Progressive Reports February 2024 Results

MAYFIELD VILLAGE, OHIO, March 15, 2024 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month ended February 29, 2024:

	February
(millions, except per share amounts and ratios; unaudited)	2024
Net premiums written	$	5,720.5
Net premiums earned	$	5,129.1
Net income	$	737.1
Per share available to common shareholders	$	1.24
Total pretax net realized gains (losses) on securities	$	80.7
Combined ratio – current year		86.8
– prior year		95.1
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.

	February
(thousands; unaudited)	2024		2023		% Change
Policies in Force
Personal Lines
Agency – auto	8,461.9		8,039.7		5
Direct – auto	11,541.3		10,737.3		7
Total personal auto	20,003.2		18,777.0		7
Total special lines	6,018.9		5,603.4		7
Total Personal Lines	26,022.1		24,380.4		7
Total Commercial Lines	1,097.7		1,060.2		4
Total Property business	3,163.6		2,885.4		10
Companywide Total	30,283.4		28,326.0		7