{"id":476859,"date":"2021-04-15T08:18:35","date_gmt":"2021-04-15T12:18:35","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/progressive-reports-march-2021-results\/"},"modified":"2021-04-15T08:18:35","modified_gmt":"2021-04-15T12:18:35","slug":"progressive-reports-march-2021-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/progressive-reports-march-2021-results\/","title":{"rendered":"Progressive Reports March 2021 Results"},"content":{"rendered":"
\n

MAYFIELD VILLAGE, OHIO, April 15, 2021 (GLOBE NEWSWIRE) — The Progressive Corporation (NYSE:PGR) today reported the following results for March and the first quarter of 2021:\u00a0<\/p>\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\nMarch<\/td>\n\u00a0<\/td>\nQuarter<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n2021<\/td>\n2020<\/td>\nChange<\/td>\n2021<\/td>\n2020<\/td>\nChange<\/td>\n<\/tr>\n
(millions, except per share amounts and ratios; unaudited)\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Net premiums written<\/td>\n$3,772.5<\/td>\n$2,860.8<\/td>\n32<\/td>\n%<\/td>\n$11,729.1<\/td>\n$9,871.3<\/td>\n19<\/td>\n%<\/td>\n<\/tr>\n
Net premiums earned<\/td>\n$3,269.9<\/td>\n$2,936.5<\/td>\n11<\/td>\n%<\/td>\n$10,420.2<\/td>\n$9,430.7<\/td>\n10<\/td>\n%<\/td>\n<\/tr>\n
Net income<\/td>\n$567.9<\/td>\n$318.6<\/td>\n78<\/td>\n%<\/td>\n$1,480.0<\/td>\n$692.7<\/td>\n114<\/td>\n%<\/td>\n<\/tr>\n
Per share available to common shareholders<\/td>\n$0.96<\/td>\n$0.54<\/td>\n79<\/td>\n%<\/td>\n$2.51<\/td>\n$1.17<\/td>\n115<\/td>\n%<\/td>\n<\/tr>\n
Total pretax net realized gains (losses) on securities<\/td>\n$348.7<\/td>\n$(329.1)<\/td>\n(206)<\/td>\n%<\/td>\n$585.3<\/td>\n$(553.6)<\/td>\n(206)<\/td>\n%<\/td>\n<\/tr>\n
Combined ratio<\/td>\n90.7<\/td>\n77.1<\/td>\n13.6 pts.<\/td>\n89.3<\/td>\n86.9<\/td>\n2.4 pts.<\/td>\n<\/tr>\n
Average diluted equivalent common shares<\/td>\n586.6<\/td>\n587.0<\/td>\n0<\/td>\n%<\/td>\n586.9<\/td>\n586.9<\/td>\n0<\/td>\n%<\/td>\n<\/tr>\n<\/table>\n

Note: Year-over-year changes reflect the impact on net premiums written, profitability, and the equity markets from the social distancing and shelter-in-place restrictions that were put in place in March 2020 in response to COVID-19.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\nMarch<\/td>\n<\/tr>\n
(thousands; unaudited)<\/p>\n<\/td>\n2021<\/td>\n\u00a0<\/td>\n2020<\/td>\n\u00a0<\/td>\nChange<\/td>\n<\/tr>\n
Policies in Force<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Personal Lines<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n
Agency \u2013 auto<\/td>\n7,863.5<\/td>\n\u00a0<\/td>\n7,164.6<\/td>\n\u00a0<\/td>\n10 %<\/td>\n\u00a0<\/td>\n<\/tr>\n
Direct \u2013 auto<\/td>\n9,338.8<\/td>\n\u00a0<\/td>\n8,126.3<\/td>\n\u00a0<\/td>\n15 %<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total personal auto<\/td>\n17,202.3<\/td>\n\u00a0<\/td>\n15,290.9<\/td>\n\u00a0<\/td>\n13 %<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total special lines<\/td>\n5,026.7<\/td>\n\u00a0<\/td>\n4,574.5<\/td>\n\u00a0<\/td>\n10 %<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total Personal Lines<\/td>\n22,229.0<\/td>\n\u00a0<\/td>\n19,865.4<\/td>\n\u00a0<\/td>\n12 %<\/td>\n\u00a0<\/td>\n<\/tr>\n
Total Commercial Lines<\/td>\n858.9<\/td>\n\u00a0<\/td>\n759.7<\/td>\n\u00a0<\/td>\n13 %<\/td>\n\u00a0<\/td>\n<\/tr>\n
Property business<\/td>\n2,566.3<\/td>\n\u00a0<\/td>\n2,264.1<\/td>\n\u00a0<\/td>\n13 %<\/td>\n\u00a0<\/td>\n<\/tr>\n
Companywide Total<\/td>\n25,654.2<\/td>\n\u00a0<\/td>\n22,889.2<\/td>\n\u00a0<\/td>\n12 %<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

