Progressive Corp. (PGR) reported that its net income for the month of December was $118.3 million or $0.18 per share, compared to a loss of $123.2 million or $0.18 per share in the same month last year.
Net premiums written for the month was $1.16 billion, up 28% from $905.7 million in the year ago month. Net premiums earned for the month were $1.33 billion, up 27% from $1.05 billion in the year ago month.
Progressive reported that its net income for the fourth-quarter was $305.0 million or $0.46 per share, up from $159.3 million or $0.24 per share in the same quarter of the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.37 per share for the fourth-quarter . Analysts' estimates typically exclude special items.
Net premiums written was $3.40 billion, up 10% from $3.09 billion in the year ago quarter. Net premiums earned were $3.72 billion, up 9% from $3.41 billion last year.
For comments and feedback: editorial@rttnews.com