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Progressive Reports June 2019 Results

/EIN News/ -- MAYFIELD VILLAGE, OHIO, July 17, 2019 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for June 2019 and the second quarter of 2019:

   June
  Quarter
(millions, except per share amounts and ratios; unaudited) 2019   2018  Change 2019  2018 Change
     
Net premiums written $ 2,794.0   $ 2,455.6   14 %  $ 9,126.5   $ 8,095.3   13 %
Net premiums earned $ 2,745.0   $ 2,391.7   15 %  $ 8,824.7   $ 7,634.2   16 %
Net income attributable to Progressive $ 413.1   $ 175.0   136 %  $ 979.4   $ 704.2   39 %
Per share available to common shareholders $ 0.70   $ 0.29   137  $ 1.66   $ 1.19   39 %
Total pretax net realized gains (losses) on securities $ 252.6   $ (16.3 ) NM    $ 179.9   $ 32.8   448 %
Combined ratio 92.7   92.6    0.1  pts.   90.4      90.9   (0.5) pts.
Average diluted equivalent common shares 587.0   585.8   0 % 586.9     585.8   0 %
                       
NM = Not Meaningful                      


(thousands; unaudited) June 
      2019   2018   Change
Policies in Force           
Agency – auto 6,783.7   6,107.4   11 %
Direct – auto 7,528.4   6,650.9   13 %
   Total personal auto 14,312.1   12,758.3   12 %
   Total special lines 4,510.2   4,387.4   3 %
    Total Personal Lines 18,822.3   17,145.7   10 %
    Total Commercial Lines 734.2   678.9   8 %
    Property business 2,071.6   1,766.6   17 %
               

About Progressive

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 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. Home insurance is underwritten by select carriers, including American Strategic Insurance Corp. and subsidiaries (ASI), our majority owned subsidiaries.

Progressive is the third largest auto insurer in the country; a leading seller of motorcycle and commercial auto insurance; and through ASI, 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:
Julia Hornack
(440) 395-2164

The Progressive Corporation
6300 Wilson Mills Road
Mayfield Village, Ohio  44143
http://www.progressive.com

Progressive June 2019 Complete Earnings Release: http://ml.globenewswire.com/Resource/Download/91dd5c10-a9fd-4ef9-a90b-ba0686e0f1fa.

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