The Progressive Corporation announced financial results for December 2005 and the full year 2005. For December, net income was $122.9 million, down 32% from the previous year due to an additional week of results in 2004. For the full year, net income was $1.393.9 billion, down 15% from 2004 which had an extra week. The combined ratio for December was 87.2% and for the full year was 88.1%. Progressive also provided supplemental information on premiums written, earned, loss ratios, and policies in force by business segment.
The Progressive Corporation announced financial results for December 2006 and the full year 2006. For December, net income increased 13% to $138.9 million compared to December 2005. For the full year, net income increased 18% to $1.647 billion compared to 2005. The company also announced it would hold a conference call on March 2, 2007 to discuss annual results and file its annual report with the SEC.
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 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 financial results for February 2004, with net premiums written up 12% and net income up 63% compared to February 2003.
- Net income was $145.1 million or $0.66 per share, with a combined ratio of 83.7%.
- Personal Lines policies in force grew 16% year-over-year while Commercial Auto policies grew 25%. Premium growth rates declined as expected but remained strong.
The Progressive Corporation reported its November 2004 results, including a 7% increase in net premiums written and an 8% increase in net premiums earned compared to November 2003. Net income decreased 6% to $93.8 million while the combined ratio increased 2.9 percentage points to 89.6%. Personal lines policies in force grew 11% year-over-year while commercial auto policies increased 15%. Growth is slowing across most markets and businesses. Investment income was impacted by $3.8 million in special stock dividends while realized losses included $6 million in common stock impairments.
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 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 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 announced financial results for December 2006 and the full year 2006. For December, net income increased 13% to $138.9 million compared to December 2005. For the full year, net income increased 18% to $1.647 billion compared to 2005. The company also announced it would hold a conference call on March 2, 2007 to discuss annual results and file its annual report with the SEC.
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 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 financial results for February 2004, with net premiums written up 12% and net income up 63% compared to February 2003.
- Net income was $145.1 million or $0.66 per share, with a combined ratio of 83.7%.
- Personal Lines policies in force grew 16% year-over-year while Commercial Auto policies grew 25%. Premium growth rates declined as expected but remained strong.
The Progressive Corporation reported its November 2004 results, including a 7% increase in net premiums written and an 8% increase in net premiums earned compared to November 2003. Net income decreased 6% to $93.8 million while the combined ratio increased 2.9 percentage points to 89.6%. Personal lines policies in force grew 11% year-over-year while commercial auto policies increased 15%. Growth is slowing across most markets and businesses. Investment income was impacted by $3.8 million in special stock dividends while realized losses included $6 million in common stock impairments.
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 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 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 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.
Progressive reported its December 2008 results. Net premiums written were $905.7 million, unchanged from the prior year. Net income was a loss of $123.2 million compared to income of $67.6 million in the prior year. The combined ratio was 98.9%, up 3.1 percentage points from the prior year, driven by losses on securities. Policies in force increased 2% for personal auto and 7% for special lines compared to the prior year. Progressive also announced a conference call in February to discuss 2008 results.
1) The Progressive Corporation reported its October 2006 results including net premiums written of $1,315.8 million, down 1% from October 2005, and net income of $130.1 million, up 73% from the previous year.
2) Progressive's combined ratio was 89.1 for October 2006, an improvement of 5.1 percentage points from 94.2 in October 2005.
3) Progressive offers auto insurance to personal and commercial drivers throughout the United States, writing policies for private passenger vehicles, recreational vehicles, and automobiles and trucks owned by small businesses.
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.
- The Progressive Corporation reported financial results for March 2004 including a 14% increase in net premiums written, an 18% increase in net premiums earned, and a 66% increase in net income compared to March 2003.
- Net income was $152.6 million, or earnings of $0.69 per share, compared to $91.8 million, or $0.42 per share in the previous year.
- The combined ratio was 82.8%, a 0.9 point improvement from the prior year.
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.
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 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 February 2005, with net premiums written up 12% and net income down 12% compared to February 2004.
- Personal lines policies in force grew 12% year over year while commercial auto policies in force rose 14%.
