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Progressive Reports February 2023 Results


MAYFIELD VILLAGE, OHIO, March 15, 2023 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for February 2023:

(millions, except per share amounts and ratios; unaudited) 2023 2022 Change
Net premiums written $ 6,057.8 $ 4,625.7 31 %
Net premiums earned $ 4,166.6 $ 3,626.1 15 %
Net income $ 150.3 $ 61.6 144 %
Per share available to common shareholders $ 0.25 $ 0.10 149 %
Total pretax net realized gains (losses) on securities $ (117.1 ) $ (209.4 ) (44)%
Combined ratio 95.1 93.7 1.4 pts.
Average diluted equivalent common shares 587.0 586.3 0 %

(thousands; unaudited) 2023 2022 Change
Policies in Force
Personal Lines
Agency – auto 8,039.7 7,805.6 3 %
Direct – auto 10,737.3 9,558.8 12 %
Total personal auto 18,777.0 17,364.4 8 %
Total special lines 5,603.4 5,318.0 5 %
Total Personal Lines 24,380.4 22,682.4 7 %
Total Commercial Lines 1,060.2 989.2 7 %
Total Property business 2,885.4 2,790.3 3 %
Companywide Total 28,326.0 26,461.9 7 %

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 February 2023 Complete Earnings Release: Download PDF

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