Progressive Reports December 2017 Results and Annual Dividend Amount
Wednesday, January 24, 2018 8:42:57 AM ET
MAYFIELD VILLAGE, OHIO - January 24, 2018 -- The Progressive Corporation (PGR ) today reported the following results for December 2017 and the fourth quarter of 2017:
(millions, except per share amounts and ratios; unaudited) 2017 2016 Change 2017 2016 Change
Net premiums written $ 1,972.3 $ 1,609.0 23 % $ 6,752.6 $ 5,551.5 22 %
Net premiums earned $ 2,144.7 $ 1,825.5 17 % $ 6,845.9 $ 5,871.4 17 %
Net income attributable to Progressive $ 261.3 $ 161.9 61 % $ 576.3 $ 383.2 50 %
Per share $ 0.45 $ 0.28 61 % $ 0.98 $ 0.66 50 %
Total pretax net realized gains (losses) on
securities (including net impairment losses) $ (12.6) $ (21.8) (42) % $ (9.7) $ 22.1 (144) %
Combined ratio 90.7 88.9 1.8 pts. 91.4 92.7 (1.3) pts.
Average diluted equivalent shares 585.9 582.9 1 % 585.7 583.0 0 %
(thousands; unaudited) December December
2017 2016 Change
Policies in Force
Agency - auto 5,670.7 5,045.4 12 %
Direct - auto 6,039.1 5,348.3 13 %
Total personal auto 11,709.8 10,393.7 13 %
Total special lines 4,365.7 4,263.1 2 %
Total Personal Lines 16,075.5 14,656.8 10 %
Total Commercial Lines 646.8 607.9 6 %
Property business 1,461.7 1,201.9 22 %
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 its 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. 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 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(R), Snapshot(R), and HomeQuote Explorer(R).
The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE:PGR.
The Progressive Corporation
6300 Wilson Mills Road
Mayfield Village, Ohio 44143
To view the complete release, click the attachment below.
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Source: The Progressive Corporation via Globenewswire
Progressive December 2017 Complete Earnings Release - http://hugin.info/152879/R/2163308/832182.pdf