We write personal auto and other specialty property-casualty insurance and provide related services throughout the United States. Our Personal Lines segment writes insurance for personal autos and recreational vehicles. Our Commercial Lines segment writes primarily liability and physical damage insurance for automobiles and trucks owned and/or operated predominantly by small businesses in the business auto, for-hire transportation, contractor, for-hire specialty, tow, and for-hire livery markets. We distribute our Personal and Commercial Lines products through both the Agency and Direct channels.
Personal Lines |
Three Months Ended March 31, |
|||||
---|---|---|---|---|---|---|
2016 | 2015 | Change | ||||
Net premiums written (billions) | $ | 4.99 | $ | 4.54 | 10% | |
Net premiums earned (billions) | $ | 4.57 | $ | 4.20 | 9% | |
Loss and loss adjustment expense ratio | 74.3 | 73.4 | 0.9 pts. | |||
Underwriting expense ratio | 20.2 | 20.3 | (0.1 ) pts. | |||
Combined ratio | 94.5 | 93.7 | 0.8 pts. | |||
Policies in force (thousands) | 14,185.8 | 13,492.3 | 5% |
Commercial Lines |
Three Months Ended March 31, |
|||||
---|---|---|---|---|---|---|
2016 | 2015 | Change | ||||
Net premiums written (billions) | $ | 0.66 | $ | 0.53 | 25% | |
Net premiums earned (billions) | $ | 0.55 | $ | 0.47 | 18% | |
Loss and loss adjustment expense ratio | 66.4 | 61.0 | 5.4 pts. | |||
Underwriting expense ratio | 22.5 | 22.2 | 0.3 pts. | |||
Combined ratio | 88.9 | 83.2 | 5.7 pts. | |||
Policies in force (thousands) | 575.1 | 522.6 | 10% |
Property |
Three Months Ended March 31, |
|||||
---|---|---|---|---|---|---|
2016 | 2015 | Change | ||||
Net premiums written (billions) | $ | 0.17 | $ | |||||||| | |||||||| | |
Net premiums earned (billions) | $ | 0.20 | $ | |||||||| | |||||||| | |
Loss and loss adjustment expense ratio | 77.9 | |||||||| | |||||||| | |||
Underwriting expense ratio | 34.3 | |||||||| | |||||||| | |||
Combined ratio | 112.2 | |||||||| | |||||||| | |||
Policies in force (thousands) | 1,078.5 | |||||||| | |||||||| |
Progressive acquired a controlling interest in ARX Holding Corp. in April 2015 and began separately reporting results for its Property business at that time. The combined ratio includes 22.7 points in catastrophe losses and 7.6 points of amortization/depreciation expense associated with the ARX acquisition.