The Progressive Corporation hosted its 2005 Investor Relations Meeting on May 26th. The meeting included presentations and a question and answer session, lasting approximately three hours. Information from the meeting was made available on the company's website. Progressive also reported its April 2005 results, with net premiums written up 9% and net income down 6% compared to April 2004. The company will continue to offer auto insurance to personal and commercial drivers throughout the US.
The Progressive Corporation held a conference call to discuss its quarterly financial results. For the second quarter of 2005, the Company's net written premiums increased 7% to $3.594 billion and net income increased 2% to $394.3 million compared to the same period in 2004. The combined ratio, a measure of profitability, improved slightly to 86.1% from 85.4% the prior year. The Company also reported that its conference call to discuss third quarter results is scheduled for August 9, 2005.
The Progressive Corporation reported financial results for January 2005. Net premiums written increased 13% to $1.296 billion compared to January 2004. Net income decreased 8% to $149.8 million while earnings per share remained the same at $0.74. The combined ratio increased 2 points to 85.0 due to higher losses and loss adjustment expenses. Policies in force grew 12% for personal lines and 15% for commercial auto business compared to January 2004.
The Progressive Corporation reported its October 2005 results. Net premiums written increased 4% to $1.328 billion compared to October 2004. Net income decreased 46% to $75.4 million compared to the same period last year. The combined ratio was 94.2, a deterioration of 7.2 points from October 2004, due to $84.4 million in losses from Hurricanes Wilma and Katrina. Progressive provides auto insurance to personal and commercial drivers throughout the US.
The Progressive Corporation reported its results for May 2005. Net premiums written increased 2% compared to May 2004. Net income increased 16% to $126.1 million, while earnings per share increased 27% to $0.63. The combined ratio improved 0.8 percentage points to 85.8%. Personal lines policies in force grew 11% year-over-year.
The Progressive Corporation reported its financial results for January 2007. Net premiums written decreased 1% to $1.31 billion compared to January 2006. Net income decreased 11% to $137.7 million compared to the previous year. The combined ratio was 87.8%, an increase of 1.8 percentage points from January 2006. Progressive will hold a conference call on March 2, 2007 to discuss its 2006 annual report and Form 10-K filing with the SEC.
The Progressive Corporation reported financial results for April 2004, with the following key highlights:
- Net premiums written increased 10% to $1.315 billion compared to April 2003.
- Net income increased 49% to $157.1 million compared to April 2003.
- The combined ratio improved 4.2 percentage points to 84.1% from 88.3% in April 2003.
- Personal lines policies in force grew 16% year-over-year and commercial auto policies grew 24%.
The Progressive Corporation reported financial results for August 2005. Net premiums earned increased 6% year-over-year to $1.069 billion. However, net income decreased 43% to $56.8 million due to a 7.1 point increase in the combined ratio to 96.3, driven by $119.5 million in losses from Hurricane Katrina. The company also reported results for the year to date, with net premiums earned up 7% to $9.211 billion and net income down 10% to $1.007 billion. Policies in force grew 10% year-over-year for personal lines and 12% for commercial auto.
The Progressive Corporation reported its November 2005 results. Net premiums written increased 5% to $986.3 million compared to November 2004. Net income decreased 11% to $83.3 million compared to the prior year. The combined ratio was 89.9%, a 0.3 point increase from November 2004. Progressive incurred losses of $4.2 million from Hurricane Wilma and $3 million from Hurricane Katrina in November, bringing its total losses from the storms to $76.6 million and $188.6 million, respectively.
The Progressive Corporation held a conference call to discuss its quarterly financial results. For the second quarter of 2005, the Company's net written premiums increased 7% to $3.594 billion and net income increased 2% to $394.3 million compared to the same period in 2004. The combined ratio, a measure of profitability, improved slightly to 86.1% from 85.4% the prior year. The Company also reported that its conference call to discuss third quarter results is scheduled for August 9, 2005.
The Progressive Corporation reported financial results for January 2005. Net premiums written increased 13% to $1.296 billion compared to January 2004. Net income decreased 8% to $149.8 million while earnings per share remained the same at $0.74. The combined ratio increased 2 points to 85.0 due to higher losses and loss adjustment expenses. Policies in force grew 12% for personal lines and 15% for commercial auto business compared to January 2004.
The Progressive Corporation reported its October 2005 results. Net premiums written increased 4% to $1.328 billion compared to October 2004. Net income decreased 46% to $75.4 million compared to the same period last year. The combined ratio was 94.2, a deterioration of 7.2 points from October 2004, due to $84.4 million in losses from Hurricanes Wilma and Katrina. Progressive provides auto insurance to personal and commercial drivers throughout the US.
The Progressive Corporation reported its results for May 2005. Net premiums written increased 2% compared to May 2004. Net income increased 16% to $126.1 million, while earnings per share increased 27% to $0.63. The combined ratio improved 0.8 percentage points to 85.8%. Personal lines policies in force grew 11% year-over-year.
The Progressive Corporation reported its financial results for January 2007. Net premiums written decreased 1% to $1.31 billion compared to January 2006. Net income decreased 11% to $137.7 million compared to the previous year. The combined ratio was 87.8%, an increase of 1.8 percentage points from January 2006. Progressive will hold a conference call on March 2, 2007 to discuss its 2006 annual report and Form 10-K filing with the SEC.
The Progressive Corporation reported financial results for April 2004, with the following key highlights:
- Net premiums written increased 10% to $1.315 billion compared to April 2003.
- Net income increased 49% to $157.1 million compared to April 2003.
- The combined ratio improved 4.2 percentage points to 84.1% from 88.3% in April 2003.
- Personal lines policies in force grew 16% year-over-year and commercial auto policies grew 24%.
The Progressive Corporation reported financial results for August 2005. Net premiums earned increased 6% year-over-year to $1.069 billion. However, net income decreased 43% to $56.8 million due to a 7.1 point increase in the combined ratio to 96.3, driven by $119.5 million in losses from Hurricane Katrina. The company also reported results for the year to date, with net premiums earned up 7% to $9.211 billion and net income down 10% to $1.007 billion. Policies in force grew 10% year-over-year for personal lines and 12% for commercial auto.
The Progressive Corporation reported its November 2005 results. Net premiums written increased 5% to $986.3 million compared to November 2004. Net income decreased 11% to $83.3 million compared to the prior year. The combined ratio was 89.9%, a 0.3 point increase from November 2004. Progressive incurred losses of $4.2 million from Hurricane Wilma and $3 million from Hurricane Katrina in November, bringing its total losses from the storms to $76.6 million and $188.6 million, respectively.
The Progressive Corporation reported financial results for May 2004, with net premiums written up 16% and net income up 14% compared to May 2003. Key highlights included strong growth across personal and commercial lines of business, a combined ratio of 86.6%, and continued profitability in all but three personal lines markets. Policies in force also grew 15% year-over-year. Progressive continued to experience catastrophe losses which contributed to a higher loss ratio for the month.
