Five-Year Financial Highlights
(billions — except per share amounts)
| Nine Months Ended September 30, |
Years Ended December 31, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2017 | 2016 | 2016 | 2015 | 2014 | 2013 | |||||||
| Net premiums written | $ | 20.4 | $ | 17.8 | $ | 23.4 | $ | 20.6 | $ | 18.7 | $ | 17.3 |
| Growth over prior period | 14% | 13% | 14% | 10% | 8% | 6% | ||||||
| Net premiums earned | $ | 18.9 | $ | 16.6 | $ | 22.5 | $ | 19.9 | $ | 18.4 | $ | 17.1 |
| Growth over prior period | 14% | 13% | 13% | 8% | 8% | 7% | ||||||
| Total revenues | $ | 19.7 | $ | 17.3 | $ | 23.4 | $ | 20.9 | $ | 19.4 | $ | 18.2 |
| Net income attributable to Progressive | $ | 1.02 | $ | 0.65 | $ | 1.03 | $ | 1.27 | $ | 1.28 | $ | 1.17 |
| Per share | $ | 1.73 | $ | 1.11 | $ | 1.76 | $ | 2.15 | $ | 2.15 | $ | 1.93 |
| Underwriting margin | 5.8% | 4.0% | 4.9% | 7.5% | 7.7% | 6.5% | ||||||
(billions — except shares outstanding, per share amounts, and policies in force)
| Nine Months Ended September 30, |
Years Ended December 31, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2017 | 2016 | 2016 | 2015 | 2014 | 2013 | |||||||
| At Period-End | ||||||||||||
| Common shares outstanding (millions) | 581.6 | 580.8 | 579.9 | 583.6 | 587.8 | 595.8 | ||||||
| Book value per share | $ | 15.97 | $ | 13.94 | $ | 13.72 | $ | 12.49 | $ | 11.79 | $ | 10.39 |
| Consolidated shareholders’ equity | $ | 9.3 | $ | 8.1 | $ | 8.0 | $ | 7.3 | $ | 6.9 | $ | 6.2 |
| Market capitalization | $ | 28.2 | $ | 18.3 | $ | 20.6 | $ | 18.6 | $ | 15.9 | $ | 16.2 |
| Return on average shareholders’ equity | ||||||||||||
| Net income attributable to Progressive | 16.3% | 12.8% | 13.2% | 17.2% | 19.1% | 17.7% | ||||||
| Comprehensive income attributable to Progressive | 18.4% | 16.4% | 14.9% | 14.2% | 20.1% | 19.0% | ||||||
| Policies in force (thousands) | ||||||||||||
| Vehicle businesses: | ||||||||||||
| Personal Lines | ||||||||||||
| Agency – auto | 5,515.3 | 4,980.1 | 5,045.4 | 4,737.1 | 4,725.5 | 4,841.9 | ||||||
| Direct – auto | 5,889.6 | 5,324.0 | 5,348.3 | 4,916.2 | 4,505.5 | 4,224.2 | ||||||
| Special lines | 4,396.1 | 4,291.1 | 4,263.1 | 4,111.4 | 4,030.9 | 3,990.3 | ||||||
| Total Personal Lines | 15,801.0 | 14,595.2 | 14,656.8 | 13,764.7 | 13,261.9 | 13,056.4 | ||||||
| Growth over prior year | 8% | 6% | 6% | 4% | 2% | 3% | ||||||
| Commercial Lines | 638.6 | 612.7 | 607.9 | 555.8 | 514.7 | 514.6 | ||||||
| Growth over prior year | 4% | 12% | 9% | 8% | 0% | (1)% | ||||||
| Property | 1,375.6 | 1,184.7 | 1,201.9 | 1,076.5 | ||||||| | ||||||| | ||||||
| Growth over prior year | 16% | 11% | 12% | NM | ||||||| | ||||||| | ||||||
| Private passenger auto insurance market1 | NA | NA | $ | 206.6 | $ | 192.8 | $ | 183.5 | $ | 174.9 | ||
| Market share2 | NA | NA | 9.4% | 9.0% | 8.9% | 8.7% | ||||||
| Nine Months Ended September 30, |
Years Ended December 31, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2017 | 2016 | 2016 | 2015 | 2014 | 2013 | |||||||
| Stock Price Appreciation3 | ||||||||||||
| Progressive | 38.8% | 1.8% | 14.7% | 20.9% | 5.3% | 30.9% | ||||||
| S&P 500 | 14.2% | 7.8% | 11.9% | 1.4% | 13.7% | 32.4% | ||||||
NM = Not meaningful; Property business written by Progressive prior to April 2015 was negligible.
NA = Not available.
1Represents net premiums written as reported by A.M. Best Company, Inc.
2Represents Progressive’s private passenger auto business, including motorcycle insurance, as a percent of the private passenger auto insurance market.
3Represents average annual compounded rate of increase and assumes dividend reinvestment.