Progressive Reports December 2024 Results
Progressive (NYSE:PGR) has reported strong financial results for December 2024. Net premiums written increased by 22% to $5.96 billion for December and 20% to $18.11 billion for the quarter. Net income grew 5% to $942 million in December and 19% to $2.36 billion for the quarter. The company maintained a solid combined ratio of 84.1 in December.
Policies in force showed significant growth across segments, with Personal Lines increasing 18% to 33.8 million policies and Commercial Lines growing 4% to 1.14 million policies. Direct auto policies saw the highest growth at 25% reaching 14 million policies. However, the company experienced pretax net realized losses on securities of $140 million in December, compared to gains of $144 million in the previous year.
Progressive (NYSE:PGR) ha riportato solidi risultati finanziari per dicembre 2024. I premi netti contabilizzati sono aumentati del 22% a $5,96 miliardi per dicembre e del 20% a $18,11 miliardi per il trimestre. L'utile netto è cresciuto del 5% a $942 milioni a dicembre e del 19% a $2,36 miliardi per il trimestre. L'azienda ha mantenuto un solido rapporto combinato di 84,1 a dicembre.
Le polizze in vigore hanno mostrato una crescita notevole tra i vari segmenti, con Linee Personali aumentate del 18% a 33,8 milioni di polizze e Linee Commerciali cresciute del 4% a 1,14 milioni di polizze. Le polizze auto dirette hanno registrato la crescita più alta, del 25%, raggiungendo 14 milioni di polizze. Tuttavia, l'azienda ha subito perdite nette realizzate su titoli ante imposte di $140 milioni a dicembre, rispetto ai guadagni di $144 milioni dell'anno precedente.
Progressive (NYSE:PGR) ha informado resultados financieros sólidos para diciembre de 2024. Las primas netas escritas aumentaron un 22% a $5.96 mil millones para diciembre y un 20% a $18.11 mil millones para el trimestre. El ingreso neto creció un 5% a $942 millones en diciembre y un 19% a $2.36 mil millones para el trimestre. La compañía mantuvo un sólido ratio combinado de 84.1 en diciembre.
Las pólizas en vigor mostraron un crecimiento significativo en todos los segmentos, con Líneas Personales aumentando un 18% a 33.8 millones de pólizas y Líneas Comerciales creciendo un 4% a 1.14 millones de pólizas. Las pólizas de auto directas vieron el mayor crecimiento, del 25%, alcanzando 14 millones de pólizas. Sin embargo, la compañía experimentó pérdidas netas realizadas en valores antes de impuestos de $140 millones en diciembre, en comparación con ganancias de $144 millones en el año anterior.
Progressive (NYSE:PGR)는 2024년 12월에 강력한 재무 실적을 보고했습니다. 순보험료는 22% 증가하여 59.6억 달러에 달하고, 분기 기준으로는 20% 증가하여 181.1억 달러에 이릅니다. 12월 순이익은 5% 증가하여 9억 4200만 달러에 도달했고, 분기 기준으로는 19% 증가하여 23억 6000만 달러가 되었습니다. 이 회사는 12월에 84.1의 안정적인 결합 비율을 유지했습니다.
보험 계약 수는 여러 부문에서 눈에 띄는 성장세를 보였으며, 개인 라인 보험은 18% 증가하여 3380만 계약에 이르고, 상업 라인 보험은 4% 증가하여 114만 계약이 되었습니다. 직접 자동차 보험이 25%로 가장 높은 성장을 보여 1400만 계약에 도달했습니다. 그러나 이 회사는 12월에 유가증권에서 세전 순실현손실이 1억 4000만 달러 발생했으며, 이는 전년도의 1억 4400만 달러 이익과 비교되는 수치입니다.
Progressive (NYSE:PGR) a annoncé de solides résultats financiers pour décembre 2024. Les primes nettes écrites ont augmenté de 22 % atteignant 5,96 milliards de dollars pour décembre et de 20 % atteignant 18,11 milliards de dollars pour le trimestre. Le revenu net a crû de 5 % pour atteindre 942 millions de dollars en décembre et de 19 % à 2,36 milliards de dollars pour le trimestre. L’entreprise a maintenu un ratio combiné solide de 84,1 en décembre.
Les polices en vigueur ont montré une croissance significative dans tous les segments, avec les Lignes Personnelles en hausse de 18 % à 33,8 millions de polices et les Lignes Commerciales augmentant de 4 % à 1,14 million de polices. Les polices automobiles directes ont enregistré la plus forte croissance de 25 % atteignant 14 millions de polices. Cependant, l'entreprise a subi des pertes nettes réalisées avant impôts de 140 millions de dollars sur des titres en décembre, comparativement à des gains de 144 millions de dollars l'année précédente.
