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)% |