The Progressive Corporation held a conference call on November 10, 2005 to discuss its quarterly financial results. For the month of September 2005, Progressive reported a 6% increase in net premiums written and earned. Net income decreased 13% compared to September 2004. The combined ratio was 88.9%, up 0.8 percentage points from the prior year. Hurricane losses contributed to higher losses and loss adjustment expenses for the month.
The Progressive Corporation reported its July 2005 results, including:
- Net premiums written increased 8% to $1.403 billion compared to July 2004.
- Net income decreased 14% to $143.9 million compared to July 2004.
- The combined ratio, a measure of profitability, increased 4.3 percentage points to 86.9% compared to July 2004.
- Total policies in force increased 11% to 9.42 million compared to July 2004, driven by growth in personal and commercial auto insurance policies.
The Progressive Corporation reported financial results for March 2005. Net premiums written increased 5% to $1.127 billion compared to March 2004. Net income decreased 11% to $135.2 million compared to the prior year. Earnings per share fell 3% to $0.67. The combined ratio was 84.8, an increase of 2 percentage points from the prior year. Policies in force grew 12% year-over-year for personal lines and 14% for commercial auto.
- The Progressive Corporation reported its April 2007 results, with net premiums written down 4% from April 2006 to $1.437 billion and net income down 14% to $136.7 million.
- The combined ratio was 88.8%, up 2.9 percentage points from April 2006, driven by an increase in bodily injury severity.
- Total personal auto policies in force grew 1% to over 7 million while total commercial auto policies grew 6% to over 522,000.
The Progressive Corporation reported financial results for February 2005, with net premiums written up 12% and net income down 12% compared to February 2004. Progressive saw growth in both its Personal and Commercial Auto business lines. The combined ratio was 85.2%, an increase of 1.5 percentage points from the prior year. Policies in force increased 12% overall, with growth across all business segments.
Dimitra, a 48-year-old mother of 3, was diagnosed with stage 2 breast cancer and underwent chemotherapy which caused anemia; her oncologist prescribed Aranesp to treat the chemotherapy-induced anemia, which helped Dimitra maintain her energy levels to care for her family and keep up with her daily activities during cancer treatment. The document discusses Amgen's research, development, and delivery of biotechnology medicines to treat serious illnesses like cancer, and highlights one patient's experience using the anemia treatment Aranesp during her breast cancer treatment.
Progressive reported its November 2008 results, including:
- Net income of $137.5 million, up 48% from November 2007.
- Net premiums written increased 2% to $926.9 million.
- Combined ratio improved 0.5 percentage points to 93.8%.
- Total personal auto policies in force grew 1% to over 7.1 million policies.
The Progressive Corporation corrected a footnote in its October 10, 2008 earnings release. The footnote regarding preferred stocks was incorrect, reversing the amounts for redeemable and nonredeemable preferred stock. All other numbers in the earnings release and condensed balance sheet were correct as originally stated. In September, Progressive reported a net loss of $630.8 million compared to net income of $103.8 million in September 2007, largely due to $1.039 billion in write-downs on securities. Total policies in force increased 1% to over 10.5 million compared to September 2007.
bank of new york mellon corp 4q 07 earningsfinance18
The Bank of New York Mellon reported financial results for the fourth quarter of 2007. [1] Revenue increased 12% to $3.8 billion compared to the fourth quarter of 2006, driven by strong growth across business segments. [2] Pre-tax income was $1.3 billion, a 19% increase over the same period last year. [3] Assets under management reached $1.1 trillion, an 11% increase, while assets under custody and administration were $23.1 trillion, up 16% compared to the fourth quarter of 2006.
The Progressive Corporation reported its November 2006 results. Net premiums written decreased 3% to $959.2 million compared to November 2005. Net income increased 58% to $131.9 million compared to November 2005. The combined ratio improved 2.9 percentage points to 87.0 compared to November 2005. Progressive also announced that its Board of Directors confirmed its intention to use a variable dividend formula to determine the annual dividend payout in 2007, replacing quarterly dividends. The variable payout will be based on annual after-tax underwriting income multiplied by a shareholder target factor set by the Board and a gainshare factor between 0-2 depending on growth and profitability.
TRW Automotive Holdings Corp. reported fourth quarter 2004 financial results in line with guidance, with sales of $3.2 billion and a net loss of $62 million. For full-year 2004, sales were $12 billion and net earnings were $29 million. The results included significant expenses from debt refinancing transactions. Excluding these expenses, fourth quarter earnings were $34 million and full-year earnings were $173 million. The company provided an outlook for 2005 of $12.3-12.7 billion in sales and $1.50-1.75 earnings per share.
The Progressive Corporation reported its October 2004 results. Progressive's net written premiums increased 9% to $1,279.8 million compared to October 2003. However, net income decreased 4% to $140.2 million due to a 2.3 point increase in the combined ratio to 87.0%. Catastrophic losses from hurricanes added $19.2 million or 1.5 points to the loss ratio for the month. Progressive also repurchased shares during October through a Dutch auction tender offer.
The document is a letter from Kevin W. Sharer, Chairman and CEO of Amgen, inviting stockholders to Amgen's annual meeting on May 13, 2004. The letter summarizes that stockholders will vote on electing four directors, ratifying the selection of the independent auditors, and two stockholder proposals. It recommends voting for the nominees and ratification and against the proposals. It also provides instructions for stockholders to obtain an admission ticket to attend the meeting.
Progressive reported its November 2007 results. Net premiums written decreased 5% to $912.8 million compared to November 2006. Net income also decreased 29% to $93 million. The combined ratio increased to 94.3% from 87% the prior year. Policies in force grew 2% for personal auto and 8% for special lines compared to November 2006.
The Progressive Corporation reported its April 2008 results. Net premiums written decreased 2% to $1.4 billion. Net income decreased 20% to $108.9 million. The combined ratio increased 2.9 points to 91.7%. Policies in force increased for personal auto and special lines but decreased for commercial auto. Progressive provides auto insurance through independent agencies and direct channels.
TRW Automotive reported fourth quarter and full year 2005 financial results, with sales of $3.1 billion for Q4 2005, a 1.6% decrease from the prior year. Net earnings for Q4 2005 were $59 million compared to a net loss of $62 million in the prior year. For the full year 2005, sales were $12.6 billion, a 5.3% increase from 2004, and net earnings were $204 million compared to $29 million in 2004. TRW provided guidance for 2006 of sales between $12.8-13.2 billion and EPS of $1.05-1.30, excluding a $57 million debt retirement charge.
This document is a quarterly report filed by Health Net, Inc. with the SEC for the quarter ended March 31, 2005. It includes condensed consolidated balance sheets, statements of operations, and statements of cash flows. The balance sheet shows the company had total assets of $3.79 billion as of March 31, 2005, including $766 million in cash. Total liabilities were $2.48 billion. For the quarter, the company reported total revenues of $2.91 billion, including $2.4 billion in health plan services premiums and $497 million from government contracts.
