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Progressive (NYSE:PGR) Claims Ratio %

: 80.60% (As of Sep. 2022)
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Claims Ratio % is the percentage of claims costs incurred in relation to the premiums earned.

Progressive's Claims Ratio % for the quarter that ended in Sep. 2022 was 80.60% , which is higher than 77.40% for the pervious quarter ended in Jun. 2022.

Progressive's Claims Ratio % for the annual that ended in Dec. 2021 was 75.70% , which is higher than 64.00% for the pervious year ended in Dec. 2020.

The historical rank and industry rank for Progressive's Claims Ratio % or its related term are showing as below:


Progressive Claims Ratio % Historical Data

The historical data trend for Progressive's Claims Ratio % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Progressive Annual Data
Trend Dec17 Dec18 Dec19 Dec20 Dec21
Claims Ratio %
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ProgressiveQuarterly Data
Trend Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22
Claims Ratio %
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Competitive Comparison

For the Insurance - Property & Casualty subindustry, Progressive's Claims Ratio %, along with its competitors' market caps and Claims Ratio % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

   

Progressive  (NYSE:PGR) Claims Ratio % Calculation

Claims Ratio % is calculated as

Claims Ratio %=Total Claims / Total Premiums Earned * 100%

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Progressive  (NYSE:PGR) Claims Ratio % Explanation

Claims Ratio % the percentage of claims costs incurred in relation to the premiums earned during the period. It is the equivalent of gross profit margin for an insurance company.

It's important to note that insurance is the business of managing risks and, to do that well, the insurer needs a thorough understanding of the incurred claims ratio. If the value is higher than expected or above established norms, then further investigation is required to figure out why that is (eg: fraud). If it is lower than expected, it could indicate irrelevant products or difficulties in claiming, possibly affecting customer satisfaction.


Progressive Claims Ratio % Related Terms

Thank you for viewing the detailed overview of Progressive's Claims Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.


Progressive (NYSE:PGR) Business Description

Progressive logo
Address
6300 Wilson Mills Road, Mayfield Village, OH, USA, 44143
Progressive underwrites private and commercial auto insurance and specialty lines; it has over 20 million personal auto policies in force and is the fourth- largest auto insurer in the United States. Progressive markets its policies through independent insurance agencies in the U.S. and Canada and directly via the internet and telephone. Its premiums are split roughly equally between the agent and the direct channel. The company also offers commercial auto policies and entered homeowners insurance through an acquisition in 2015.
Executives
Craig Pamela director C/O ACCENTURE 161 N CLARK STREET CHICAGO IL 60601
Clawson William L. Ii officer: Chief Human Resources Officer C/O THE PROGRESSIVE CORPORATION 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143
Kent Remi officer: Chief Marketing Officer 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143
Bauer Jonathan S. officer: Chief Investment Officer 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143
Marshall Mariann Wojtkun officer: Chief Accounting Officer C/O THE PROGRESSIVE CORPORATION 6300 WILSON MILLS RD. MAYFIELD VILLAGE OH 44143
Tighe Jan E director C/O GOLDMAN SACHS & CO. LLC 200 WEST STREET NEW YORK NY 10282
Snyder Barbara R director 127 PUBLIC SQUARE CLEVELAND OH 44114
Quigg Andrew J officer: Chief Strategy Officer C/O THE PROGRESSIVE CORPORATION 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143
Bleser Philip director 8760 CLAY ROAD SUITE 100 HOUSTON TX 77494
Broz Steven officer: Chief Information Officer C/O THE PROGRESSIVE CORPORATION 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143
Niederst Lori A officer: CRM President C/O THE PROGRESSIVE CORPORATION 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143
Bailo Karen officer: Commercial Lines President 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143
Mascaro Daniel P officer: Vice Pres, Secretary and CLO C/O THE PROGRESSIVE CORPORATION 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143
Murphy John Jo officer: Claims President C/O THE PROGRESSIVE CORPORATION 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143
Callahan Patrick K officer: Personal Lines President C/O THE PROGRESSIVE CORPORATION 6300 WILSON MILLS ROAD MAYFIELD VILLAGE OH 44143

Progressive (NYSE:PGR) Headlines

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