Five-Year Financial Highlights
(billions — except per share amounts)
| Three Months Ended March 31, |
Years Ended December 31, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2017 | 2016 | 2016 | 2015 | 2014 | 2013 | |||||||
| Net premiums written | $ | 6.5 | $ | 5.8 | $ | 23.4 | $ | 20.6 | $ | 18.7 | $ | 17.3 |
| Growth over prior period | 12% | 15% | 14% | 10% | 8% | 6% | ||||||
| Net premiums earned | $ | 6.0 | $ | 5.3 | $ | 22.5 | $ | 19.9 | $ | 18.4 | $ | 17.1 |
| Growth over prior period | 13% | 14% | 13% | 8% | 8% | 7% | ||||||
| Total revenues | $ | 6.3 | $ | 5.6 | $ | 23.4 | $ | 20.9 | $ | 19.4 | $ | 18.2 |
| Net income attributable to Progressive | $ | 0.42 | $ | 0.26 | $ | 1.03 | $ | 1.27 | $ | 1.28 | $ | 1.17 |
| Per share | $ | 0.73 | $ | 0.44 | $ | 1.76 | $ | 2.15 | $ | 2.15 | $ | 1.93 |
| Underwriting margin | 8.3% | 5.4% | 4.9% | 7.5% | 7.7% | 6.5% | ||||||
(billions — except shares outstanding, per share amounts, and policies in force)
| Three Months Ended March 31, |
Years Ended December 31, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2017 | 2016 | 2016 | 2015 | 2014 | 2013 | |||||||
| At Period-End | ||||||||||||
| Common shares outstanding (millions) | 580.9 | 583.0 | 579.9 | 583.6 | 587.8 | 595.8 | ||||||
| Book value per share | $ | 14.67 | $ | 12.97 | $ | 13.72 | $ | 12.49 | $ | 11.79 | $ | 10.39 |
| Consolidated shareholders’ equity | $ | 8.5 | $ | 7.6 | $ | 8.0 | $ | 7.3 | $ | 6.9 | $ | 6.2 |
| Market capitalization | $ | 22.8 | $ | 20.5 | $ | 20.6 | $ | 18.6 | $ | 15.9 | $ | 16.2 |
| Return on average shareholders’ equity | ||||||||||||
| Net income attributable to Progressive | 14.9% | 16.5% | 13.2% | 17.2% | 19.1% | 17.7% | ||||||
| Comprehensive income attributable to Progressive | 17.4% | 14.1% | 14.9% | 14.2% | 20.1% | 19.0% | ||||||
| Policies in force (thousands) | ||||||||||||
| Vehicle businesses: | ||||||||||||
| Personal Lines | ||||||||||||
| Agency – auto | 5,228.3 | 4,865.4 | 5,045.4 | 4,737.1 | 4,725.5 | 4,841.9 | ||||||
| Direct – auto | 5,570.7 | 5,175.4 | 5,348.3 | 4,916.2 | 4,505.5 | 4,224.2 | ||||||
| Special lines | 4,255.4 | 4,145.0 | 4,263.1 | 4,111.4 | 4,030.9 | 3,990.3 | ||||||
| Total Personal Lines | 15,054.4 | 14,185.8 | 14,656.8 | 13,764.7 | 13,261.9 | 13,056.4 | ||||||
| Growth over prior year | 6% | 5% | 6% | 4% | 2% | 3% | ||||||
| Commercial Lines | 607.5 | 575.1 | 607.9 | 555.8 | 514.7 | 514.6 | ||||||
| Growth over prior year | 6% | 10% | 9% | 8% | 0% | (1)% | ||||||
| Property1 | 1,265.3 | 1,078.5 | 1,201.9 | 1,076.5 | ||||||| | ||||||| | ||||||
| Growth over prior year | 17% | NM | 12% | NM | ||||||| | ||||||| | ||||||
| Private passenger auto insurance market2 | NA | NA | NA | $ | 192.5 | $ | 183.5 | $ | 174.9 | |||
| Market share3 | NA | NA | NA | 9.0% | 8.9% | 8.7% | ||||||
| Three Months Ended March 31, |
Years Ended December 31, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2017 | 2016 | 2016 | 2015 | 2014 | 2013 | |||||||
| Stock Price Appreciation4 | ||||||||||||
| Progressive | 12.3% | 13.6% | 14.7% | 20.9% | 5.3% | 30.9% | ||||||
| S&P 500 | 6.1% | 1.3% | 11.9% | 1.4% | 13.7% | 32.4% | ||||||
NM = Not meaningful; Property business written by Progressive prior to April 2015 was negligible.
NA = Final comparable industry data will not be available until our third quarter report.
1Increase from March 31, 2016, primarily reflects the net addition of approximately 96,000 policies, as a result of an exchange transaction ARX entered into during the second quarter of 2016.
2Represents net premiums written as reported by A.M. Best Company, Inc.
3Represents Progressive’s private passenger auto business, including motorcycle insurance, as a percent of the private passenger auto insurance market.
4Represents average annual compounded rate of increase and assumes dividend reinvestment.