- The document is a letter from Kevin W. Sharer, Chairman and CEO of Amgen, inviting stockholders to attend Amgen's upcoming annual meeting on May 11, 2005.
- At the annual meeting, stockholders will vote on electing three directors, ratifying the selection of Amgen's independent accountants, and three stockholder proposals.
- The board recommends voting for the election of directors and ratification of the accountants, and against the three stockholder proposals. Stockholders are urged to vote by proxy card, internet, or phone prior to the meeting.
The document provides supplementary financial information for Chubb Corporation as of March 31, 2008. Key highlights include:
- Total invested assets were $40.1 billion, with fixed maturities making up the majority.
- Statutory policyholders' surplus for property and casualty insurance was estimated at $13.3 billion, with a ratio of net premiums written to surplus of 0.9 to 1.
- For the three months ended March 31, 2008, worldwide underwriting resulted in a total profit of $138 million for commercial lines and $164 million for personal lines. Loss and expense ratios remained high but stable.
This document provides an overview of Centex Corporation's 2007 Corporate Responsibility Report. It discusses Centex's values of building value, excitement, trust, respect, relationships and excellence. It describes Centex as one of the largest home builders in the US, founded in 1950, with over 500,000 homes built. It also summarizes Centex's business approach, governance, public policy engagement, risk analysis, and efforts to improve sustainability.
The Progressive Corporation reported financial results for May 2004, with net premiums written up 16% and net income up 14% compared to May 2003. Key highlights included strong growth across personal and commercial lines of business, a combined ratio of 86.6%, and continued profitability in all but three personal lines markets. Policies in force also grew 15% year-over-year. Progressive continued to experience catastrophe losses which contributed to a higher loss ratio for the month.
The Progressive Corporation held a conference call on November 10, 2005 to discuss its quarterly financial results. For the month of September 2005, Progressive reported a 6% increase in net premiums written and earned. Net income decreased 13% compared to September 2004. The combined ratio was 88.9%, up 0.8 percentage points from the prior year. Hurricane losses contributed to higher losses and loss adjustment expenses for the month.
The Progressive Corporation reported its July 2005 results, including:
- Net premiums written increased 8% to $1.403 billion compared to July 2004.
- Net income decreased 14% to $143.9 million compared to July 2004.
- The combined ratio, a measure of profitability, increased 4.3 percentage points to 86.9% compared to July 2004.
- Total policies in force increased 11% to 9.42 million compared to July 2004, driven by growth in personal and commercial auto insurance policies.
The Progressive Corporation reported financial results for March 2005. Net premiums written increased 5% to $1.127 billion compared to March 2004. Net income decreased 11% to $135.2 million compared to the prior year. Earnings per share fell 3% to $0.67. The combined ratio was 84.8, an increase of 2 percentage points from the prior year. Policies in force grew 12% year-over-year for personal lines and 14% for commercial auto.
- The Progressive Corporation reported its April 2007 results, with net premiums written down 4% from April 2006 to $1.437 billion and net income down 14% to $136.7 million.
- The combined ratio was 88.8%, up 2.9 percentage points from April 2006, driven by an increase in bodily injury severity.
- Total personal auto policies in force grew 1% to over 7 million while total commercial auto policies grew 6% to over 522,000.
The Progressive Corporation reported financial results for February 2005, with net premiums written up 12% and net income down 12% compared to February 2004. Progressive saw growth in both its Personal and Commercial Auto business lines. The combined ratio was 85.2%, an increase of 1.5 percentage points from the prior year. Policies in force increased 12% overall, with growth across all business segments.
Dimitra, a 48-year-old mother of 3, was diagnosed with stage 2 breast cancer and underwent chemotherapy which caused anemia; her oncologist prescribed Aranesp to treat the chemotherapy-induced anemia, which helped Dimitra maintain her energy levels to care for her family and keep up with her daily activities during cancer treatment. The document discusses Amgen's research, development, and delivery of biotechnology medicines to treat serious illnesses like cancer, and highlights one patient's experience using the anemia treatment Aranesp during her breast cancer treatment.
Progressive reported its November 2008 results, including:
- Net income of $137.5 million, up 48% from November 2007.
- Net premiums written increased 2% to $926.9 million.
- Combined ratio improved 0.5 percentage points to 93.8%.
- Total personal auto policies in force grew 1% to over 7.1 million policies.
The Progressive Corporation corrected a footnote in its October 10, 2008 earnings release. The footnote regarding preferred stocks was incorrect, reversing the amounts for redeemable and nonredeemable preferred stock. All other numbers in the earnings release and condensed balance sheet were correct as originally stated. In September, Progressive reported a net loss of $630.8 million compared to net income of $103.8 million in September 2007, largely due to $1.039 billion in write-downs on securities. Total policies in force increased 1% to over 10.5 million compared to September 2007.
bank of new york mellon corp 4q 07 earningsfinance18
The Bank of New York Mellon reported financial results for the fourth quarter of 2007. [1] Revenue increased 12% to $3.8 billion compared to the fourth quarter of 2006, driven by strong growth across business segments. [2] Pre-tax income was $1.3 billion, a 19% increase over the same period last year. [3] Assets under management reached $1.1 trillion, an 11% increase, while assets under custody and administration were $23.1 trillion, up 16% compared to the fourth quarter of 2006.
The Progressive Corporation reported its November 2006 results. Net premiums written decreased 3% to $959.2 million compared to November 2005. Net income increased 58% to $131.9 million compared to November 2005. The combined ratio improved 2.9 percentage points to 87.0 compared to November 2005. Progressive also announced that its Board of Directors confirmed its intention to use a variable dividend formula to determine the annual dividend payout in 2007, replacing quarterly dividends. The variable payout will be based on annual after-tax underwriting income multiplied by a shareholder target factor set by the Board and a gainshare factor between 0-2 depending on growth and profitability.
TRW Automotive Holdings Corp. reported fourth quarter 2004 financial results in line with guidance, with sales of $3.2 billion and a net loss of $62 million. For full-year 2004, sales were $12 billion and net earnings were $29 million. The results included significant expenses from debt refinancing transactions. Excluding these expenses, fourth quarter earnings were $34 million and full-year earnings were $173 million. The company provided an outlook for 2005 of $12.3-12.7 billion in sales and $1.50-1.75 earnings per share.
The Progressive Corporation reported its October 2004 results. Progressive's net written premiums increased 9% to $1,279.8 million compared to October 2003. However, net income decreased 4% to $140.2 million due to a 2.3 point increase in the combined ratio to 87.0%. Catastrophic losses from hurricanes added $19.2 million or 1.5 points to the loss ratio for the month. Progressive also repurchased shares during October through a Dutch auction tender offer.
