities $ 112.0   $ 348.7   (68)% $ (445.3)     $ 585.3   (176)%
Combined ratio   97.2     90.7   6.5 pts.   94.5       89.3   5.2 pts.
Average diluted equivalent common shares   586.3     586.6   0%   586.3       586.9   0%

 

  March
(thousands; unaudited) 2022   2021   Change
Policies in Force          
Personal Lines          
Agency – auto 7,758.4   7,863.5   (1)%
Direct – auto 9,541.3   9,338.8   2%
Total personal auto 17,299.7   17,202.3   1%
Total special lines 5,345.9   5,026.7   6%
Total Personal Lines 22,645.6   22,229.0   2%
Total Commercial Lines 999.8   858.9   16%
Total Property business 2,802.2   2,566.3   9%
Companywide Total 26,447.6   25,654.2   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 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 car 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

 


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