Five-Year Financial Highlights
| Nine Months Ended September 30, | Years Ended December 31, | |||||
|---|---|---|---|---|---|---|
| 2019 | 2018 | 2018 | 2017 | 2016 | 2015 | |
| (billions — except per share amounts) | ||||||
| Net premiums written | $28.0 | $24.7 | $32.6 | $27.1 | $23.4 | $20.6 |
| Growth over prior period | 13% | 21% | 20% | 16% | 14% | 10% |
| Net premiums earned | $26.3 | $22.7 | $30.9 | $25.7 | $22.5 | $19.9 |
| Growth over prior period | 16% | 20% | 20% | 14% | 13% | 8% |
| Total revenues | $28.3 | $23.9 | $32.0 | $26.8 | $23.4 | $20.9 |
| Net income attributable to Progressive | $2.90 | $2.35 | $2.62 | $1.59 | $1.03 | $1.27 |
| Per common share | $4.90 | $3.98 | $4.42 | $2.72 | $1.76 | $2.15 |
| Underwriting margin | 9.6% | 10.1% | 9.4% | 6.6% | 4.9% | 7.5% |
| At Period-End (billions — except shares outstanding, per share amounts, and policies in force) |
||||||
| Common shares outstanding (millions) | 584.6 | 583.1 | 583.2 | 581.7 | 579.9 | 583.6 |
| Book value per common share | $23.31 | $19.49 | $17.71 | $15.96 | $13.72 | $12.49 |
| Consolidated shareholders’ equity | $14.1 | $11.9 | $10.8 | $9.3 | $8.0 | $7.3 |
| Common share close price | $77.25 | $71.04 | $60.33 | $56.32 | $35.50 | $31.80 |
| Market capitalization | $45.2 | $41.4 | $35.2 | $32.8 | $20.6 | $18.6 |
| Return on average common shareholders’ equity | ||||||
| Net income attributable to Progressive | 26.3% | 28.9% | 24.7% | 17.8% | 13.2% | 17.2% |
| Comprehensive income attributable to Progressive | 32.7% | 27.1% | 23.8% | 21.7% | 14.9% | 14.2% |
| Policies in force (thousands) | ||||||
| Personal Lines | ||||||
| Agency – auto | 6,903.8 | 6,249.3 | 6,358.3 | 5,670.7 | 5,045.4 | 4,737.1 |
| Direct – auto | 7,716.0 | 6,875.8 | 7,018.5 | 6,039.1 | 5,348.3 | 4,916.2 |
| Special lines | 4,567.6 | 4,418.9 | 4,382.2 | 4,365.7 | 4,263.1 | 4,111.4 |
| Total Personal Lines | 19,187.4 | 17,544.0 | 17,759.0 | 16,075.5 | 14,656.8 | 13,764.7 |
| Growth over prior year | 9% | 11% | 10% | 10% | 6% | 4% |
| Commercial Lines | 748.7 | 691.9 | 696.9 | 646.8 | 607.9 | 555.8 |
| Growth over prior year | 8% | 8% | 8% | 6% | 9% | 8% |
| Property | 2,144.3 | 1,867.0 | 1,936.5 | 1,461.7 | 1,201.9 | 1,076.5 |
| Growth over prior year | 15% | 36% | 32% | 22% | 12% | NM |
| Companywide total | 22,080.4 | 20,102.9 | 20,392.4 | 18,184.0 | 16,466.6 | 15,397.0 |
| Growth over prior year | 10% | 13% | 12% | 10% | 7% | 12% |
| Private passenger auto insurance market1 | NA | NA | $240.7 | $222.3 | $206.6 | $192.8 |
| Market share2 | NA | NA | 11.1% | 10.1% | 9.4% | 9.0% |
| Stock Price Appreciation (Depreciation)3 | ||||||
| Progressive | 33.3% | 28.8% | 9.3% | 61.6% | 14.7% | 20.9% |
| S&P 500 | 20.6% | 10.6% | (4.4)% | 21.9% | 11.9% | 1.4% |
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 compounded rate of increase (decrease) and assumes dividend reinvestment.