See Progressive\u2019s complete monthly earnings release, including the \u201cMonthly Commentary,\u201d for additional information.<\/p>\n

\n
\n About Progressive<\/u>
\n <\/strong>\n <\/p>\n

The\u00a0Progressive Group of Insurance Companies\u00a0makes it easy to understand, buy and use\u00a0auto insurance<\/u><\/a>.\u00a0Progressive\u00a0offers\u00a0choices\u00a0so consumers can reach us whenever, wherever and however it’s most convenient – online at progressive.com, by phone at\u00a01-800-PROGRESSIVE, on a mobile device or in-person with a local agent.<\/p>\n

Progressive\u00a0provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it\u00a0is the third largest auto insurer in the country, a leading seller of\u00a0motorcycle<\/u><\/a>\u00a0and\u00a0commercial auto insurance<\/u><\/a>, and one of the top 15 homeowners insurance carriers<\/u><\/a>.\u00a0<\/p>\n

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price\u00ae<\/sup>, Snapshot\u00ae<\/sup>, and HomeQuote Explorer\u00ae<\/sup>.<\/p>\n

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE:PGR.<\/p>\n

\n Company Contact:<\/strong>
\n
Douglas S. Constantine
(440) 910-3563
investor_relations@progressive.com<\/a><\/p>\n

The Progressive Corporation
6300 Wilson Mills Road
Mayfield Village, Ohio 44143
http:\/\/www.progressive.com<\/a><\/u><\/p>\n

Progressive March 2021 Complete Earnings Release:\u00a0http:\/\/ml.globenewswire.com\/Resource\/Download\/b6d72c6c-4137-4e2c-9a45-824b03d5c7a0<\/a><\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

MAYFIELD VILLAGE, OHIO, April 15, 2021 (GLOBE NEWSWIRE) — The Progressive Corporation (NYSE:PGR) today reported the following results for March and the first quarter of 2021:\u00a0 \u00a0 March \u00a0 Quarter \u00a0 \u00a0 2021 2020 Change 2021 2020 Change (millions, except per share amounts and ratios; unaudited)\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Net premiums written $3,772.5 $2,860.8 32 % $11,729.1 $9,871.3 19 % Net premiums earned $3,269.9 $2,936.5 11 % $10,420.2 $9,430.7 10 % Net income $567.9 $318.6 78 % $1,480.0 $692.7 114 % Per share available to common shareholders $0.96 $0.54 79 % $2.51 $1.17 115 % Total pretax net realized gains (losses) on securities $348.7 $(329.1) (206) % $585.3 $(553.6) (206) % Combined ratio 90.7 … <\/p>\n

Continue reading “Progressive Reports March 2021 Results”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-476859","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nProgressive Reports March 2021 Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/progressive-reports-march-2021-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Progressive Reports March 2021 Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"MAYFIELD VILLAGE, OHIO, April 15, 2021 (GLOBE NEWSWIRE) — The Progressive Corporation (NYSE:PGR) today reported the following results for March and the first quarter of 2021:\u00a0 \u00a0 March \u00a0 Quarter \u00a0 \u00a0 2021 2020 Change 2021 2020 Change (millions, except per share amounts and ratios; unaudited)\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Net premiums written $3,772.5 $2,860.8 32 % $11,729.1 $9,871.3 19 % Net premiums earned $3,269.9 $2,936.5 11 % $10,420.2 $9,430.7 10 % Net income $567.9 $318.6 78 % $1,480.0 $692.7 114 % Per share available to common shareholders $0.96 $0.54 79 % $2.51 $1.17 115 % Total pretax net realized gains (losses) on securities $348.7 $(329.1) (206) % $585.3 $(553.6) (206) % Combined ratio 90.7 … Continue reading "Progressive Reports March 2021 Results"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/progressive-reports-march-2021-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-15T12:18:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxNzcyNCM0MTIxNjY3IzIwMTY5MTA=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/progressive-reports-march-2021-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/progressive-reports-march-2021-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Progressive Reports March 2021 Results\",\"datePublished\":\"2021-04-15T12:18:35+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/progressive-reports-march-2021-results\\\/\"},\"wordCount\":335,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/progressive-reports-march-2021-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODIxNzcyNCM0MTIxNjY3IzIwMTY5MTA=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/progressive-reports-march-2021-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/progressive-reports-march-2021-results\\\/\",\"name\":\"Progressive Reports March 2021 Results - 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