Five -Year Financial Highlights
| Nine Months Ended September 30, |
Years Ended December 31, | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2018 | 2017 | 2017 | 2016 | 2015 | 2014 | |||||||
(billions — except per share amounts) |
||||||||||||
| Net premiums written | $ | 24.7 | $ | 20.4 | $ | 27.1 | $ | 23.4 | $ | 20.6 | $ | 18.7 |
| Growth over prior period | 21% | 14% | 16% | 14% | 10% | 8% | ||||||
| Net premiums earned | $ | 22.7 | $ | 18.9 | $ | 25.7 | $ | 22.5 | $ | 19.9 | $ | 18.4 |
| Growth over prior period | 20% | 14% | 14% | 13% | 8% | 8% | ||||||
| Total revenues | $ | 23.9 | $ | 19.7 | $ | 26.8 | $ | 23.4 | $ | 20.9 | $ | 19.4 |
| Net income attributable to Progressive | $ | 2.35 | $ | 1.02 | $ | 1.59 | $ | 1.03 | $ | 1.27 | $ | 1.28 |
| Per common share | $ | 3.98 | $ | 1.73 | $ | 2.72 | $ | 1.76 | $ | 2.15 | $ | 2.15 |
| Underwriting margin | 10.1% | 5.8% | 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) | 583.1 | 581.6 | 581.7 | 579.9 | 583.6 | 587.8 | ||||||
| Book value per common share | $ | 19.49 | $ | 15.97 | $ | 15.96 | $ | 13.72 | $ | 12.49 | $ | 11.79 |
| Consolidated shareholders’ equity | $ | 11.9 | $ | 9.3 | $ | 9.3 | $ | 8.0 | $ | 7.3 | $ | 6.9 |
| Market capitalization | $ | 41.4 | $ | 28.2 | $ | 32.8 | $ | 20.6 | $ | 18.6 | $ | 15.9 |
| Return on average common shareholders’ equity | ||||||||||||
| Net income attributable to Progressive | 28.9% | 16.3% | 17.8% | 13.2% | 17.2% | 19.1% | ||||||
| Comprehensive income attributable to Progressive | 27.1% | 18.4% | 21.7% | 14.9% | 14.2% | 20.1% | ||||||
| Policies in force (thousands) | ||||||||||||
| Vehicle businesses: | ||||||||||||
| Personal Lines | ||||||||||||
| Agency — auto | 6,249.3 | 5,515.3 | 5,670.7 | 5,045.4 | 4,737.1 | 4,725.5 | ||||||
| Direct — auto | 6,875.8 | 5,889.6 | 6,039.1 | 5,348.3 | 4,916.2 | 4,505.5 | ||||||
| Special lines | 4,418.9 | 4,396.1 | 4,365.7 | 4,263.1 | 4,111.4 | 4,030.9 | ||||||
| Total Personal Lines | 17,544.0 | 15,801.0 | 16,075.5 | 14,656.8 | 13,764.7 | 13,261.9 | ||||||
| Growth over prior year | 11% | 8% | 10% | 6% | 4% | 2% | ||||||
| Commercial Lines | 691.9 | 638.6 | 646.8 | 607.9 | 555.8 | 514.7 | ||||||
| Growth over prior year | 8% | 4% | 6% | 9% | 8% | 0% | ||||||
| Property | 1,867.0 | 1,375.6 | 1,461.7 | 1,201.9 | 1,076.5 | ||||||| | ||||||
| Growth over prior year | 36% | 16% | 22% | 12% | NM | ||||||| | ||||||
| Private passenger auto insurance market1 | NA | NA | $ | 222.2 | $ | 206.6 | $ | 192.8 | $ | 183.5 | ||
| Market share2 | NA | NA | 10.1% | 9.4% | 9.0% | 8.9% | ||||||
| Stock Price Appreciation3 | ||||||||||||
| Progressive | 28.8% | 38.8% | 61.6% | 14.7% | 20.9% | 5.3% | ||||||
| S&P 500 | 10.6% | 14.2% | 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.
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.