The document is a letter from Kevin W. Sharer, Chairman and CEO of Amgen, inviting stockholders to Amgen's annual meeting on May 13, 2004. The letter summarizes that stockholders will vote on electing four directors, ratifying the selection of the independent auditors, and two stockholder proposals. It recommends voting for the nominees and ratification and against the proposals. It also provides instructions for stockholders to obtain an admission ticket to attend the meeting.
Progressive reported its November 2007 results. Net premiums written decreased 5% to $912.8 million compared to November 2006. Net income also decreased 29% to $93 million. The combined ratio increased to 94.3% from 87% the prior year. Policies in force grew 2% for personal auto and 8% for special lines compared to November 2006.
The Progressive Corporation reported its April 2008 results. Net premiums written decreased 2% to $1.4 billion. Net income decreased 20% to $108.9 million. The combined ratio increased 2.9 points to 91.7%. Policies in force increased for personal auto and special lines but decreased for commercial auto. Progressive provides auto insurance through independent agencies and direct channels.
TRW Automotive reported fourth quarter and full year 2005 financial results, with sales of $3.1 billion for Q4 2005, a 1.6% decrease from the prior year. Net earnings for Q4 2005 were $59 million compared to a net loss of $62 million in the prior year. For the full year 2005, sales were $12.6 billion, a 5.3% increase from 2004, and net earnings were $204 million compared to $29 million in 2004. TRW provided guidance for 2006 of sales between $12.8-13.2 billion and EPS of $1.05-1.30, excluding a $57 million debt retirement charge.
This document is a quarterly report filed by Health Net, Inc. with the SEC for the quarter ended March 31, 2005. It includes condensed consolidated balance sheets, statements of operations, and statements of cash flows. The balance sheet shows the company had total assets of $3.79 billion as of March 31, 2005, including $766 million in cash. Total liabilities were $2.48 billion. For the quarter, the company reported total revenues of $2.91 billion, including $2.4 billion in health plan services premiums and $497 million from government contracts.
- The document is a letter from Kevin W. Sharer, Chairman and CEO of Amgen, inviting stockholders to attend Amgen's upcoming annual meeting on May 11, 2005.
- At the annual meeting, stockholders will vote on electing three directors, ratifying the selection of Amgen's independent accountants, and three stockholder proposals.
- The board recommends voting for the election of directors and ratification of the accountants, and against the three stockholder proposals. Stockholders are urged to vote by proxy card, internet, or phone prior to the meeting.
The document provides supplementary financial information for Chubb Corporation as of March 31, 2008. Key highlights include:
- Total invested assets were $40.1 billion, with fixed maturities making up the majority.
- Statutory policyholders' surplus for property and casualty insurance was estimated at $13.3 billion, with a ratio of net premiums written to surplus of 0.9 to 1.
- For the three months ended March 31, 2008, worldwide underwriting resulted in a total profit of $138 million for commercial lines and $164 million for personal lines. Loss and expense ratios remained high but stable.
This document provides an overview of Centex Corporation's 2007 Corporate Responsibility Report. It discusses Centex's values of building value, excitement, trust, respect, relationships and excellence. It describes Centex as one of the largest home builders in the US, founded in 1950, with over 500,000 homes built. It also summarizes Centex's business approach, governance, public policy engagement, risk analysis, and efforts to improve sustainability.
TRW Automotive reported first quarter 2007 financial results with sales of $3.6 billion, up 5% from the previous year. However, the company reported a net loss of $86 million compared to net earnings of $47 million in the prior year. Both periods included charges related to debt retirement. Excluding these charges, net earnings were $61 million in 2007 and $104 million in 2006. The company issued $1.5 billion in senior notes and used the proceeds to retire existing debt, resulting in $147 million in charges. For the full year, the company expects sales between $13.8-14.2 billion and net earnings per share of $0.62-0.92.
The Progressive Corporation held a conference call to discuss its quarterly financial results. For the second quarter of 2005, the Company's net written premiums increased 7% to $3.594 billion and net income increased 2% to $394.3 million compared to the same period in 2004. The combined ratio, a measure of profitability, improved slightly to 86.1% from 85.4% the prior year. The Company also reported that its conference call to discuss third quarter results is scheduled for August 9, 2005.
The Progressive Corporation reported its October 2005 results. Net premiums written increased 4% to $1.328 billion compared to October 2004. Net income decreased 46% to $75.4 million compared to the same period last year. The combined ratio was 94.2, a deterioration of 7.2 points from October 2004, due to $84.4 million in losses from Hurricanes Wilma and Katrina. Progressive also provided supplemental information on premiums written and earned, loss ratios, expense ratios, and policies in force by business segment.
The Progressive Corporation reported financial results for January 2005. Net premiums written increased 13% to $1.296 billion compared to January 2004. Net income decreased 8% to $149.8 million while earnings per share remained the same at $0.74. The combined ratio increased 2 points to 85.0 due to higher losses and loss adjustment expenses. Policies in force grew 12% for personal lines and 15% for commercial auto business compared to January 2004.
The Progressive Corporation reported its August 2005 results. Net premiums earned increased 6% compared to August 2004. However, net income decreased 43% from the previous year to $56.8 million due to higher losses and loss adjustment expenses, which included $119.5 million in costs related to Hurricane Katrina. The combined ratio also increased by 7.1 percentage points to 96.3%. Progressive offers auto insurance to personal and commercial customers throughout the United States.
The Progressive Corporation reported its November 2005 results. Net premiums written increased 5% to $986.3 million compared to November 2004. Net income decreased 11% to $83.3 million compared to the prior year. The combined ratio was 89.9%, a 0.3 point increase from November 2004. Progressive incurred losses of $4.2 million from Hurricane Wilma and $3 million from Hurricane Katrina in November, bringing its total losses from the storms to $76.6 million and $188.6 million, respectively.
The Progressive Corporation reported financial results for March 2005. Net premiums written increased 5% to $1.127 billion compared to March 2004. Net income decreased 11% to $135.2 million compared to the prior year. Earnings per share fell 3% to $0.67. The combined ratio was 84.8, a deterioration of 2 points from the prior year. Policies in force grew 12% year-over-year for personal lines and 14% for commercial auto.
The Progressive Corporation reported financial results for July 2005:
- Net premiums written increased 8% to $1,403.2 million compared to July 2004.
- Net income decreased 14% to $143.9 million compared to July 2004.
- The combined ratio was 86.9%, 4.3 percentage points higher than July 2004.
- Progressive offers auto insurance to personal and commercial drivers throughout the US.
The Progressive Corporation held a conference call on November 10, 2005 to discuss its quarterly financial results. For the month of September 2005, Progressive reported a 6% increase in net premiums written and earned. Net income decreased 13% compared to September 2004. The combined ratio was 88.9%, up 0.8 percentage points from the prior year. Hurricane losses contributed to higher losses and loss adjustment expenses for the month.