- The combined ratio was 85.2% for February 2005, an increase of 1.5 percentage points from February 2004, driven partly by lower favorable reserve development on prior accident years.
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 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 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 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 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 financial results for February 2006 with the following highlights:
- Net premiums written increased 2% to $1.209 billion compared to February 2005.
- Net income decreased slightly to $126.5 million (1%) compared to the previous year.
- Combined ratio increased 1.1 percentage points to 86.3%.
- Personal Lines accounted for the majority of net premiums written at $1.053 billion while Commercial Auto was $154.4 million.
- The Progressive Corporation reported financial results for February 2006, with net premiums written up 2% and net premiums earned up 5% compared to February 2005.
- Net income was $126.5 million, down slightly from $127.7 million in February 2005. Earnings per share was $0.64, up 1% from $0.63 in February 2005.
- The combined ratio was 86.3, 1.1 points higher than February 2005, reflecting a 1% increase in losses and LAE and a 1% increase in expenses.
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 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 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.
1. Progressive Corporation held a conference call on November 3, 2006 to address questions about its quarterly financial results.
2. In September 2006, Progressive reported a 32% increase in net income compared to September 2005. Earned premiums increased 1% and the combined ratio improved by 2 percentage points.
3. For the January-September 2006 period, Progressive reported a 12% increase in net income compared to the same period in 2005. Earned premiums increased 3% and the combined ratio improved by 3.1 percentage points.
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.
Progressive reported its December 2008 results. Net premiums written were $905.7 million, unchanged from the prior year. Net income was a loss of $123.2 million compared to income of $67.6 million in the prior year. The combined ratio was 98.9%, up 3.1 percentage points from the prior year, driven by losses on securities. Policies in force increased 2% for personal auto and 7% for special lines compared to the prior year. Progressive also announced a conference call in February to discuss 2008 results.
1) The Progressive Corporation reported its October 2006 results including net premiums written of $1,315.8 million, down 1% from October 2005, and net income of $130.1 million, up 73% from the previous year.
2) Progressive's combined ratio was 89.1 for October 2006, an improvement of 5.1 percentage points from 94.2 in October 2005.
3) Progressive offers auto insurance to personal and commercial drivers throughout the United States, writing policies for private passenger vehicles, recreational vehicles, and automobiles and trucks owned by small businesses.
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.
- The Progressive Corporation reported financial results for March 2004 including a 14% increase in net premiums written, an 18% increase in net premiums earned, and a 66% increase in net income compared to March 2003.
- Net income was $152.6 million, or earnings of $0.69 per share, compared to $91.8 million, or $0.42 per share in the previous year.
- The combined ratio was 82.8%, a 0.9 point improvement from the prior year.
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.
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 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 February 2005, with net premiums written up 12% and net income down 12% compared to February 2004.
- Personal lines policies in force grew 12% year over year while commercial auto policies in force rose 14%.
- The combined ratio was 85.2% for February 2005, an increase of 1.5 percentage points from February 2004, driven partly by lower favorable reserve development on prior accident years.
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 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 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 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 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 financial results for February 2006 with the following highlights:
- Net premiums written increased 2% to $1.209 billion compared to February 2005.
- Net income decreased slightly to $126.5 million (1%) compared to the previous year.
- Combined ratio increased 1.1 percentage points to 86.3%.
- Personal Lines accounted for the majority of net premiums written at $1.053 billion while Commercial Auto was $154.4 million.
- The Progressive Corporation reported financial results for February 2006, with net premiums written up 2% and net premiums earned up 5% compared to February 2005.
- Net income was $126.5 million, down slightly from $127.7 million in February 2005. Earnings per share was $0.64, up 1% from $0.63 in February 2005.
- The combined ratio was 86.3, 1.1 points higher than February 2005, reflecting a 1% increase in losses and LAE and a 1% increase in expenses.
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 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 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.
1. Progressive Corporation held a conference call on November 3, 2006 to address questions about its quarterly financial results.
2. In September 2006, Progressive reported a 32% increase in net income compared to September 2005. Earned premiums increased 1% and the combined ratio improved by 2 percentage points.
