The Auto Channel
The Largest Independent Automotive Research Resource
The Largest Independent Automotive Research Resource
Official Website of the New Car Buyer

Progressive Reports May Results

MAYFIELD VILLAGE, Ohio--The Progressive Corporation today reported the following results for May 2009:

(millions, except per share amounts and ratios)       May

2009

      May

2008

      Change
Net premiums written $1,054.9 $1,049.2 1%
Net premiums earned $1,058.2 $1,050.1 1%
Net income $54.6 $79.3 (31)%
Per share $.08 $.12 (31)%
Pretax net realized gains (losses) on securities $(.4) $(7.9) (95)%
Combined ratio 95.3 92.4 2.9 pts.
Average diluted equivalent shares       674.9       673.6       0%
                         
(in thousands) May

2009

May

2008

Change

Policies in Force:

Agency – Auto 4,343.2 4,424.4 (2)%
Direct – Auto 3,014.0 2,702.8 12%
Total Personal Auto 7,357.2 7,127.2 3%
Total Special Lines 3,441.2 3,266.0 5%
Total Personal Lines 10,798.4 10,393.2 4%
Total Commercial Auto 531.4 555.1 (4)%