The Progressive Corporation reported its results for May 2005. Net premiums written increased 2% compared to May 2004. Net income increased 16% to $126.1 million, while earnings per share increased 27% to $0.63. The combined ratio improved 0.8 percentage points to 85.8%. Personal lines policies in force grew 11% year-over-year.
The Progressive Corporation reported financial results for April 2004, with the following key highlights:
- Net premiums written increased 10% to $1.315 billion compared to April 2003.
- Net income increased 49% to $157.1 million compared to April 2003.
- The combined ratio improved 4.2 percentage points to 84.1% from 88.3% in April 2003, due to favorable reserve development.
- Policies in force grew 16% in personal lines and 24% in commercial auto business compared to April 2003.
The Progressive Corporation held a conference call on August 10, 2004 at 9:00am eastern time to address questions from shareholders regarding its quarterly report and Form 10-Q filing with the SEC. Progressive reported positive financial results for June 2004 and the quarter, with net premiums written up 8% and 11% respectively, and net income up 40% and 35% respectively compared to the same periods in 2003. Progressive also saw a 3.8 and 3.4 point improvement in its combined ratio for the month and quarter.
The Progressive Corporation held a conference call on August 10, 2004 at 9:00am eastern time to address questions from shareholders regarding its quarterly report and Form 10-Q filing with the SEC. Progressive reported positive financial results for June 2004, with an 8% increase in net premiums written, 40% increase in net income, and 3.8 point decrease in combined ratio compared to June 2003. Progressive also saw increases in policies in force and net premiums written of 14% and 12%, respectively, for the first quarter of 2004 compared to the same period in 2003.
The Progressive Corporation reported financial results for May 2004, with net premiums written up 16% and net income up 14% compared to May 2003. Key highlights included strong growth across personal and commercial lines of business, a combined ratio of 86.6%, and policies in force up 15% for personal lines. Progressive continued to experience profitable growth across most markets.
The Progressive Corporation reported its October 2004 results. Net premiums written increased 9% to $1.279.8 million compared to October 2003. Net income decreased 4% to $140.2 million while the combined ratio increased 2.3 percentage points to 87.0%. Progressive continues to respond to claims from hurricanes in August and September, with losses representing 1.5 percentage points of the loss ratio for the month. On October 22, Progressive repurchased 16.9 million shares for $1.5 billion through a Dutch auction tender offer.
The Progressive Corporation reported financial results for March 2006. Net premiums written increased 1% to $1.137 billion compared to March 2005. Net income increased 15% to $156 million compared to the previous year. The combined ratio improved 1.5 percentage points to 83.3%. Policies in force grew 6% overall with increases in both personal and commercial auto insurance lines.
The Progressive Corporation reported financial results for March 2006. Net premiums written increased 1% to $1.137 billion compared to March 2005. Net income increased 15% to $156 million compared to the previous year. The combined ratio improved 1.5 percentage points to 83.3%. Policies in force grew 6% overall with increases in both personal and commercial auto insurance lines.
The Progressive Corporation announced financial results for December 2004 and the fourth quarter of 2004. For December, net premiums written increased 32% to $1.135.5 million and net income increased 59% to $179.5 million. For the quarter, net premiums written rose 15% to $3.352.3 million and net income grew 16% to $413.5 million. The company also announced it would hold a conference call on March 3, 2005 to discuss its annual report.
The Progressive Corporation reported its financial results for January 2007. Net premiums written decreased 1% to $1.314 billion compared to January 2006. Net income decreased 11% to $137.7 million, while earnings per share decreased 5% to $0.18. The combined ratio increased 1.8 percentage points to 87.8%. Progressive will hold a conference call on March 2, 2007 to discuss its 2006 annual report and Form 10-K filing with the SEC.
The Progressive Corporation reported financial results for September 2004 and year-to-date. For September, net income increased 28% to $120.5 million compared to the same period last year. Net premiums earned grew 11% to $1.013 billion. The combined ratio was 88.1. For the year-to-date period, net income increased 38% to $1.235 billion, while net premiums earned grew 16% to $9.605 billion. The company also reported total investment returns and provided additional details on expenses and earnings per share.
The Progressive Corporation reported financial results for September 2004, with the following key highlights:
1) Net premiums written increased 10% to $1.002 billion compared to September 2003, and net income increased 28% to $120.5 million.
2) For the quarter, net premiums earned increased 12% to $3.277 billion and net income increased 22% to $388.9 million.
3) The combined ratio for September was 88.1%, a 0.2 point improvement from September 2003.
This document provides supplementary financial information for The Chubb Corporation for the quarter ending March 31, 2005. It includes:
- Consolidated balance sheet highlights showing total invested assets of $31.9 billion.
- Summaries of invested assets by corporate and property/casualty segments.
- Investment income after taxes for corporate and property/casualty segments.
- Property/casualty insurance group statutory surplus of $8.25 billion.
- Changes in net unpaid losses for various lines of business.
- Worldwide underwriting results by line of business, showing a total statutory underwriting income of $134.4 million.
The document provides supplementary investor information from The Chubb Corporation as of June 30, 2005. It includes:
- Consolidated balance sheet highlights showing total invested assets of $32.9 billion including fixed maturities and equity securities.
- Summaries of invested assets for Chubb's Corporate and Property & Casualty segments totaling over $31 billion.
- Investment income after taxes for the second quarter and first half of 2005, with Property & Casualty investment income of $261 million and $513 million respectively.
- Property & Casualty underwriting results for the second quarter and first half of 2005, including a $4.3 billion statutory policyholders' surplus for the P
Supplementary Investor Information Y13880_Edgar_992_0333_finance18
The document provides supplementary investor information for The Chubb Corporation for the third quarter of 2005, including:
1) Consolidated balance sheet highlights and summaries of invested assets for both corporate and property/casualty segments.
2) Property/casualty underwriting results for the first nine months of 2005, showing a statutory underwriting income of $293.6 million.
3) Details of changes in net unpaid losses and the estimated impact of catastrophes including Hurricane Katrina of $511 million pre-tax cost.
The document provides supplementary investor information for The Chubb Corporation as of December 31, 2005. It includes a consolidated balance sheet, details on share repurchase activity, summaries of invested assets and investment income for both corporate and property & casualty segments. It also provides property & casualty underwriting results for 2005 and 2004, including net premiums written and earned, losses incurred and expenses by line of business.
This document provides supplementary financial information for The Chubb Corporation as of March 31, 2006. It includes consolidated balance sheet highlights, share repurchase activity, summaries of invested assets for corporate and property & casualty segments, investment income after taxes, statutory policyholders' surplus, changes in net unpaid losses, and underwriting results for personal, commercial, and specialty insurance lines of business. Key metrics such as loss ratios, expense ratios, and combined ratios are also presented.
This document provides supplementary investor information from The Chubb Corporation for the period ending June 30, 2006. It includes consolidated balance sheet highlights, share repurchase activity, summaries of invested assets, investment income after taxes, statutory policyholders' surplus, changes in net unpaid losses, and underwriting results by line of business for year-to-date and quarterly periods. Key metrics such as loss ratios, expense ratios, and combined ratios are presented.
