Progressive Reports December 2021 Results

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newsdesk@globenewswire.com (NewsDesk)

MAYFIELD VILLAGE, OHIO, Jan. 26, 2022 (GLOBE NEWSWIRE) — The Progressive Corporation (NYSE:PGR) today reported the following results for December 2021 and the fourth quarter of 2021:

  December     Quarter    
(millions, except per share amounts and ratios; unaudited)  2021    2020   Change  2021    2020   Change
                   
Net premiums written $ 3,113.3   $ 2,789.1   12 % $ 10,749.3   $ 9,542.3   13 %
Net premiums earned $ 3,613.2   $ 3,164.2   14 % $ 11,601.4   $ 10,208.8   14 %
Net income $ 393.3   $ 706.0   (44) % $ 962.3   $ 1,684.3   (43) %
Per share available to common shareholders $ 0.67   $ 1.20   (44) % $ 1.63   $ 2.85   (43) %
Total pretax net realized gains (losses) on securities $ 222.3   $ 340.9   (35) % $ 425.3   $ 760.2   (44) %
Combined ratio   94.6     85.2   9.4 pts.   94.7     88.4   6.3 pts.
Average diluted equivalent common shares   586.4     587.5   0 %   586.3     587.6   0 %
  December
(thousands; unaudited) 2021   2020   Change
Policies in Force          
Personal Lines          
Agency – auto 7,879.0   7,617.0   3%
Direct – auto 9,568.2   8,881.4   8%
Total personal auto 17,447.2   16,498.4   6%
Total special lines 5,288.5   4,915.1   8%
Total Personal Lines 22,735.7   21,413.5   6%
Total Commercial Lines 971.2   822.0   18%
Total Property business 2,776.2   2,484.4   12%
Companywide Total 26,483.1   24,719.9   7%
           

See Progressive’s complete monthly earnings release for additional information.

About Progressive

Progressive InsuranceSM 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

Progressive December 2021 Complete Earnings Release http://ml.globenewswire.com/Resource/Download/2648853f-1811-42f4-950c-90c123e0c378

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Progressive Reports December 2021 Results

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