3. For the January-September 2006 period, Progressive reported a 12% increase in net income compared to the same period in 2005. Earned premiums increased 3% and the combined ratio improved by 3.1 percentage points.
1. Progressive Corporation held a conference call on November 3, 2006 to address questions about their quarterly financial results.
2. For September 2006, Progressive reported a 32% increase in net income compared to the same period in 2005. Earnings per share increased 37%.
3. For the quarter ending September 2006, Progressive saw a 34% increase in net income and a 38% increase in earnings per share, compared to the same period in 2005.
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 February 2004, with net premiums written up 12% and net income up 63% compared to February 2003. The combined ratio also improved by 6.1 percentage points.
- Premium growth remained strong, with personal lines policies up 16% and commercial auto policies up 25% year-over-year. Most markets continued experiencing double-digit growth in net written premiums.
- Favorable loss development and ongoing low accident frequency contributed to the improved combined ratio and profitability. Investments continued generating strong returns.
The Progressive Corporation announced financial results for December 2006 and the full year 2006. For December, net income increased 13% year-over-year to $138.9 million. For the full year, net income increased 18% to $1.647.5 billion. Progressive will hold a conference call on March 2, 2007 to discuss full year 2006 results.
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.
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 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.
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.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...mayaclinic18
Whatsapp (+971581248768) Buy Abortion Pills In Dubai/ Qatar/Kuwait/Doha/Abu Dhabi/Alain/RAK City/Satwa/Al Ain/Abortion Pills For Sale In Qatar, Doha. Abu az Zuluf. Abu Thaylah. Ad Dawhah al Jadidah. Al Arish, Al Bida ash Sharqiyah, Al Ghanim, Al Ghuwariyah, Qatari, Abu Dhabi, Dubai.. WHATSAPP +971)581248768 Abortion Pills / Cytotec Tablets Available in Dubai, Sharjah, Abudhabi, Ajman, Alain, Fujeira, Ras Al Khaima, Umm Al Quwain., UAE, buy cytotec in Dubai– Where I can buy abortion pills in Dubai,+971582071918where I can buy abortion pills in Abudhabi +971)581248768 , where I can buy abortion pills in Sharjah,+97158207191 8where I can buy abortion pills in Ajman, +971)581248768 where I can buy abortion pills in Umm al Quwain +971)581248768 , where I can buy abortion pills in Fujairah +971)581248768 , where I can buy abortion pills in Ras al Khaimah +971)581248768 , where I can buy abortion pills in Alain+971)581248768 , where I can buy abortion pills in UAE +971)581248768 we are providing cytotec 200mg abortion pill in dubai, uae.Medication abortion offers an alternative to Surgical Abortion for women in the early weeks of pregnancy. Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman Fujairah Ras Al Khaimah%^^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Dubai Abu Dhabi Sharjah Deira Ajman
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.
[4:55 p.m.] Bryan Oates
OJPs are becoming a critical resource for policy-makers and researchers who study the labour market. LMIC continues to work with Vicinity Jobs’ data on OJPs, which can be explored in our Canadian Job Trends Dashboard. Valuable insights have been gained through our analysis of OJP data, including LMIC research lead
Suzanne Spiteri’s recent report on improving the quality and accessibility of job postings to reduce employment barriers for neurodivergent people.
Decoding job postings: Improving accessibility for neurodivergent job seekers
Improving the quality and accessibility of job postings is one way to reduce employment barriers for neurodivergent people.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
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 is scheduled to hold a one-hour conference call to address questions on Thursday, March 2, 2006, at 9:00 a.m. eastern
time, subsequent to the posting of the Company’s 2005 Annual Report online and the filing of its 2005 Annual Report on Form 10-K with
the SEC. Registration for the teleconference or webcast is scheduled to be available on the Company’s Web site at
http://investors.progressive.com/events.asp on or after February 1, 2006.
FOR IMMEDIATE RELEASE
MAYFIELD VILLAGE, OHIO -- January 18, 2006 -- The Progressive Corporation today reported the following results for December
and fourth quarter 2005. Year-over-year comparisons are affected by an additional week of operating (underwriting and service) results
which were included in December and fourth quarter 2004.