The document provides financial information for The Chubb Corporation as of September 30, 2006. It includes highlights of consolidated balance sheet items, share repurchase activity, summaries of invested assets and investment income for both corporate and property/casualty segments. Details are also given on property/casualty underwriting results for various lines of business on a year-to-date and quarterly basis, including ratios and comparisons to prior periods. Key terms are defined at the end.
This document provides supplementary investor information from The Chubb Corporation for the period ending December 31, 2006. It includes highlights of consolidated balance sheet items, summaries of invested assets, investment income after taxes, statutory policyholders' surplus, changes in unpaid losses, and worldwide property and casualty underwriting results for 2006 and 2005. Specifically, total invested assets increased to $37.7 billion in 2006 from $34.6 billion in 2005. Net income after taxes from investments was $1.2 billion for property and casualty in 2006. Statutory policyholders' surplus grew to $11.3 billion in 2006 from $8.9 billion in 2005.
This document provides a summary of financial information for The Chubb Corporation as of March 31, 2007. Some key highlights include:
- Total invested assets were $38.7 billion as of March 31, 2007, with fixed maturities making up the majority.
- Statutory policyholders' surplus for Chubb's property and casualty insurance group was estimated at $11.95 billion as of March 31, 2007, with a ratio of statutory net premiums written to surplus of 1.00 to 1.
- For the three months ended March 31, 2007, Chubb's worldwide property and casualty underwriting results showed a total underwriting income of $202 million for personal insurance and $144 million
This document provides supplementary investor information from The Chubb Corporation for the period ending June 30, 2007. It includes highlights of Chubb's consolidated balance sheet, share repurchase activity, summaries of invested assets for Corporate and Property & Casualty segments, and investment income after taxes. Key metrics provided are total invested assets of $39.5 billion, shareholders' equity of $13.8 billion, and year-to-date Property & Casualty investment income of $360 million.
This document provides supplementary investor information for The Chubb Corporation, including consolidated balance sheet highlights, share repurchase activity, summaries of invested assets, investment income after taxes, statutory policyholders' surplus, changes in net unpaid losses, and underwriting results for both the nine months and quarters ended September 30, 2007 and 2006. Key figures include total invested assets of $40.5 billion, shareholders' equity of $14.2 billion, and worldwide property and casualty underwriting income of $543 million for the nine months ended September 30, 2007.
This document provides supplementary financial information for The Chubb Corporation as of December 31, 2007. It includes highlights of consolidated balance sheets, share repurchase activity, summaries of invested assets, investment income after taxes for corporate and property/casualty divisions, statutory policyholder surplus, changes in unpaid losses, and underwriting results by line of business for 2007 and 2006.
This document provides financial information about Chubb Corporation's property and casualty underwriting results for 2007 and 2006. It summarizes key metrics like net premiums written, losses incurred, expenses incurred, underwriting income, and combined loss/expense ratios for different business lines including personal, commercial, and specialty insurance. It also notes that beginning in 2008, foreign currency fluctuations will be accounted for differently in the reporting of losses paid and outstanding losses. Overall underwriting income increased from $1.886 billion to $2.064 billion from 2006 to 2007.
The document is a report from The Chubb Corporation detailing changes to how losses are presented in their property and casualty underwriting results. Specifically, beginning in Q3 2008, foreign currency fluctuations will impact "net losses paid" and "increase (decrease) in outstanding losses" differently than before. The report provides definitions, ratios, and quarterly underwriting results for Q1 2008 and 2007 to reflect these presentation modifications. Incurred losses remain unchanged.
This document provides supplementary investor information from The Chubb Corporation, including:
- Consolidated balance sheet highlights and share repurchase activity as of June 30, 2008.
- Summaries of invested assets for Corporate and Property & Casualty segments.
- Investment income after taxes for Corporate and Property & Casualty segments for the second quarter and first six months of 2008 versus 2007.
- Property & Casualty statutory policyholders' surplus, change in net unpaid losses, and underwriting results by line of business for the first half of 2008 versus the same period in 2007.
This document from Chubb Corporation reports modifications to the presentation of losses incurred in property and casualty underwriting results for the six months ended June 30, 2008 and 2007. Specifically, it notes that beginning in Q3 2008, foreign currency fluctuations will be reflected differently in "net losses paid" and "increase (decrease) in outstanding losses", though incurred losses remain unchanged. It provides definitions of key terms like underwriting income/loss and combined loss/expense ratio used to evaluate underwriting performance. The document then presents detailed underwriting results by line of business and geographic region.
This document provides supplementary investor information from The Chubb Corporation for the quarter ending September 30, 2008. It includes a consolidated balance sheet, share repurchase activity, summaries of invested assets for corporate and property & casualty divisions, and investment income and underwriting results. Beginning in Q3 2008, foreign currency fluctuations will impact property & casualty loss reporting differently than in the past.
This document provides supplementary financial information for The Chubb Corporation as of December 31, 2008. It includes highlights of the consolidated balance sheet, share repurchase activity, summaries of invested assets for the Corporate and Property and Casualty segments, and investment income. It also contains information on statutory policyholders' surplus, changes in unpaid losses, and underwriting results for year-to-date and quarterly periods for the Property and Casualty Insurance Group. Key terms are defined at the end.
Independent Study - College of Wooster Research (2023-2024) FDI, Culture, Glo...AntoniaOwensDetwiler
"Does Foreign Direct Investment Negatively Affect Preservation of Culture in the Global South? Case Studies in Thailand and Cambodia."
Do elements of globalization, such as Foreign Direct Investment (FDI), negatively affect the ability of countries in the Global South to preserve their culture? This research aims to answer this question by employing a cross-sectional comparative case study analysis utilizing methods of difference. Thailand and Cambodia are compared as they are in the same region and have a similar culture. The metric of difference between Thailand and Cambodia is their ability to preserve their culture. This ability is operationalized by their respective attitudes towards FDI; Thailand imposes stringent regulations and limitations on FDI while Cambodia does not hesitate to accept most FDI and imposes fewer limitations. The evidence from this study suggests that FDI from globally influential countries with high gross domestic products (GDPs) (e.g. China, U.S.) challenges the ability of countries with lower GDPs (e.g. Cambodia) to protect their culture. Furthermore, the ability, or lack thereof, of the receiving countries to protect their culture is amplified by the existence and implementation of restrictive FDI policies imposed by their governments.
My study abroad in Bali, Indonesia, inspired this research topic as I noticed how globalization is changing the culture of its people. I learned their language and way of life which helped me understand the beauty and importance of cultural preservation. I believe we could all benefit from learning new perspectives as they could help us ideate solutions to contemporary issues and empathize with others.