Progressive (NYSE:PGR) hat für Dezember 2024 starke Finanzergebnisse gemeldet. Die brutto verdienten Prämien stiegen um 22% auf 5,96 Milliarden Dollar für Dezember und um 20% auf 18,11 Milliarden Dollar für das Quartal. Der Nettogewinn wuchs um 5% auf 942 Millionen Dollar im Dezember und um 19% auf 2,36 Milliarden Dollar für das Quartal. Das Unternehmen hielt im Dezember eine solide kombinierte Quote von 84,1 aufrecht.
Die in Kraft befindlichen Policen zeigten in allen Segmenten ein signifikantes Wachstum, wobei Private Linien um 18% auf 33,8 Millionen Policen zunahmen und Kommerzielle Linien um 4% auf 1,14 Millionen Policen wuchsen. Direkte Autopolicen verzeichneten das höchste Wachstum von 25%, mit 14 Millionen Policen. Das Unternehmen erlitt jedoch im Dezember vor Steuern realisierte Nettoverluste von 140 Millionen Dollar bei Wertpapieren, im Vergleich zu Gewinnen von 144 Millionen Dollar im Vorjahr.
- Net premiums written increased 22% YoY to $5.96B in December
- Net income grew 19% to $2.36B for the quarter
- Total policies in force increased 18% YoY to 35M
- Direct auto policies grew 25% YoY to 14M
- Combined ratio improved to 87.9 from 88.7 in Q4
- Pretax net realized losses on securities of $140M in December vs $144M gain last year
- Combined ratio slightly worsened to 84.1 from 83.4 in December
Insights
Progressive's December 2024 results demonstrate exceptional operational execution and market share gains. The
The combined ratio of
Notable concerns include the
The policy growth metrics reveal a strategic shift toward higher-margin segments:
- Direct auto policies increased
25% , reflecting successful digital channel optimization - Property policies grew
14% , indicating effective cross-selling - Commercial lines expanded
4% , showing disciplined growth in a competitive market
The
MAYFIELD VILLAGE, OHIO, Jan. 29, 2025 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month and quarter ended December 31, 2024:
| December | Quarter | |||||||||||||||||||
| (millions, except per share amounts and ratios; unaudited) | 2024 | 2023 | Change | 2024 | 2023 | Change | ||||||||||||||
| Net premiums written | $ | 5,964 | $ | 4,876 | 22 | % | $ | 18,105 | $ | 15,130 | 20 | % | ||||||||
| Net premiums earned | $ | 6,717 | $ | 5,310 | 26 | % | $ | 19,144 | $ | 15,773 | 21 | % | ||||||||
| Net income | $ | 942 | $ | 901 | 5 | % | $ | 2,356 | $ | 1,988 | 19 | % | ||||||||
| Per share available to common shareholders | $ | 1.60 | $ | 1.53 | 5 | % | $ | 4.01 | $ | 3.37 | 19 | % | ||||||||
| Total pretax net realized gains (losses) on securities | $ | (140 | ) | $ | 144 | (197 | ) | % | $ | (53 | ) | $ | 303 | (117 | ) | % | ||||
| Combined ratio | 84.1 | 83.4 | 0.7 | pts. | 87.9 | 88.7 | (0.8 | ) | pts. | |||||||||||
| Average diluted equivalent common shares | 587.7 | 587.4 | 0 | % | 587.7 | 587.5 | 0 | % | ||||||||||||
| December 31, | |||||
| (thousands; unaudited) | 2024 | 2023 | % Change | ||
| Policies in Force | |||||
| Personal Lines | |||||
| Agency – auto | 9,778 | 8,336 | 17 | ||
| Direct – auto | 13,996 | 11,190 | 25 | ||
| Special lines | 6,520 | 5,969 | 9 | ||
| Property | 3,517 | 3,096 | 14 | ||
| Total Personal Lines | 33,811 | 28,591 | 18 | ||
| Commercial Lines | 1,141 | 1,099 | 4 | ||
| Companywide | 34,952 | 29,690 | 18 | ||
See Progressive’s complete monthly earnings release for additional information.
About Progressive
Progressive Insurance® makes it easy to understand, buy and use car insurance, home insurance, and other protection needs. Progressive offers choices so consumers can reach us however it’s most convenient for them — online at progressive.com, by phone at 1-800-PROGRESSIVE, via the Progressive mobile app, or in-person with a local agent.
Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes; it is the second largest personal auto insurer in the country, a leading seller of commercial auto, motorcycle, and boat insurance, and 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:
Douglas S. Constantine
(440) 395-3707
investor_relations@progressive.com
The Progressive Corporation
300 North Commons Blvd.
Mayfield Village, Ohio 44143
http://www.progressive.com
Download PDF: Progressive December 2024 Complete Earnings Release
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