Progressive Reports September 2023 Results.
MAYFIELD VILLAGE, OHIO: The Progressive Corporation (NYSE:PGR) today reported the following results for September 2023 and the third quarter of 2023:
September
Quarter
(millions, except per share amounts and ratios; unaudited)
2023
2022
Change
2023
2022
Change
Net premiums written
$4,899.5
$4,007.3
22
%
$15,593.8
$13,017.8
20
%
Net premiums earned
$4,649.3
$3,869.5
20
%
$14,894.3
$12,398.9
20
%
Net income (loss)
$369.3
$(684.4)
(154)
%
$1,121.3
$124.1
NM
Per share available to common shareholders
$0.62
$(1.17)
(153)
%
$1.89
$0.20
NM
Total pretax net realized gains (losses) on securities
$(159.1)
$(351.0)
(55)
%
$(149.0)
$(216.4)
(31
)%
Combined ratio
89.7
116.2
(26.5) pts.
92.4
99.2
(6.8) pts.
Average equivalent common shares
587.6
584.6
1
%
587.5
587.1
0
%
NM = Not Meaningful
September
(thousands; unaudited)
2023
2022
Change
Policies in Force
Personal Lines
Agency - auto
8,363.3
7,600.3
10
%
Direct - auto
11,154.3
9,823.8
14
%
Total personal auto
19,517.6
17,424.1
12
%
Total special lines
5,956.2
5,558.0
7
%
Total Personal Lines
25,473.8
22,982.1
11
%
Total Commercial Lines
1,110.3
1,039.8
7
%
Total Property business
3,025.2
2,835.5
7
%
Companywide Total
29,609.3
26,857.4
10
%
See Progressive's complete monthly earnings release for additional information.
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