South Dakota State University degree offer diploma Transcriptynfqplhm
办理美国SDSU毕业证书制作南达科他州立大学假文凭定制Q微168899991做SDSU留信网教留服认证海牙认证改SDSU成绩单GPA做SDSU假学位证假文凭高仿毕业证GRE代考如何申请南达科他州立大学South Dakota State University degree offer diploma Transcript
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
办理美国UNCC毕业证书制作北卡大学夏洛特分校假文凭定制Q微168899991做UNCC留信网教留服认证海牙认证改UNCC成绩单GPA做UNCC假学位证假文凭高仿毕业证GRE代考如何申请北卡罗莱纳大学夏洛特分校University of North Carolina at Charlotte degree offer diploma Transcript
Enhancing Asset Quality: Strategies for Financial Institutionsshruti1menon2
Ensuring robust asset quality is not just a mere aspect but a critical cornerstone for the stability and success of financial institutions worldwide. It serves as the bedrock upon which profitability is built and investor confidence is sustained. Therefore, in this presentation, we delve into a comprehensive exploration of strategies that can aid financial institutions in achieving and maintaining superior asset quality.
The Universal Account Number (UAN) by EPFO centralizes multiple PF accounts, simplifying management for Indian employees. It streamlines PF transfers, withdrawals, and KYC updates, providing transparency and reducing employer dependency. Despite challenges like digital literacy and internet access, UAN is vital for financial empowerment and efficient provident fund management in today's digital age.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Bridging the gap: Online job postings, survey data and the assessment of job ...
progressive mreport-04/05
1. NEWS
RELEASE
The Progressive Corporation Company Contact:
6300 Wilson Mills Road Thomas A. King
Mayfield Village, Ohio 44143 (440) 395-2260
http://www.progressive.com
The Company will host a simultaneous webcast of its 2005 Investor Relations Meeting on Thursday, May 26, 2005, beginning at 9:00
a.m. eastern time. The meeting will last approximately three hours and will include a question and answer session following the
presentations. Information that is distributed at the meeting will be made available on the Company's Web site on the morning of the
meeting. To attend the simultaneous webcast, visit the Company’s Web site at http://investors.progressive.com/events.asp
FOR IMMEDIATE RELEASE
MAYFIELD VILLAGE, OHIO -- May 19, 2005 -- The Progressive Corporation today reported the following results for April 2005:
(dollars in millions, except per share amounts) April April
2005 2004 Change
Net premiums written $1,430.4 $1,315.7 9%
Net premiums earned 1,321.7 1,230.4 7%
Net income 147.6 157.1 (6)%
Per share .74 .71 3%
Combined ratio 85.3 84.1 (1.2) pts.
See the “Income Statements” for further month and year-to-date information.
The Company offers insurance to personal and commercial auto drivers throughout the United States. The Company’s Personal
Lines business units write insurance for private passenger automobiles and recreation vehicles. The Company’s Commercial Auto
business unit writes primary liability, physical damage and other auto-related insurance for automobiles and trucks owned by small
businesses. See “Supplemental Information” for month and year-to-date results.
-1-
2. THE PROGRESSIVE CORPORATION AND SUBSIDIARIES
INCOME STATEMENT
April 2005
(millions – except per share amounts)
(unaudited)
Current
Comments on Monthly Results1
Month
Direct premiums written $1,461.7
Net premiums written $1,430.4
Revenues:
Net premiums earned $1,321.7
Investment income 39.8
Net realized gains (losses) on securities (6.3) Includes $7.2 million of write-downs on securities determined to have
had an other-than-temporary decline in market value.
Service revenues 4.0
Total revenues 1,359.2
Expenses:
Losses and loss adjustment expenses 856.2
140.6
Policy acquisition costs
Other underwriting expenses 130.8
Investment expenses 1.1
Service expenses 2.2
Interest expense 6.9
Total expenses 1,137.8
Income before income taxes 221.4
Provision for income taxes 73.8
Net income $147.6
COMPUTATION OF EARNINGS PER SHARE
Basic:
Average shares outstanding 197.9
Per share $.75
Diluted:
Average shares outstanding 197.9
Net effect of dilutive stock-based
compensation 2.8
Total equivalent shares 200.7
Per share $.74
1
See the Monthly Commentary at the end of this release for additional discussion. For a description of the Company’s reporting and
accounting policies, see Note 1 to the Company’s 2004 audited consolidated financial statements included in the Company’s 2004
Annual Report, which can be found at progressive.com/annualreport.
________________________
The following table sets forth the total return on investments for the month:
Fully taxable equivalent total return:
Fixed-income securities 1.1%
Common stocks (1.7)%
Total portfolio .7%
-2-
3. THE PROGRESSIVE CORPORATION AND SUBSIDIARIES
INCOME STATEMENTS
April 2005 Year-to-Date
(millions – except per share amounts)
(unaudited)
Year-to-Date
%
2005 2004 Change
Direct premiums written $5,146.0 $4,708.9 9
Net premiums written $5,035.2 $4,593.0 10
Revenues:
Net premiums earned $4,671.7 $4,323.9 8
Investment income 160.2 154.8 3
Net realized gains (losses) on securities 3.9 64.1 (94)
Service revenues 15.2 17.3 (12)
Total revenues 4,851.0 4,560.1 6
Expenses:
Losses and loss adjustment expenses 3,024.8 2,734.3 11
Policy acquisition costs 496.7 466.6 6
Other underwriting expenses 454.2 405.5 12
Investment expenses 3.9 4.3 (9)
Service expenses 7.6 8.0 (5)
Interest expense 27.7 27.0 3
Total expenses 4,014.9 3,645.7 10
Income before income taxes 836.1 914.4 (9)
Provision for income taxes 275.8 297.3 (7)
Net income $560.3 $617.1 (9)
COMPUTATION OF EARNINGS PER SHARE
Basic:
Average shares outstanding 198.7 216.4 (8)
Per share $2.82 $2.85 (1)
Diluted:
Average shares outstanding 198.7 216.4 (8)
Net effect of dilutive stock-based
compensation 2.9 3.6 (19)
Total equivalent shares 201.6 220.0 (8)
Per share $2.78 $2.81 (1)
The following table sets forth the total return on investments for the year-to-date period:
2005 2004
Fully taxable equivalent total return:
Fixed-income securities .9% .5%
Common stocks (3.3)% .0%
Total portfolio .4% .5%
-3-
4. THE PROGRESSIVE CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
April 2005
($ in millions)
(unaudited)
Current Month
Commercial
Personal Lines Auto Other Companywide
Businesses1
Agency Direct Total Business Total
Net Premiums Written $823.7 $414.8 $1,238.5 $190.3 $1.6 $1,430.4
% Growth in NPW 5% 14% 8% 14% NM 9%
Net Premiums Earned $774.5 $388.9 $1,163.4 $155.6 $2.7 $1,321.7
% Growth in NPE 4% 12% 7% 12% NM 7%
GAAP Ratios
Loss/LAE ratio 64.1 65.5 64.6 67.0 NM 64.8
Expense ratio 20.6 20.3 20.5 20.6 NM 20.5
Combined ratio 84.7 85.8 85.1 87.6 NM 85.3
Actuarial Adjustments2
Reserve Decrease/(Increase)
Prior accident years $7.2
Current accident year 1.7
Calendar year actuarial adjustment $6.5 $5.2 $11.7 $(2.6) $(.2) $8.9
Prior Accident Years Development
Favorable/(Unfavorable)
Actuarial adjustment $7.2
All other development 15.6
Total development $22.8
Calendar year loss/LAE ratio 64.8
Accident year loss/LAE ratio 66.5
Statutory Ratios
Loss/LAE ratio 64.8
Expense ratio 19.6
Combined ratio 84.4
NM = Not Meaningful
1
Amounts primarily include professional liability insurance for community banks and the Company’s run-off businesses. The other
businesses generated an underwriting profit of $1.5 million for the month.
