Progressive Reports January 2024 Results

MAYFIELD VILLAGE, OHIO, Feb. 14, 2024 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month ended January 31, 2024:

	January
(millions, except per share amounts and ratios; unaudited)	2024
Net premiums written	$	5,495.7
Net premiums earned	$	5,386.0
Net income	$	700.7
Per share available to common shareholders	$	1.18
Total pretax net realized gains (losses) on securities	$	16.6
Combined ratio – current year		87.3
– prior year		96.0
Average diluted equivalent common shares		587.3

In October 2023, we converted our monthly accounting closing calendar to align with the Gregorian calendar. We do not expect that this change will have a material impact on our reported quarterly and annual underwriting results but it may impact our year-over-year comparisons on monthly results from October 2023 through September 2024. Therefore, during this time period, we have modified and limited the content of the earnings release, compared to our historical reporting. Click here for further discussion on the closing calendar conversion in the October 2023 release, issued November 17, 2023.

	January 31,
(thousands; unaudited)	2024		2023		% Change
Policies in Force
Personal Lines
Agency – auto	8,393.3		7,902.2		6
Direct – auto	11,350.0		10,430.6		9
Total personal auto	19,743.3		18,332.8		8
Total special lines	5,984.4		5,572.9		7
Total Personal Lines	25,727.7		23,905.7		8
Total Commercial Lines	1,095.8		1,053.3		4
Total Property business	3,127.9		2,865.0		9
Companywide Total	29,951.4		27,824.0		8

See Progressive’s complete monthly earnings release for additional information.