Progressive Reports March Results
Progressive Reports March Results
MAYFIELD VILLAGE, Ohio--(BUSINESS WIRE)-- The Progressive Corporation today reported the following results for March and the first quarter 2013:
Month | Quarter | ||||||||||||||||||||||||||||
(millions, except per share amounts and | 2013 | 2012 | Change | 2013 | 2012 | Change | |||||||||||||||||||||||
Net premiums written | $ | 1,419.0 | $ | 1,325.0 | 7 % | $ | 4,449.4 | $ | 4,162.5 | 7 % | |||||||||||||||||||
Net premiums earned | $ | 1,303.3 | $ | 1,209.0 | 8 % | $ | 4,179.3 | $ | 3,861.5 | 8 % | |||||||||||||||||||
Net income | $ | 74.2 | $ | 76.3 | (3)% | $ | 308.6 | $ | 257.6 | 20 % | |||||||||||||||||||
Per share | $ | .12 | $ | .13 | (2)% | $ | .51 | $ | .42 | 21 % | |||||||||||||||||||
Total pretax net realized gains (losses) | |||||||||||||||||||||||||||||
on securities (including net | |||||||||||||||||||||||||||||
impairment losses) | $ | 18.7 | $ | 36.2 | (48)% | $ | 80.6 | $ | 77.5 | 4 % | |||||||||||||||||||
Combined ratio | 94.9 | 96.0 | (1.1) pts. | 92.4 | 94.1 | (1.7) pts. | |||||||||||||||||||||||
Average equivalent shares | 604.0 | 609.8 | (1)% | 604.4 | 610.0 | (1)% | |||||||||||||||||||||||
(thousands; unaudited) | March | March | |||||||||||||||||||||||||||
2013 | 2012 | Change | |||||||||||||||||||||||||||
Policies in Force: | |||||||||||||||||||||||||||||
Agency - auto | 4,839.4 | 4,816.6 | 0 % | ||||||||||||||||||||||||||
Direct - auto | 4,094.7 | 3,987.5 | 3 % | ||||||||||||||||||||||||||
Total personal auto | 8,934.1 | 8,804.1 | 1 % | ||||||||||||||||||||||||||
Total special lines | 3,935.8 | 3,852.3 | 2 % | ||||||||||||||||||||||||||
Total Personal Lines | 12,869.9 | 12,656.4 | 2 % | ||||||||||||||||||||||||||
Total Commercial Auto | 519.6 | 513.8 | 1 % | ||||||||||||||||||||||||||
See the complete release at http://investors.progressive.com/phoenix.zhtml?c=81824&p=irol-finRel for further information.
Our 2013 Annual Investor Relations Meeting is scheduled to be held on Thursday, May 16, 2013 at 1:00 p.m. eastern time. To register for the webcast and view upcoming events, visit the "Calendar of Events" page on our website at http://investors.progressive.com/phoenix.zhtml?c=81824&p=irol-calendar.
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 it whenever, wherever, and however it's most convenient—online at http://www.progressive.com, by phone at 1-800-PROGRESSIVE, on a mobile device or in-person with a local agent.
Progressive offers insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes. It's the fourth largest auto insurer in the country, the largest seller of motorcycle insurance, and a leader in commercial auto insurance. Progressive also offers car insurance online in Australia at http://www.progressiveonline.com.au.
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 Service Centers.
The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at (NYS: PGR) .
The Progressive Corporation
Matt Downing, 440-395-4222
KEYWORDS: United States North America Ohio
INDUSTRY KEYWORDS:
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