Progressive Reports May 2023 Results

MAYFIELD VILLAGE, OHIO, June 14, 2023 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for May 2023:

(millions, except per share amounts and ratios; unaudited) 2023   2022  Change
Net premiums written$4,321.4  $3,724.3  16 %
Net premiums earned$4,490.4  $3,763.6  19 %
Net income$108.2  $92.1  17 %
Per share available to common shareholders$0.18  $0.15  17 %
Total pretax net realized gains (losses) on securities$(35.3) $(89.0) (60)%
Combined ratio 99.0   96.5  2.5 pts.
Average equivalent common shares 587.0   586.4  0 %

(thousands; unaudited)
2023  2022  Change
Policies in Force       
Personal Lines       
Agency – auto8,423.2  7,658.9  10 %
Direct – auto11,243.3  9,541.1  18 %
Total personal auto19,666.5  17,200.0  14 %
Total special lines5,787.0  5,440.8  6 %
Total Personal Lines25,453.5  22,640.8  12 %
Total Commercial Lines1,095.3  1,019.3  7 %
Total Property business2,957.5  2,818.7  5 %
Companywide Total29,506.3  26,478.8  11 %

See Progressive’s complete monthly earnings release, including the “Monthly Commentary,” 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, 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 one of the leading sellers of personal and commercial auto, motorcycle, and boat insurance in the country, 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

The Progressive Corporation
6300 Wilson Mills Road
Mayfield Village, Ohio 44143

Progressive May 2023 Complete Earnings Release: Download PDF

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