Month Quarter
(millions, except per share amounts and
Change1 Change1
2005 2004 2005 2004
ratios)
Net premiums written $937.4 $1,135.5 (17)% $3,251.8 $3,352.3 (3)%
Net premiums earned 1,068.6 1,270.2 (16)% 3,481.7 3,564.7 (2)%
Net income 122.9 179.5 (32)% 281.6 413.5 (32)%
Per share .62 .89 (30)% 1.42 2.01 (29)%
Pre-tax net realized gains (losses) (4.7) (10.6) (56)% (40.2) (.7) 5643%
on securities
Combined ratio 87.2 80.6 6.6 pts. 90.7 85.5 5.2 pts.
Diluted equivalent shares 198.8 202.3 (2)% 198.7 206.2 (4)%
1
Excluding the additional week of activity in 2004, net premiums written growth would have been approximately 3% for the month and
4% for the quarter, and net premiums earned growth would have been approximately 5% for both periods. See “Monthly Commentary”
at the end of this release for a further discussion.
See the “Income Statements” for further month and year-to-date information and the monthly commentary at the end of this release for
additional discussion.
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
December 2005
(millions – except per share amounts)
(unaudited)
Current
Comments on Monthly Results1
Month
Direct premiums written $955.6
Net premiums written $937.4
Revenues:
Net premiums earned $1,068.6
Investment income 54.9
Net realized gains (losses) on securities (4.7) Includes $2.8 million of write-downs on securities determined to have
had an other-than-temporary decline in market value.
Service revenues 2.9
Total revenues 1,121.7
Expenses:
Losses and loss adjustment expenses 737.1
110.8
Policy acquisition costs
Other underwriting expenses 84.4 The lower expenses primarily reflect the following favorable items:
• adjustments for state tax liabilities ($7.6 million, or .7 combined
ratio points);
• a reduction of the previously estimated bad debt reserves related to
the Company’s collection exposure in several states affected by the
significant hurricanes during 2005 ($5.2 million, or .5 points); and
• a reduction in advertising spend as compared to the prior 11-month
average.
Investment expenses .8
Service expenses 2.1
Interest expense 6.8
Total expenses 942.0
Income before income taxes 179.7
Provision for income taxes 56.8
Net income $122.9
COMPUTATION OF EARNINGS PER SHARE
Basic:
Average shares outstanding 195.9
Per share $.63
Diluted:
Average shares outstanding 195.9
Net effect of dilutive stock-based
compensation 2.9
Total equivalent shares 198.8
Per share $.62
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
Shareholders’ Report, which can be found at www.progressive.com/annualreport.
The following table sets forth the investment results for the month:
Fully taxable equivalent total return:
Fixed-income securities .7%
Common stocks .3%
Total portfolio .6%
Pretax recurring investment book yield 4.8%
-2-
3. THE PROGRESSIVE CORPORATION AND SUBSIDIARIES
INCOME STATEMENTS
Year Ended December 2005
(millions – except per share amounts)
(unaudited)
Year1
%
2005 2004 Change
Direct premiums written $14,293.4 $13,694.1 4
Net premiums written $14,007.6 $13,378.1 5
Revenues:
Net premiums earned $13,764.4 $13,169.9 5
Investment income 536.7 484.4 11
Net realized gains (losses) on securities (37.9) 79.3 NM
Service revenues 40.2 48.5 (17)
Total revenues 14,303.4 13,782.1 4
Expenses:
Losses and loss adjustment expenses 9,364.8 8,555.0 9
Policy acquisition costs 1,448.2 1,418.0 2
Other underwriting expenses 1,312.2 1,238.6 6
Investment expenses 12.1 13.9 (13)
Service expenses 24.6 25.0 (2)
Interest expense 82.6 80.8 2
Total expenses 12,244.5 11,331.3 8
Income before income taxes 2,058.9 2,450.8 (16)
Provision for income taxes 665.0 802.1 (17)
Net income $1,393.9 $1,648.7 (15)
COMPUTATION OF EARNINGS PER SHARE
Basic:
Average shares outstanding 196.9 212.9 (8)
Per share $7.08 $7.74 (9)
Diluted:
Average shares outstanding 196.9 212.9 (8)
Net effect of dilutive stock-based
compensation 2.9 3.3 (12)
Total equivalent shares 199.8 216.2 (8)
Per share $6.98 $7.63 (9)
1
Operating results for 2004 include 53 weeks of activity, as compared to 52 weeks in 2005.
