You guys were extremely helpful. Your service is great.
Freddie M.
St. Louis, MO
The Progressive Corporation
Patrick Brennan, 440-395-2370
Logo: http://www.progressive.com
The Progressive Corporation today reported the following results for July 2008:
See the complete release at http://investors.progressive.com/pdf/ mreport-0708.pdf for further information.
About Progressive
The Progressive Group of Insurance Companies, in business since 1937, is one of the country's largest auto insurance groups, the largest seller of motorcycle and personal watercraft policies and a market leader in commercial auto insurance based on premiums written.
Progressive is committed to becoming consumers' #1 choice for auto insurance by providing competitive rates and innovative products and services that meet drivers' needs throughout their lifetimes, including superior online and in-person customer service, and best-in-class, 24-hour claims service, such as its concierge level of claims service available at service centers located in major metropolitan areas throughout the United States.
Progressive companies offer consumers choices in how to shop for, buy and manage their auto insurance policies. Progressive offers its products, including personal and commercial auto, motorcycle, boat and recreational vehicle insurance, through more than 30,000 independent insurance agencies throughout the U.S. and online and by phone directly from the Company. Private passenger auto products and prices are different when purchased directly from Progressive or through independent agencies. To find an agent or to get a quote, go to www.progressive.com.
The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, are publicly traded at (NYSE:PGR). For more information, including a guide to interpreting the monthly reporting package, visit www.progressive.com.
TABLE
(millions, except per share amounts and ratios)__ July 2008__ July 2007__ Change
Net premiums written__ $1,383.8__ $1,390.2__ 0%
Net premiums earned__ $1,314.2__ $1,337.5__ (2)%
Net income__ $81.8__ $118.5__ (31)%
Per share__ $.12__ $.16__ (26)%
Pretax net realized gains (losses) on securities__ $(16.1)__ $13.2__ NM
Combined ratio__ 92.8__ 91.3__ 1.5 pts.
Average diluted equivalent shares__ 672.9__ 719.4__ (6)%
NM = Not Meaningful
(in thousands)__ July 2008__ July 2007__ Change
Policies in Force:
Total Personal Auto__ 7,136.1__ 7,037.5__ 1%
Total Special Lines__ 3,384.8__ 3,120.2__ 8%
Total Commercial Auto__ 556.5__ 537.2__ 4%
(c) 2008 BUSINESS WIRE. Provided by ProQuest LLC. All rights Reserved.
Car Insurance News: Progressive Reports July Results...Get an auto insurance quote!