(billions-except per share amounts)
| 2005 | 2004 | 2003 | 2002 | 2001 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
FOR THE YEAR |
||||||||||
| Net premiums written | $ | 14.0 | $ | 13.4 | $ | 11.9 | $ | 9.5 | $ | 7.3 |
| Growth over prior year | 5% | 12% | 26% | 30% | 17% | |||||
| Net premiums earned | $ | 13.8 | $ | 13.2 | $ | 11.3 | $ | 8.9 | $ | 7.2 |
| Growth over prior year | 5% | 16% | 28% | 24% | 13% | |||||
| Total revenues | $ | 14.3 | $ | 13.8 | $ | 11.9 | $ | 9.3 | $ | 7.5 |
| Net income | $ | 1.39 | $ | 1.65 | $ | 1.26 | $ | .67 | $ | .41 |
| Underwriting margin | 11.9% | 14.9% | 12.7% | 7.6% | 4.8% | |||||
| Net income per share1 | $ | 6.98 | $ | 7.63 | $ | 5.69 | $ | 2.99 | $ | 1.83 |
(billions-except shares outstanding and per share amounts) |
||||||||||
| 2005 | 2004 | 2003 | 2002 | 2001 | ||||||
AT YEAR-END |
||||||||||
| Common Shares outstanding (millions) | 197.3 | 200.4 | 216.4 | 218.0 | 220.3 | |||||
| Book value per share | $ | 30.96 | $ | 25.73 | $ | 23.25 | $ | 17.28 | $ | 14.76 |
| Consolidated shareholders’ equity | $ | 6.1 | $ | 5.2 | $ | 5.0 | $ | 3.8 | $ | 3.3 |
| Market capitalization | $ | 23.0 | $ | 17.0 | $ | 18.1 | $ | 10.8 | $ | 11.0 |
| Return on average shareholders’ equity | 25.0% | 30.0% | 29.1% | 19.3% | 13.5% | |||||
| Market Share2 | 7.7% | 7.5% | 7.0% | 6.0% | 5.1% | |||||
| Industry net premiums written3 | $ | 158.9 | $ | 157.3 | $ | 151.0 | $ | 139.6 | $ | 127.9 |
| |
||||||||||
| 1-Year | 3-Year | 5-Year | ||||||||
STOCK PRICE APPRECIATION4 |
||||||||||
| Progressive | 37.9% | 33.2% | 27.8% | |||||||
| S&P 500 | 4.9% | 14.4% | .6% | |||||||
1) Presented on a diluted basis.
2) Represents Progressive’s Personal Lines Businesses as a percent of the U.S. personal auto insurance market; 2005 is estimated.
3) Represents U.S. personal auto insurance market net premiums written as reported by A.M. Best Company Inc.; 2005 is estimated.
4) Represents average annual compounded rate of increase and assumes dividend reinvestment.
All share and per share amounts were adjusted for the April 22, 2002, 3-for-1 stock split.
CONTINUE TO Vision and Values
