The Progressive Corporation (NYSE:PGR) today reported the following results for May 2023: May(millions, except per share amounts and ratios; unaudited)20232022Change Net premiums
The Progressive Corporation (NYSE:PGR) today reported the following results for May 2023:
| May | ||||||||||
| (millions, except per share amounts and ratios; unaudited) | 2023 | 2022 | Change | |||||||
| Net premiums written | $ | 4,321.4 | $ | 3,724.3 | 16 | % | ||||
| Net premiums earned | $ | 4,490.4 | $ | 3,763.6 | 19 | % | ||||
| Net income | $ | 108.2 | $ | 92.1 | 17 | % | ||||
| Per share available to common shareholders | $ | 0.18 | $ | 0.15 | 17 | % | ||||
| Total pretax net realized gains (losses) on securities | $ | (35.3 | ) | $ | (89.0 | ) | (60 | ) | % | |
| Combined ratio | 99.0 | 96.5 | 2.5 pts. | |||||||
| Average equivalent common shares | 587.0 | 586.4 | 0 | % | ||||||
| May | ||||||||
| (thousands; unaudited)
|
2023 | 2022 | Change | |||||
| Policies in Force | ||||||||
| Personal Lines | ||||||||
| Agency – auto | 8,423.2 | 7,658.9 | 10 | % | ||||
| Direct – auto | 11,243.3 | 9,541.1 | 18 | % | ||||
| Total personal auto | 19,666.5 | 17,200.0 | 14 | % | ||||
| Total special lines | 5,787.0 | 5,440.8 | 6 | % | ||||
| Total Personal Lines | 25,453.5 | 22,640.8 | 12 | % | ||||
| Total Commercial Lines | 1,095.3 | 1,019.3 | 7 | % | ||||
| Total Property business | 2,957.5 | 2,818.7 | 5 | % | ||||
| Companywide Total | 29,506.3 | 26,478.8 | 11 | % | ||||
See Progressive’s complete monthly earnings release, including the “Monthly Commentary,” for additional information.