NM = Not Meaningful
The following table sets forth the investment results for the year-to-date period:
2005 2004
Fully taxable equivalent total return:
Fixed-income securities 3.4% 4.2%
Common stocks 7.1% 11.6%
Total portfolio 4.0% 5.2%
Pretax recurring investment book yield 4.1% 3.8%
-3-
4. THE PROGRESSIVE CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
December 2005
($ in millions)
(unaudited)
Current Month
Commercial
Personal Lines Auto Other Companywide
Businesses1
Agency Direct Total Business Total
Net Premiums Written $531.8 $286.2 $818.0 $118.1 $1.3 $937.4
% Growth in NPW2 (20)% (14)% (18)% (13)% NM (17)%
Net Premiums Earned $609.4 $323.4 $932.8 $133.9 $1.9 $1,068.6
% Growth in NPE2 (19)% (11)% (16)% (12)% NM (16)%
GAAP Ratios
Loss/LAE ratio 71.4 71.5 71.4 53.2 NM 69.0
Expense ratio 18.2 17.8 18.1 19.4 NM 18.2
Combined ratio 89.6 89.3 89.5 72.6 NM 87.2
Actuarial Adjustments3
Reserve Decrease/(Increase)
Prior accident years $8.2
Current accident year 13.4
Calendar year actuarial adjustment $13.5 $4.1 $17.6 $4.5 $(.5) $21.6
Prior Accident Years Development
Favorable/(Unfavorable)
Actuarial adjustment $8.2
All other development 19.5
Total development $27.7
Calendar year loss/LAE ratio 69.0
Accident year loss/LAE ratio 71.6
Statutory Ratios
Loss/LAE ratio 69.0
Expense ratio 18.7
Combined ratio 87.7
NM = Not Meaningful
1
Primarily includes professional liability insurance for community banks and the Company’s run-off businesses. The other
businesses generated an underwriting profit of $1.5 million for the month.
2
Excluding the extra week of activity during December 2004, growth would have been approximately:
Commercial
Personal Lines Auto Other Companywide
Agency Direct Total Business Businesses Total
% Growth in NPW --% 8% 3% 9% NM 3%
% Growth in NPE 1% 11% 5% 10% NM 5%
3
Represents adjustments solely based on the Company’s corporate actuarial review.
-4-
5. THE PROGRESSIVE CORPORATION AND SUBSIDIARIES
SUPPLEMENTAL INFORMATION
Year Ended December 2005
($ in millions)
(unaudited)
Year
Commercial
Personal Lines Auto Other Companywide
Businesses1
Agency Direct Total Business Total
Net Premiums Written $8,005.6 $4,177.3 $12,182.9 $1,801.2 $23.5 $14,007.6
% Growth in NPW2 1% 10% 4% 11% NM 5%
Net Premiums Earned $7,993.1 $4,076.2 $12,069.3 $1,667.8 $27.3 $13,764.4
% Growth in NPE2 1% 10% 4% 9% NM 5%
GAAP Ratios
Loss/LAE ratio 69.1 68.4 68.9 62.4 NM 68.0
Expense ratio 20.2 19.9 20.1 19.7 NM 20.1
Combined ratio 89.3 88.3 89.0 82.1 NM 88.1
Actuarial Adjustments3
Reserve Decrease/(Increase)
Prior accident years $127.2
Current accident year 78.4
Calendar year actuarial adjustment $119.2 $51.7 $170.9 $37.2 $(2.5) $205.6
Prior Accident Years Development
Favorable/(Unfavorable)
Actuarial adjustment $127.2
All other development 228.7
Total development $355.9
Calendar year loss/LAE ratio 68.0
Accident year loss/LAE ratio 70.6
Statutory Ratios
Loss/LAE ratio 68.1
Expense ratio 19.3
Combined ratio 87.4
Statutory surplus4 $4,663.3
December December
2005 2004 Change
Policies in Force
(in thousands)
Agency – Auto 4,491 4,245 6%
Direct – Auto 2,328 2,084 12%
Special Lines5 2,675 2,351 14%
Total Personal Lines 9,494 8,680 9%
Commercial Auto Business 468 420 11%
NM = Not Meaningful
1
The other businesses generated an underwriting profit of $7.9 million.
