trending Market Intelligence /marketintelligence/en/news-insights/trending/PbuI6bnIAZ4KHs42iC489w2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Progressive February income rises YOY

Infrastructure Issues: Tools to Dig Deep on Potential Risks

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report

Fintech

Fintech Funding Flows To Insurtech In February


Progressive February income rises YOY

Progressive Corp. reported net income attributable to the company of $327.6 million, or 55 cents per share, in February, up from $129.1 million, or 22 cents per share, a year ago.

Net premiums written increased 15% to $3.11 billion from $2.70 billion in February 2018. Net premiums earned rose 18% year over year to $2.60 billion from $2.20 billion.

The company logged pretax net realized gains on securities of $109.9 million, compared to a $139.6 million loss a year earlier.

Total personal lines policies in force went up 10% to approximately 18.1 million from about 16.4 million in February 2018. Personal auto policies in force climbed 13% to about 13.7 million from 12.1 million.

Direct auto policies in force increased 14% year over year to about 7.2 million from approximately 6.3 million. Property business policies in force rose 23% to about 2 million from 1.6 million.

The combined ratio was 90.9% in February, versus 87.8% a year ago.