Progress Corp Oh Stock Price, News & Analysis

Progressive Insurance has announced the release of a new book, Dr. Rick Will See You Now, aimed at tackling the phenomenon of Parentamorphosis during the holiday season. Authored by Dr. Rick, the book offers humorous advice to help individuals manage parental behaviors that often surface during family gatherings. The limited-edition book is available for pre-order for a nominal shipping cost. This initiative follows a successful marketing campaign and highlights the importance of humor in alleviating holiday stress.

The Progressive Corporation (NYSE: PGR) will host an Investor Relations conference call on November 3, 2021, at 9:30 a.m. ET. The call will last 60 minutes and include a Q&A session with CEO Tricia Griffith and CFO John Sauerland. A Quarterly Report on Form 10-Q will be filed on November 2, 2021, accessible on their website along with a Letter to Shareholders. Call-in details for the conference will be available on Progressive’s investor page. Replays of the call will be accessible shortly after it concludes and will remain available until November 4, 2022.

Progressive Insurance and Fidelity Life have launched RAPIDecision Life One℠, a one-year term life insurance product specifically aimed at first-time buyers. This policy enables quick online quotes with no medical exam required, starting at $7 per month for coverage options from $50,000 to $200,000. The initiative targets younger consumers desiring affordable coverage without long-term commitment, allowing beneficiaries to cover essential costs.

The Progressive Corporation (NYSE:PGR) announced its financial results for September 2021 and the third quarter of 2021. Key highlights include a 15% increase in net premiums written at $4,004 million compared to $3,468 million in 2020. Net premiums earned also rose by 14%, totaling $3,537.5 million. However, the company reported a net loss of $130.3 million, contrasting with a profit of $231.4 million in the same period last year. The combined ratio for the quarter was 100.1, indicating a slight deterioration from 88.3 in the previous year.

Progressive Insurance has appointed Remi Kent as the new Chief Marketing Officer, effective November 1, 2021. Kent previously served as the Global Chief Marketing Officer at 3M, overseeing e-commerce and marketing strategies. She succeeds Jeff Charney, who announced his retirement in March 2021. Kent is noted for her extensive experience and commitment to diversity and inclusion, having held various leadership roles at 3M and Procter & Gamble. The leadership change aims to strengthen the brand's growth and innovation initiatives.

The Progressive Corporation (NYSE:PGR) reported mixed results for August 2021. Net premiums written increased by 13% year-over-year, totaling $3,890.9 million, while net premiums earned rose by 14% to $3,513.8 million. However, the company reported a net loss of $6.6 million, a significant decline from a profit of $487.4 million a year earlier, resulting in a loss per share of $0.02. The combined ratio worsened to 105.3 from 92.6, indicating increased underwriting losses. Conversely, total pretax net realized gains on securities dropped by 60%, totaling $131.5 million, down from $330.9 million.

AM Best has upgraded the Long-Term Issuer Credit Ratings for Protective Insurance Corporation Group and its subsidiaries to “a+” and affirmed the Financial Strength Rating of A. This upgrade follows Progressive Corporation's acquisition of Protective, valued at approximately $338 million. The ratings reflect Protective's strong balance sheet and improved operating performance since 2018, supported by recent corrective measures including strengthening loss reserves. The outlook for these ratings is stable, indicating confidence in Protective's integration and future prospects under Progressive's management.

The Progressive Corporation (NYSE:PGR) reported its July 2021 financial results, highlighting a net premium written of $4,551.6 million, an 11% increase from July 2020. Net premiums earned reached $4,313.5 million, reflecting a 14% growth year-over-year. However, net income decreased significantly by 69% to $255.4 million compared to $812 million in the previous year. The combined ratio deteriorated to 96.7% from 83.5%, indicating increased losses. Despite these challenges, policies in force for personal lines showed a healthy 9% growth.

The Progressive Corporation (NYSE:PGR) declared a $0.10 dividend per common share, payable on October 15, 2021, to shareholders on record by October 7, 2021, with an ex-dividend date of October 6, 2021.

Additionally, a dividend of $26.875 per Series B Preferred Share, totaling $13.4 million, will be distributed on September 15, 2021, to holders of record by August 31, 2021.