Progressive Corp. (PGR) Net Premiums Earned Rose 13% in August 2016

September 15, 2016 8:35 AM EDT

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Progressive Corp. (NYSE: PGR) reported the following results for August 2016:

(millions, except per share amounts and ratios; unaudited)August August Change
2016 2015
Net premiums written$1,910.7 $1,678.1 14 %
Net premiums earned$1,767.9 $1,565.9 13 %
Net income attributable to Progressive$49.3 $101.5 (51) %
Per share$0.08 $0.17 (51) %
Total pretax net realized gains (losses) on securities
(including net impairment losses)$(29.3) $5.3 (653) %
Combined ratio 97.9 92.1 5.8 pts.
Average diluted equivalent shares 584.8 589.3 (1) %

(thousands; unaudited)August August
20162015Change
Policies in Force
Vehicle businesses:
Agency - auto4,971.4 4,736.1 5 %
Direct - auto5,326.7 4,785.4 11 %
Total personal auto10,298.1 9,521.5 8 %
Total special lines4,292.0 4,154.6 3 %
Total Personal Lines14,590.1 13,676.1 7 %
Total Commercial Lines610.7 546.9 12 %
Property business1,180.9 1,064.8 11 %


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