2
Excluding the extra week of activity in 2004, the growth rates would have been approximately 2 percentage points higher.
3
Represents adjustments solely based on the Company’s corporate actuarial review.
4
During December, the parent company received $568.9 million of dividends, net of capital contributions, from the insurance subsidiaries.
5
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)
December
2005
CONDENSED GAAP BALANCE SHEET:1
Investments – Available-for-sale, at market:
Fixed maturities (amortized cost: $10,260.7) $10,221.9
Equity securities:
Preferred stocks (cost: $1,217.0) 1,220.3
Common equities (cost: $1,423.4) 2,058.9
Short-term investments (amortized cost: $773.5) 773.6
Total investments2 14,274.7
Net premiums receivable 2,500.7
Deferred acquisition costs 444.8
Other assets 1,678.4
Total assets $18,898.6
Unearned premiums $4,335.1
Loss and loss adjustment expense reserves 5,660.3
Other liabilities2 1,510.8
Debt 1,284.9
Shareholders’ equity 6,107.5
Total liabilities and shareholders’ equity $18,898.6
Common Shares outstanding 197.3
Shares repurchased – December .1
Average cost per share $118.92
Book value per share $30.96
Trailing 12-month return on average shareholders’ equity 25.0%
Net unrealized pre-tax gains on investments $600.1
Increase (decrease) from November 2005 $28.0
Increase (decrease) from December 2004 $(69.3)
Debt to total capital ratio 17.4%
Fixed-income portfolio duration 3.2 Years
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 $347.2 million.
2
Amounts include net unsettled security acquisitions of $158.5 million.
-6-
7. Monthly Commentary
• Pursuant to the Company’s closing schedule, the Company operates on a 52-week year, consisting of 13-week quarters and a
4-week December. According to this schedule, the Company periodically recognizes an additional week of activity, as was
the case for 2004. Consequently, each of the full year, the fourth quarter and December of 2004 includes an additional week,
which affects comparisons of operating results to the corresponding periods of 2005. As a result, policies in force may better
reflect year-over-year growth.
• During December, the Company incurred additional losses of $6.8 million related to Hurricane Wilma and $2.5 million
related to Hurricane Katrina, bringing the Company’s total exposure for these two storms to $83.4 million and $191.1
million, respectively. Through January 16, 2006, the Company incurred 24,930 Hurricane Katrina claims and 22,800
Hurricane Wilma claims. The Company has settled 99% of all claims for each of these storms.
• The Company’s Special Lines products, which include motorcycles, recreation vehicles and other specialty products,
represent about 8% of total Personal Lines and are sold primarily through independent agencies. Due to the use of these
products, the Company typically experiences lower losses during the colder weather months. For December and fourth
quarter 2005, Special Lines’ results had a favorable effect on the total Personal Lines combined ratios of about 3 points and
1.5 points, respectively, although for the full year 2005, no such effect was seen.
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 products and services of the
Progressive Direct Group of Insurance Companies are marketed directly to consumers by phone at 1-800-PROGRESSIVE and online
at www.progressivedirect.com through the Progressive DirectSM brand. The Drive Group of Progressive Insurance Companies offers
insurance through more than 30,000 independent insurance agencies that market their products and services through the Drive®
Insurance from Progressive brand. For more information about Drive Insurance, go to www.driveinsurance.com. 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 www.progressive.com, including a guide to interpreting the monthly reporting package.
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-