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Progressive Reports November 2020 Results

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The Progressive Corporation (NYSE:PGR) reported strong financial results for November 2020, showcasing a significant year-over-year growth in key metrics. Net premiums written reached $2,957.9 million, marking a 14% increase from $2,596.1 million in 2019. Net premiums earned also rose by 11% to $3,150.8 million. The net income attributable to Progressive surged to $739.8 million, up 142% from $306.1 million in the previous year. Additionally, the per share earnings rose to $1.26, reflecting strong financial health.

Positive
  • Net premiums written increased by $361.8 million (14%) compared to November 2019.
  • Net premiums earned rose by $305 million (11%) from the prior year.
  • Net income attributable to Progressive surged to $739.8 million, a 142% increase year-over-year.
  • Earnings per share available to common shareholders increased to $1.26, up from $0.52.
Negative
  • None.

MAYFIELD VILLAGE, OHIO, Dec. 18, 2020 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for November 2020: 

 November
(millions, except per share amounts and ratios; unaudited)

2020 2019 Change
     
Net premiums written$2,957.9  $2,596.1  14%
Net premiums earned$3,150.8  $2,845.8  11%
Net income attributable to Progressive$739.8  $306.1  142%
Per share available to common shareholders$1.26  $0.52  142%
Total pretax net realized gains (losses) on securities$459.6  $150.3  206%
Combined ratio 86.6   94.1   { "@context": "https://schema.org", "@type": "FAQPage", "name": "Progressive Reports November 2020 Results FAQs", "mainEntity": [ { "@type": "Question", "name": "What were the net premiums written for Progressive in November 2020?", "acceptedAnswer": { "@type": "Answer", "text": "The net premiums written for Progressive in November 2020 were $2,957.9 million." } }, { "@type": "Question", "name": "How much did Progressive's net income increase in November 2020?", "acceptedAnswer": { "@type": "Answer", "text": "Progressive's net income attributable to the company increased by 142%, totaling $739.8 million in November 2020." } }, { "@type": "Question", "name": "What was Progressive's earnings per share for November 2020?", "acceptedAnswer": { "@type": "Answer", "text": "Progressive reported earnings per share of $1.26 for November 2020." } }, { "@type": "Question", "name": "How did the net premiums earned change for Progressive in November 2020?", "acceptedAnswer": { "@type": "Answer", "text": "Net premiums earned by Progressive increased to $3,150.8 million, an 11% rise compared to November 2019." } } ] }

FAQ

What were the net premiums written for Progressive in November 2020?

The net premiums written for Progressive in November 2020 were $2,957.9 million.

How much did Progressive's net income increase in November 2020?

Progressive's net income attributable to the company increased by 142%, totaling $739.8 million in November 2020.

What was Progressive's earnings per share for November 2020?

Progressive reported earnings per share of $1.26 for November 2020.

How did the net premiums earned change for Progressive in November 2020?

Net premiums earned by Progressive increased to $3,150.8 million, an 11% rise compared to November 2019.

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Insurance - Property & Casualty
Fire, Marine & Casualty Insurance
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MAYFIELD VILLAGE