Progressive's (PGR) February earnings reflect solid policies in force, higher premium and improved investment income, partly offset by higher expenses.
MAYFIELD VILLAGE, OHIO, March 15, 2023 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for February 2023: February(millions, except per share amounts and ratios; unaudited) 2023 2022 ChangeNet 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 9
A compelling portfolio, leadership position, strength in Vehicle and Property businesses, healthy policies in force, retention and solid capital position continue to drive Progressive (PGR).