Progressive Corp (N:PGR)

Sector:  Financials Industry:  Property & Casualty Insurance
 
See Regulatory Filings on SEC
Company Contact
Address: 6300 Wilson Mills Rd
MAYFIELD VILLAGE OH 44143
Tel: N/A
Website: https://www.progressive.com
IR: See website
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Key People
Susan Patricia Griffith
President, Chief Executive Officer, Director 		Steven A. Broz
Chief Information Officer 		John Peter Sauerland
Chief Financial Officer, Vice President
Karen B. Bailo
President - Commercial Lines 		Patrick K. Callahan
President - Personal Lines 		John Murphy
Claims President
Lori Niederst
Customer Relationship Management President 		William L. Clawson
Chief Human Resource Officer 		Mariann Wojtkun Marshall
Chief Accounting Officer, Vice President
Jonathan S. Bauer
Chief Investment Officer 		   
Business Overview
The Progressive Corporation is an insurance holding company, which has insurance and non-insurance subsidiaries and affiliates. The Company's segments include Personal Lines, Commercial Lines, Property and Other indemnity. The Personal Lines segment writes insurance for personal autos and recreational vehicles. The segment consists of personal auto and special lines products. Commercial Lines segment writes auto-related liability and physical damage insurance, business-related general liability and property insurance predominately for small businesses, and workers' compensation insurance primarily for the transportation industry. Property segment writes residential property and renters' insurance in virtually all states, primarily in the independent agency channel and through select agents under its Platinum program. The regulated programs include several mandatory state pools, such as the Michigan Catastrophic Claims Association, Florida Hurricane Catastrophe Fund and others.
Financial Overview
For the fiscal year ended 31 December 2023, Progressive Corp revenues increased 25% to $62.08B. Net income applicable to common stockholders increased from $694.6M to $3.86B. Revenues reflect Personal Lines segment increase of 22% to $46.21B. Net income benefited from Expense Ratio -% - Personal Line decrease of 10% to 16%, Loss Ratio -% - Commercial Auto increase of 10% to 79%, Goodwill impairment decrease from $224.8M (expense) to $0K.
Employees: 61,400 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $131,583M as of Dec 31, 2023
Annual revenue (TTM): $62,082M as of Dec 31, 2023
EBITDA (TTM): $10,137M as of Dec 31, 2023
Net annual income (TTM): $3,865M as of Dec 31, 2023
Free cash flow (TTM): $10,114M as of Dec 31, 2023
Net Debt Last Fiscal Year: $6,804M as of Dec 31, 2023
Shares outstanding: 585,700,000 as of Mar 31, 2024
Index Membership: S&P 500
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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