2
Represents adjustments solely based on the Company’s corporate actuarial review.
-4-
5. THE PROGRESSIVE CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
April 2005 Year-to-Date
($ in millions)
(unaudited)
Year-to-Date
Commercial
Personal Lines Auto Other Companywide
Businesses1
Agency Direct Total Business Total
Net Premiums Written $2,905.5 $1,495.8 $4,401.3 $626.6 $7.3 $5,035.2
% Growth in NPW 6% 15% 9% 15% NM 10%
Net Premiums Earned $2,749.9 $1,361.5 $4,111.4 $550.8 $9.5 $4,671.7
% Growth in NPE 5% 12% 7% 13% NM 8%
GAAP Ratios
Loss/LAE ratio 64.7 66.4 65.3 61.1 NM 64.7
Expense ratio 20.8 19.8 20.5 20.1 NM 20.4
Combined ratio 85.5 86.2 85.8 81.2 NM 85.1
Actuarial Adjustments2
Reserve Decrease/(Increase)
Prior accident years $43.6
Current accident year (1.2)
Calendar year actuarial adjustment $25.8 $11.3 $37.1 $3.7 $1.6 $42.4
Prior Accident Years Development
Favorable/(Unfavorable)
Actuarial adjustment $43.6
All other development 94.1
Total development $137.7
Calendar year loss/LAE ratio 64.7
Accident year loss/LAE ratio 67.6
Statutory Ratios
Loss/LAE ratio 64.8
Expense ratio 19.2
Combined ratio 84.0
Statutory surplus $5,160.4
April April
2005 2004 Change
Policies in Force
(in thousands)
Agency – Auto 4,460 4,162 7%
Direct – Auto 2,233 1,969 13%
Other Personal Lines3 2,502 2,132 17%
Total Personal Lines 9,195 8,263 11%
Commercial Auto Business 443 392 13%
NM = Not Meaningful
1
The other businesses generated an underwriting profit of $6.9 million.
2
Represents adjustments solely based on the Company’s corporate actuarial review.
3
Includes insurance for motorcycles, recreation vehicles, mobile homes, watercraft, snowmobiles and similar items.
-5-
6. THE PROGRESSIVE CORPORATION AND SUBSIDIARIES
BALANCE SHEET AND OTHER INFORMATION
(millions– except per share amounts)
(unaudited)
April
2005
CONDENSED GAAP BALANCE SHEET:1
Investments - Available-for-sale, at market:
Fixed maturities (amortized cost: $9,540.1) $9,581.7
Equity securities:
Preferred stocks (cost: $1,031.7) 1,043.4
Common equities (cost: $1,400.0) 1,863.2
Short-term investments (amortized cost: $1,862.4) 1,863.1
Total investments2 14,351.4
Net premiums receivable 2,531.6
Deferred acquisition costs 462.9
Other assets 1,408.7
Total assets $18,754.6
Unearned premiums $4,472.9
Loss and loss adjustment expense reserves 5,400.6
Other liabilities2 2,191.4
Debt 1,284.5
Shareholders’ equity 5,405.2
Total liabilities and shareholders’ equity $18,754.6
Common Shares outstanding 198.8
Shares repurchased – April .9
Average cost per share $90.55
Book value per share $27.19
Return on average shareholders’ equity 28.3%
Net unrealized pre-tax gains on investments $517.2
Debt to total capital ratio 19.2%
Fixed-income portfolio duration 2.9
Weighted average credit quality AA+
1
Pursuant to SFAS 113, “Accounting and Reporting for Reinsurance of Short-Duration and Long-
Duration Contracts,” loss and loss adjustment expense reserves are stated gross of reinsurance
recoverables on unpaid losses of $341.1 million.
2
Amounts include net unsettled security acquisitions, including repurchase commitments, of $932.3
million.
-6-
7. Monthly Commentary
• The pretax recurring book yield of the investment portfolio was 3.7% for the month and 3.8% year-to-date.
• At April month-end, the net unrealized gains in the investment portfolio were $517.2 million, an increase of $54.8
million from March 2005 and a decrease of $152.2 million from year-end 2004.
The Progressive Group of Insurance Companies, in business since 1937, ranks third in the nation for auto insurance based
on premiums written and provides drivers with competitive rates and 24/7, in-person and online service. The companies
that offer insurance directly (by phone at 1-800-PROGRESSIVE and online at progressivedirect.com) market their
products and services under the Progressive DirectSM brand, while the companies that offer insurance through more than
30,000 independent insurance agencies market their products and services under the Drive Insurance from Progressive
brand. The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, are
publicly traded at NYSE:PGR. More information can be found at progressive.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Statements in this release that are not historical
fact are forward-looking statements that are subject to certain risks and uncertainties that could cause actual events and results to
differ materially from those discussed herein. These risks and uncertainties include, without limitation, uncertainties related to
estimates, assumptions and projections generally; inflation and changes in economic conditions (including changes in interest rates
and financial markets); the accuracy and adequacy of the Company’s pricing and loss reserving methodologies; pricing competition
and other initiatives by competitors; the Company’s ability to obtain regulatory approval for requested rate changes and the timing
thereof; the effectiveness of the Company’s advertising campaigns; legislative and regulatory developments; disputes relating to
intellectual property rights; the outcome of litigation pending or that may be filed against the Company; weather conditions
(including the severity and frequency of storms, hurricanes, snowfalls, hail and winter conditions); changes in driving patterns and
loss trends; acts of war and terrorist activities; the Company’s ability to maintain the uninterrupted operation of its facilities, systems
(including information technology systems) and business functions; court decisions and trends in litigation and health care and auto
repair costs; and other matters described from time to time by the Company in releases and publications, and in periodic reports and
other documents filed with the United States Securities and Exchange Commission. In addition, investors should be aware that
generally accepted accounting principles prescribe when a company may reserve for particular risks, including litigation exposures.
Accordingly, results for a given reporting period could be significantly affected if and when a reserve is established for one or more
contingencies. Reported results, therefore, may appear to be volatile in certain accounting periods.
-7-