Five -Year Financial Highlights
| Six Months Ended June 30, |
Years Ended December 31, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2018 | 2017 | 2017 | 2016 | 2015 | 2014 | |||||||
(billions — except per share amounts) |
||||||||||||
| Net premiums written | $ | 16.1 | $ | 13.2 | $ | 27.1 | $ | 23.4 | $ | 20.6 | $ | 18.7 |
| Growth over prior period | 21% | 13% | 16% | 14% | 10% | 8% | ||||||
| Net premiums earned | $ | 14.8 | $ | 12.3 | $ | 25.7 | $ | 22.5 | $ | 19.9 | $ | 18.4 |
| Growth over prior period | 20% | 13% | 14% | 13% | 8% | 8% | ||||||
| Total revenues | $ | 15.4 | $ | 12.9 | $ | 26.8 | $ | 23.4 | $ | 20.9 | $ | 19.4 |
| Net income attributable to Progressive | $ | 1.42 | $ | 0.79 | $ | 1.59 | $ | 1.03 | $ | 1.27 | $ | 1.28 |
| Per common share | $ | 2.42 | $ | 1.36 | $ | 2.72 | $ | 1.76 | $ | 2.15 | $ | 2.15 |
| Underwriting margin | 10.3% | 7.5% | 6.6% | 4.9% | 7.5% | 7.7% | ||||||
| At Period-End (billions — except shares outstanding, per share amounts, and policies in force) |
||||||||||||
| Common shares outstanding (millions) | 582.5 | 581.0 | 581.7 | 579.9 | 583.6 | 587.8 | ||||||
| Book value per common share | $ | 18.04 | $ | 15.48 | $ | 15.96 | $ | 13.72 | $ | 12.49 | $ | 11.79 |
| Consolidated shareholders’ equity | $ | 11.0 | $ | 9.0 | $ | 9.3 | $ | 8.0 | $ | 7.3 | $ | 6.9 |
| Market capitalization | $ | 34.5 | $ | 25.6 | $ | 32.8 | $ | 20.6 | $ | 18.6 | $ | 15.9 |
| Return on average common shareholders’ equity | ||||||||||||
| Net income attributable to Progressive | 23.0% | 16.6% | 17.8% | 13.2% | 17.2% | 19.1% | ||||||
| Comprehensive income attributable to Progressive | 22.3% | 18.9% | 21.7% | 14.9% | 14.2% | 20.1% | ||||||
| Policies in force (thousands) | ||||||||||||
| Vehicle businesses: | ||||||||||||
| Personal Lines | ||||||||||||
| Agency — auto | 6,107.4 | 5,350.3 | 5,670.7 | 5,045.4 | 4,737.1 | 4,725.5 | ||||||
| Direct — auto | 6,650.9 | 5,692.6 | 6,039.1 | 5,348.3 | 4,916.2 | 4,505.5 | ||||||
| Special lines | 4,387.4 | 4,356.3 | 4,365.7 | 4,263.1 | 4,111.4 | 4,030.9 | ||||||
| Total Personal Lines | 17,145.7 | 15,399.2 | 16,075.5 | 14,656.8 | 13,764.7 | 13,261.9 | ||||||
| Growth over prior year | 11% | 6% | 10% | 6% | 4% | 2% | ||||||
| Commercial Lines | 678.9 | 625.7 | 646.8 | 607.9 | 555.8 | 514.7 | ||||||
| Growth over prior year | 9% | 4% | 6% | 9% | 8% | 0% | ||||||
| Property | 1,766.6 | 1,311.1 | 1,461.7 | 1,201.9 | 1,076.5 | ||||||| | ||||||
| Growth over prior year | 35% | 11% | 22% | 12% | NM | ||||||| | ||||||
| Private passenger auto insurance market1 | NA | NA | NA | $ | 206.6 | $ | 192.8 | $ | 183.5 | |||
| Market share2 | NA | NA | NA | 9.4% | 9.0% | 8.9% | ||||||
| Stock Price Appreciation3 | ||||||||||||
| Progressive | 7.2% | 26.4% | 61.6% | 14.7% | 20.9% | 5.3% | ||||||
| S&P 500 | 2.6% | 9.3% | 21.9% | 11.9% | 1.4% | 13.7% | ||||||
NM = Not meaningful; Property business written by Progressive prior to April 2015 was negligible.
NA = Not available; Final comparable industry data for year-end 2017 will not be available until our third quarter report.
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.
