The Progressive Corporation (NYSE:PGR) today reported the following results for April 2023:
| April | |||||||||
| (millions, except per share amounts and ratios; unaudited) | 2023 | 2022 | Change | ||||||
| Net premiums written | $ | 6,075.4 | $ | 4,820.7 | 26 | % | |||
| Net premiums earned | $ | 5,458.8 | $ | 4,614.1 | 18 | % | |||
| Net income (loss) | $ | 196.3 | $ | (198.3 | ) | (199 | ) | % | |
| Per share available to common shareholders | $ | 0.33 | $ | (0.34 | ) | (196 | ) | % | |
| Total pretax net realized gains (losses) on securities | $ | 18.4 | $ | (524.5 | ) | (104 | ) | % | |
| Combined ratio | 97.9 | 95.5 | 2.4 pts. | ||||||
| Average equivalent common shares | 587.1 | 584.3 | 0 | % | |||||
| April | ||||||
| (thousands; unaudited) |
2023 | 2022 | Change | |||
| Policies in Force | ||||||
| Personal Lines | ||||||
| Agency – auto | 8,337.1 | 7,702.3 | 8 | % | ||
| Direct – auto | 11,191.1 | 9,537.7 | 17 | % | ||
| Total personal auto | 19,528.2 | 17,240.0 | 13 | % | ||
| Total special lines | 5,715.9 | 5,392.0 | 6 | % | ||
| Total Personal Lines | 25,244.1 | 22,632.0 | 12 | % | ||
| Total Commercial Lines | 1,085.9 | 1,012.3 | 7 | % | ||
| Total Property business | 2,939.4 | 2,812.8 | 5 | % | ||
| Companywide Total | 29,269.4 | 26,457.1 | 11 | % | ||
See Progressive’s complete monthly earnings release, including the “Monthly Commentary,” for additional information.
