progressive mreport-03/07

Progressive reported its results for March 2007. Net income decreased 16% to $131.1 million compared to March 2006. The combined ratio increased 4.9 points to 88.2. For the quarter, net income decreased 17% to $363.5 million and the combined ratio increased 4.3 points to 89.5. Progressive saw unfavorable development from prior accident years, primarily related to larger losses emerging from prior years in commercial auto.