Progressive Corp. (PGR) Net Income Rose 23% in April
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Price: $213.00 --0%
EPS Growth %: -100.0%
Financial Fact:
Other underwriting expenses: 739.6M
Today's EPS Names:
SFST, VLTO, CLIR, More
EPS Growth %: -100.0%
Financial Fact:
Other underwriting expenses: 739.6M
Today's EPS Names:
SFST, VLTO, CLIR, More
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Progressive Corp. (NYSE: PGR) reported the following results for April 2015:
| (millions, except per share amounts and ratios; unaudited) | April | April | Change | ||||
| 2015 | 2014 | ||||||
| Net premiums written | $ | 2,062.7 | $ | 1,877.2 | 10 % | ||
| Net premiums earned | $ | 1,899.9 | $ | 1,731.6 | 10 % | ||
| Net income available to Progressive | $ | 189.3 | $ | 155.8 | 22 % | ||
| Per share | $ | 0.32 | $ | 0.26 | 23 % | ||
| Total pretax net realized gains (losses) on securities | |||||||
| (including net impairment losses) | $ | 25.0 | $ | 17.5 | 43 % | ||
| Combined ratio | 88.9 | 88.4 | 0.5 pts. | ||||
| Average diluted equivalent shares | 590.1 | 596.1 | (1) % | ||||
We acquired a controlling interest in ARX Holding Corp. (ARX), parent company of American Strategic Insurance (ASI) and subsidiaries, on April 1, 2015. Therefore, our April 2015 companywide results include, for the first time, the results of ARX and its subsidiaries, which are included in the "Property business" throughout the release. Periods prior to April 1, 2015, do not include ARX's results.
| (thousands; unaudited) | April | April | |||||
| 2015 | 2014 | Change | |||||
| Policies in Force | |||||||
| Vehicles: | |||||||
| Agency - auto | 4,767.1 | 4,904.2 | (3) % | ||||
| Direct - auto | 4,706.1 | 4,410.1 | 7 % | ||||
| Total personal auto | 9,473.2 | 9,314.3 | 2 % | ||||
| Total special lines | 4,081.9 | 4,011.9 | 2 % | ||||
| Total Personal Lines | 13,555.1 | 13,326.2 | 2 % | ||||
| Total Commercial Lines | 529.7 | 512.4 | 3 % | ||||
| Property business | 1,042.6 | -- | NM | ||||
NM = Not meaningful; Property business written by Progressive prior to April 2015 was negligible.
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